What are IBAN and BIC numbers?

IBAN and BIC are new payment standards introduced as part of the Single Euro Payments Area (or SEPA) which is an EU initiative that will change the way euro denominated electronic payments are processed across Europe.


What is IBAN?

IBAN stands for International Bank Account Number. This is an internationally agreed standard (SEPA) of account number, which has been designed to assist with cross-border payments made within the EU. Your IBAN consists of your account number and a new code.

Example IBAN: IE85AIBK91234512345678 

What is BIC?

BIC stands for Bank Identifier Code. The BIC code replaces your traditional sort code and when used in conjunction with an IBAN it identifies your specific bank. Example BIC: AIBKIE2DXXX

Where can I find my IBAN and BIC?

Your IBAN and BIC can be found on your bank account or obtained directly from your bank. Also, you can retrieve your IBAN and BIC by using an online IBAN calculator.