The International Bank Account Number (IBAN) is a series of letters and numbers that uniquely identifies an account held at an overseas bank.
An IBAN is not a new bank account number but a way of representing account numbers in an internationally recognised standard format. If you have been provided an IBAN for the intended payment recipient always enter it in the recipient account number field.
An IBAN is a mandatory requirement when sending payments to certain European and United Kingdom countries. All IBANs start with a two (letter) country code and contain between sixteen (16) and thirty-four (34) letters and numbers. The length of an IBAN will differ depending on the country, but its length must be fixed for any given country. The Global Payments system will remind you to enter an IBAN if you are sending funds to a recipient that requires one.