Are you a financial investor, an international business owner or simply someone with international transactions? In banking transactions you often hear the term IBAN number? So What is IBAN?? Find out right away through the following article:

What is an IBAN? What is IBAN Number?

IBAN stands for International Bank Account Number. IBAN is an identifier number issued by ISO (International Organization for Standardization) and European Committee for Banking Standards (European Banking Standards Organization).

what is the IBAN
IBAN number is commonly used in the world

The IBAN number is issued based on the rigorous standard ISO 13616. Since its issuance, the IBAN number has only been used for money transfers within the European region. However, due to the benefits of the IBAN number, up to now, there are 171 countries in the world using this number.

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IBAN Number Structural Conventions

The structure of IBAN includes MN KT BBAN in which:

  • MN is the country code, consisting of 2 letters, the first 2 digits (DE) indicate the country code. For example, DE stands for Germany, FR (France), ES (Spain).
  • KT is a test code, consisting of 2 digits from 00 to 99 (only code for checking).
  • BBAN is the next 8 digits (eg 10000000) which is the bank code in that country.
  • The next 10 digits (1234567890) are individual account numbers in that country. Example: In Germany IBAN maximum 10 digits, France, Italy 27 characters, Belgium 16 characters

IBAN Codes Of Some Major Countries In Europe

The IBAN code is widely used in the European community. Thanks to IBAN, transactions take place quickly and accurately. Here are the IBAN codes of some European countries today:

land IslandsFIFIEUR
The Azores IslandsPTPTEUR
Canary IslandsESESEUR
Republic of CyprusCYCYEUR
Czech RepublicCZCZCZK
Isle of ManIMGBGBP
Saint BarthelemyBLFREUR
Community of Saint-MartinMFFREUR
Saint Pierre and MiquelonPMFREUR

What Is The Meaning Of IBAN Number Code?

The IBAN number is a great initiative for the banking and financial industry around the world. An IBAN series of numbers will provide the following benefits:

  • Helps to limit errors and confusion in the transaction process between domestic and international banks.
  • Ensure consistency in the worldwide banking system.
  • Facilitate transactions to take place quickly and smoothly.

Which Transactions Use IBAN Code?

In Vietnam’s financial market, IBAN numbers are not widely used. Currently, IBAN numbers are only used in money transfer transactions between domestic banks and banks in the European region. When transferring money to European banks, you need to have the following information:

  • Full name of the beneficiary receiving the money.
  • The beneficiary’s IBAN number.
  • Swift Code of the recipient’s bank.

IBAN Number when transferring money from Vietnam to Germany

When you want to transfer money to relatives and friends in Germany or Europe, you need to provide the following information:

  • Name and address of the payee.
  • The recipient’s IBAN number.
  • SWIFT/BIC number.

Note: Swift/BIC numbers are used to double check the information is correct or not? In principle, we only need the IBAN number to know the recipient’s full information.

IBAN Number when transferring money from Germany to Vietnam

In case of money transfer from Germany or Europe to Vietnam, you cannot use IBAN. Because, in Vietnam IBAN Number is not officially used, you need to provide the following information:

  • The recipient’s account number at the bank.
  • Recipient bank SWIFT/BIC number.
  • Name and address of the recipient’s bank.

Note: Money transfer will incur a fee, you should consult and ask specifically for each case.

IBAN Code Information Of Some Big Banks In Vietnam

Currently, all banks are registered and have their own IBAN codes. This is important information to help banks keep pace with the banking system in the world. Here are the IBAN numbers of some major banks in Vietnam:

VietinBank IBAN

VietinBank officially came into operation in 1988. After more than 30 years of establishment and development, VietinBank has continuously expanded its branch system at home and abroad. In Germany, VietinBank has also opened 2 of its branches.

Compare VietinBank's IBAN
VietinBank has successfully registered an IBAN number

Now, residents in Germany can easily use their IBAN numbers for international transactions. In Vietnam, VietinBank’s IBAN number can only be used for German international students. With VietinBank’s IBAN number, German international students can transfer and receive money quickly.

VietcomBank IBAN

Currently, for normal transactions of VietcomBank, you do not need to use an IBAN number. You only need Vietcombank’s BIC number to be able to conduct international transactions. In case the remittance party requires an IBAN number, you cannot use your VietcomBank account but need to switch to UniTeller or MoneyGram services.

IBAN Bank Techcombank, ACB Or BIDV

Similar to VietcomBank, Techcombank, ACB or BIDV bank account users do not need an IBAN number for international transactions. Customers only need to bring their identity card or passport to the counter for instructions.

What Does BIC/SWIFT Bank Code Have To Do With IBAN Code?

To understand the relationship between BIC/SWIFT code and IBAN code you need to understand the related concepts of BIC and SWIFT:

  • BIC is an acronym for Bank Identifier Code which means bank identification code.
  • SWIFT in full is Society for Worldwide Interbank Financial Telecommunication.

Both BIC or SWIFT codes are international codes of banks that inherit money sent from abroad. When receiving money from abroad, you need to provide the following information:

  • SWIFT/BIC code of the beneficiary bank.
  • The recipient’s bank account number.
  • Full name information of the payee.


The IBAN code is relatively new to users in Vietnam. Therefore, there are many questions regarding the IBAN number. Let’s find out the answer with in the next section.

Ask for your IBAN number
Let’s answer frequently asked questions about IBAN number

Why Use IBAN Code?

The IBAN number is a mandatory number for currency transactions in Europe. This is an identification number and is mandatory in the EU banking system. In particular, the IBAN code has significantly contributed to minimizing errors in transactions.

How Do I Know My IBAN Code?

You can check your IBAN number yourself in different ways. Here are some suggestions to help you find out your IBAN number easily:

  • See IBAN number in your statement account. Immediately after registering the IBAN code, the bank will automatically send the statement information with the IBAN number to the account holder.
  • View IBAN number in the Bank’s Banking app
  • Look up the IBAN number at the bank’s transaction offices.

Is BIC/SWIFT Code required in Europe?

In the European area, if you need to transfer and receive money from Vietnam, you only need an IBAN number. You do not need a BIC/SWIFT number to make transactions. However, for other countries in the European region, you need to check with the banks of those countries to see if they need to provide BIC/SWIFT numbers.

Is IBAN Number Retrievable In Case of Card Loss?

When you lose your card, the first thing you need to do is immediately contact the call center or branch to lock your account. This is the necessary security to avoid the fraudsters losing money in the account. When you lose your card, you just need to bring your ID to the counter to get your IBAN number back.

Entering Wrong IBAN Number What To Do?

When you enter the wrong IBAN number, the transactions will not be successful. When transactions are declined, banks will get back to you. You can then provide the correct IBAN number again to complete the transactions.


The IBAN number is an important banking information for the European region. Understand numbers What is IBAN? and the meaning of IBAN will give you more confidence in international transactions. Hope this article has provided you with useful information about IBAN number.

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