IBAN
IBAN is a standardised international bank account number used to identify a bank account clearly for domestic and cross-border payments. It consists of a country code, check digits and a national account identifier, making it easier to validate and process bank transfers and direct debits automatically. It is often used together with the BIC to identify both the bank and the account unambiguously. In business applications, the IBAN is stored in house bank accounts and business partner data and can be used in bank statement processing to assign incoming and outgoing transactions correctly.
