IBAN stands for International Bank Account Number, is an internationally agreed system of identifying Bank accounts across national borders. The IBAN facilitates communication and processing of cross border transactions with a reduced risk of transcription errors.
Your IBAN is NOT a replacement of your account number ─ it’s an additional number with extra information to help overseas Banks identify your account for payments.
The IBAN format is:
| PK | 27 | MPBL | 1181017140122674 |
|---|---|---|---|
| Country Code (2 letters) | Check Digit (2 digits) | Bank Code (4 letters) | Account Number (16 digits) |
| International Envelope | Basic Bank Account Number (BBAN) | ||