IBAN - what is it? What is IBAN bank number?

If you ever had to make money transfers to European countries, then the concept of "IBAN code" is familiar to you. You need to name it for the transfer to the sender. To find out the number of IBAN, it is enough to come to any banking institution and open a current account. Employees of some financial institutions can recommend the code to the sender of SWIFT, with which you can also receive a transfer. Then why is there a need for IBAN? What is it? And why is it not available in all banks?

Basic information

Above, we determined that IBAN is required to perform international transfers of funds. What is it - let's find out. This code is the international number of the current account of an individual customer. It is issued in accordance with international standards for assigning account numbers to EU countries and some other states.

Since 2007, this code has become a unique official identifier of the account of the beneficiary, through which transactions are carried out to transfer funds to customers of the bank located in the territory of the economic zone of the European Union, in any currency. Over time, it began to be used by other countries. Now the number of states using the code has grown to 62. But in Russia such a standard of account does not exist in the banking system, therefore banks refuse to issue it.

For Russian citizens, the IBAN account number may be required when making a money transfer to the European Union with a transfer to the beneficiary's current account . Information about the code is reported by the recipient himself, having previously asked about it from his bank.

Since 2007, banks have the right not to carry out transactions for the transfer of funds, if the account numbers are not specified in the IBAN format. But this rule applies only to cases when the transfer is made in a foreign currency, and only in favor of a person serviced by a bank in the EU and EEC countries. Accordingly, sending money, for example, to France without specifying an IBAN code, the sender will receive them back because of a refusal by the bank. Money will not return in full, as the bank will withhold an amount equal to the commission of return.

Code structure

A certain semantic purpose is borne by each letter and figure in the IBAN. What this means, we will consider in more detail:

• The first two letters carry information about the country in which the beneficiary's bank is located;
• The next two digits indicate the information about the unique IBAN number, which is calculated by calculation;
• The following two figures carry information about the BIC-code of the banking institution;
• The remaining figures are the customer account number inside the bank.

When do I need an IBAN code?

Its presence is mandatory for payments and transfers in favor of persons residing in the EU and EEC countries, as well as some other states that already apply such a standard of accounts. And for money transfers to Russia, there is still no need for it.

How to apply the code when making international transactions?

Consider the case when a foreign partner sends an account to your address, which has both a traditional account number and IBAN. When making an international payment, it is better to indicate the IBAN in the field designated for the beneficiary account number in the instruction. Then the payment will be faster, since it takes less time to process the documents. It is worth noting that if the payment order is filled electronically, it is recommended to enter the IBAN without spaces and unnecessary signs.

Use of IBAN number by Russian banking institutions

Transfers in favor of a citizen of the Russian Federation are made without an indication of IBAN. To do this, it is sufficient to specify the SWIFT code.

The IBAN account must be indicated only with external transfers from a current account opened with a bank of the Russian Federation. And he only needs it if the payment goes to a bank located on the territory of the EU and the EEA or in other countries that have also begun to apply this standard of accounts.

Which identifier is used for transfers from EU countries to the accounts of Russian banks

Above we wrote that if money is transferred from EU and EEA countries to Russian accounts, IBAN is not indicated in the payment order. What does it mean? This means that the sender simply needs to indicate in the document that the transfer is not carried out in the territory of the EU, but outside it.

When sending money from Europe to the accounts of Russian banks, it is required to issue a payment order for external banking operations. In this case, the following information should be present:

• SWIFT code belonging to the receiving bank;
• The settlement account of the customer of the receiving bank.

How can I find out the details for international transactions with funds?

1. Information about the necessary details, which are indicated in the payment documents for international transfers, are on official websites of banking institutions.
2. If you have an account opened in a banking institution of another state that has the right to establish an IBAN, for example in Privatbank, then information about the code can be found in one of the following ways: by contacting the bank branch through the Internet banking system, or by calling the "hotline" .
3. In the banking system there is such a thing as an intermediary bank. Its services can be used by banking institutions that are not able to directly conduct international banking operations. For example, Alfa-Bank signed an agreement with three German financial institutions so that its clients could transfer money to that state. How to make an international transfer, you will prompt the staff of the bank.

International payments with Sberbank

To make international payments from any of the countries (including EU and EEA countries) through Sberbank, the following information should be present in the payment order:

• Name of the receiving bank;
• The location of the branch that serves the account;
• Full name of account holder;
• Its passport data, TIN and CAT numbers;
• BIC, correspondent account and settlement account of the receiving bank.

Perhaps, additional details will be required, they can be found on the official website of the bank. IBAN Sberbank is not listed there, but only because it does not exist in nature yet. For international transfers, Sberbank uses only SWIFT code, and it needs to be called the sender of funds. For units that are located in different regions, the SWIFT code is also different. Information that is suitable for you, can be found on the bank's website.

Conclusion

Having studied all the information, it became clear what is the IBAN of the bank, and its function in the banking system. Such a single account standard can make the processing of payments carried out by EU and EEA banks and reduce the number of errors when specifying the details, since the sending bank of money can check the correctness of the specified account number before making the payment.