IBAN is an abbreviation for International Bank Account Number and was created to ensure that bank account details can be correctly identified. Since January 1, 2007, it is compulsory to indicate the IBAN number for all cross-border payments in euro between the 27 countries in the European Union, Norway, Iceland, Liechtenstein and Switzerland. However, for domestic transaction you don’t use IBAN.
Find out your IBAN number/controll other’s IBAN number
Thanks to how the IBAN number is constructed, it is possible to mathematically verify the account that money will be sent to and find out your own IBAN. If you are going to receive a payment from abroad you may be able to calculate your IBAN using a calculator on your bank’s website (search for “iban” at your banks homepage). Otherwise, you should be able to find it when you log on. Your bank will help you to find it because they are obliged to have an IBAN number for you. Many bank websites also provide calculators to verify other’s IBAN numbers.
This post is also available in: Swedish
