Multi-Currency IBAN Account

An IBAN (or International Bank Account Number) is an alphanumeric code that can be used by banks in other countries to identify an account when making an overseas payment. Often referred to as an ‘IBAN Number’, an IBAN contains up to 34 numbers and letters, depending on the country and bank the account belongs to. This code typically includes a two letter country code, a two digit check code, a four character bank identifier code and other routing information.

When receiving an international payment or sending money abroad yourself, an IBAN helps to identify the bank account and ensure the payment arrives in the right place at the right time.

While a number of countries process foreign payments using IBAN numbers, they aren’t used across the entire world. Over 70 countries have adopted the IBAN numbering system, however notable exceptions include USA, Australia, and New Zealand. In addition, the regulations in some countries deem the use of IBAN numbering as mandatory, while others simply recommend it.

Most of Europe use IBAN codes, as do some areas of Africa, Central America and the Middle East.

An IBAN can be anywhere between 16 and 34 alphanumeric characters long, with the length depending on which country and which bank the accounts belongs to. In Gibraltar, an IBAN consists of 23 characters, and will always begin with the letters GI followed by the numbers 75.

Finding your IBAN code is a quick and simple process, as long as you know where to look. However, this can also be different depending on the country your bank is located in. You’ll likely be able to find your IBAN and BIC (Swift) Code, as well as your account number, by viewing a bank statement or logging onto your online banking platform.

If your account is with a Gibraltar bank, you will even be able to work out what your IBAN is with a simple formula. This formula is the same for every bank account in Gibraltar and is as follows:

ISO code – Check Code – First 4 digits of BIC (Swift) Code – Account Number

For an example of how your Gibraltar IBAN would look in print format, see below. This example is for a hypothetical customer with the account number: 0123 4567 8901 234

GI75 NWBK 0123 4567 8901 234

If you still can’t find or figure out your IBAN, it is highly recommended to speak to your bank or financial advisor. Knowing your IBAN is very important as it will avoid potentially providing the wrong one to someone wishing to make a payment to you, and adding complications further down the line.