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- What is IBAN?
What is IBAN?
IBAN (International Bank Account Number) is the required international number format for a bank account which banks use to credit funds to the remittee’s account. It is used across the European Union for international and local money transfers.
Money is credited to the remittee’s account only if the remitter specifies the remittee’s account number in the international IBAN format. You must specify this account number to the remitter if you are expecting a money transfer from abroad.
If, when you transfer money, you don't specify the remittee’s account number in the international IBAN format in the payment order (the remittee’s account field), you may be charged more for the transfer, it may take longer or the money might not reach the remittee.
Please note that the bank credits the funds only according to the account number, therefore when a wrong account number is specified in the payment order, funds may be credited to another person’s account regardless of the provided surname or corporate name of the remittee. The bank does not check whether or not the specified account belongs to the specified remittee, so please double-check the remittee’s account number to ensure the transferred funds reach the account of the right remittee.
Bank account numbers in different countries
| Bank account numbers in IBAN format are comprised of up to 34 symbols in different countries: | |
|---|---|
| literal country code | LV, IT, SK, etc. |
| 2 control digits | XX |
| bank code | different everywhere |
| account number | different everywhere |
Examples of account numbers in different counties
| Bank account numbers in Lithuania are comprised of 20 symbols: | |
|---|---|
| literal country code | LT |
| 2 control digits (automatically assigned by the bank) | XX |
| 5-digit bank code | XXXXX |
| 11- digit old account number | XXXXXXXXXXX |
How to write your account number in IBAN format?
On printed payment documents write the account number in groups of 4 digits. For instance:
LT01 2345 6789 0123 4567
In electronic documents write the number:
- In a line of 20 symbols
- In capitals only
- Without spaces, dots, comas or dashes between the symbols
For instance:
LT012345678901234567
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