IBAN and BIC

Correct use of IBAN and BIC in cross-border payments in the EU

IBAN - International Bank Account Number is an international standardized form of account number designed with assistance of the European committee for banking standards enabling a unique identification of account, country and bank of beneficiary.

IBAN Structure:
IBAN is composed of the capital letters and numerals in the following structure:

• 2 capital letters – country code (e.g. IT – Italy, SK – Slovakia, AT – Austria, etc.)
• 2 digits – check digits enabling program check of account number
• up to 30 digits – bank code, account number – sort code and account number

IBAN can consist of up to 34-digit combination of letters and numerals. IBAN is separated by spaces to a group of 4 digits in a printed form; the spaces between digit groups are omitted in the electronic form.

IBAN of Slovakia always consists of 24 digits.

Example:

Printed form: SK33 0200 0000 0000 0001 2351
Electronic form: SK3302000000000000012351

Calculation of IBAN code - Interactive help for IBAN form of account number calculation

The use of IBAN should increase speed and security of the international payments.

List of the European Union countries and European economic area:

Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Greece, Netherlands, Ireland, Iceland, Liechtenstein, Lithuania, Latvia, Luxemburg, Hungary, Malta, Germany, Norway, Poland, Portugal, Austria, Romania, Slovakia, Slovenia, Spain, Sweden, Italy, Great Britain.

Examples of IBAN structure in the following countries:

BIC - Bank Identifier Code = swift code of bank

BIC structure

• consists of a combination of 8 to 11 digits – capital letters or numerals and no spaces. Swift code of VÚB banka is SUBASKBX.