What is an IBAN?

The IBAN (International Bank Account Number) is a standardised code that uniquely identifies a bank account in an international context. It is designed to make transfers and transactions between countries easier, avoiding errors and making payments secure and swift. 

This code includes key information such as the country of the account, the bank it belongs to and the account number. In Spain, the IBAN has 24 characters, broken down in the following order: 

• Two initial letters identifying the country (for Spain, ES). 
• Two control numbers, whose function is to ensure that the IBAN is valid. 
• Four digits referring to the bank code. 
• Four numbers referring to the branch. 
• Two further check digits. 
• The account number of the account holder. 

When can you be asked for your IBAN?

The IBAN is essential for many financial transactions, especially when making payments or transfers. Here are some common cases where you will need it: 

• Receiving a bank transfer: If someone needs to send you money using this payment method, they will ask you for your IBAN. 
• Making international payments: When you send money to an account outside Spain you must also provide the beneficiary’s IBAN. 
• Direct debits: To set up a direct debit for a utility bill, such as electricity or water, you will usually be asked for this information. 
• Transactions with companies: If you are self-employed or run a business, many companies will use it to make payments. 

The importance of the IBAN in the financial world

Thanks to IBAN, international transfers have been greatly simplified. Prior to its introduction in the 1990s, it was much easier to make errors in payments, which could lead to delays and additional costs. In Spain, it permanently replaced the CCC (Customer Account Code) at the beginning of 2014. 

Today, the IBAN is used in all SEPA (Single Euro Payments Area) countries, as well as in some other countries around the globe, such as Jordan and Guatemala, and has become a standard to ensure the accuracy and speed of banking transactions. 

Does the IBAN vary between countries or banks?

The IBAN can be between 15 and 34 characters long, depending on local regulations. It is therefore important to always check that you are using the correct number to avoid mistakes in operations. Here are some examples: 

• Germany: It includes the bank code and account number, but does not integrate branch codes like in Spain. 
  • Number of characters: 22.
  • Example: DE89 3704 0044 0532 0130 00. 
• France: An extra control number is added, and the bank code is more detailed—it also specifies the branch. 
  • Number of characters: 27.
  • Example: FR76 3000 6000 0112 3456 7890 189. 
• Italy: It includes an initial letter indicating the type of account, as well as the bank and branch code. 
  • Number of characters: 27.
  • Example: IT60 X054 2811 1010 0000 0123 456.
• The Netherlands: This is one of the shortest IBANs, as it only contains the bank code and account number, without specifying branches. 
  • Number of characters: 18.
  • Example: NL91 ABNA 0417 1643 00.
• Switzerland: Switzerland does not belong to the eurozone, but follows the IBAN standard for international transfers. 
  • Number of characters: 21.
  • Example: CH93 0076 2011 6238 5295 7.

Recommendations for using your IBAN safely

Although the IBAN is necessary for many transactions, you should protect it like any other bank details. Here are some tips: 

1. Don’t share it unnecessarily: Provide it only to companies or persons you trust. 
2. Avoid sending it through unsecured channels: If you must share it, use secure methods such as encrypted platforms or banking applications. 
3. Check before you send money: Make sure that the recipient’s IBAN is correct. One mistake can lead to money ending up in the wrong account. 
4. Pay special attention when making international transfers: it is advisable to check that you have entered the number correctly, given the wide variety of IBAN formats. 
5. Beware of phishing: Be wary of emails or messages urgently asking for your IBAN or asking for it for no clear reason.