- An IBAN is not a new account number.
- Your listed account numbers will not change.
- An IBAN includes additional letters and numbers next to your account number to make it unique on an international level.
In the case of receiving transfers to your account, whether from within the Kingdom or not, you must always provide your private IBAN to the remitter.
- To send transfers from your account, you must request that the beneficiary provide you with his/her private IBAN, if available.
- If you use any electronic payment channel, it is recommended that you use the IBAN Checker to confirm the accuracy of the beneficiary’s IBAN when issuing a money transfer.
It is preferable to use money transfer rather than cheques for the following reasons:
- Protection against forgery