International bank account number

摘要

The use of electronic communication media and services internationally for the cross-border transmission of information and payment and payment-related transactions between financial institutions, as well as between financial institutions and their customers, continues to increase dramatically. In order to facilitate automated processes in this environment, ISO/FDIS (Final Draft International Standard) 13616, Banking and related financial services-International bank account number (IBAN), has been developed as a means by which financial institutions and their customers can exchange, through inter-industry electronic data interchange (EDI), customer account identification details in a machine-readable form. It also makes provision for validation of the information provided.