A virtual IBAN (International Bank Account Number) is a virtual account number issued by a Banking-as-a-Service provider. It lets a business or individual send and receive payments using unique payment information. To unpack that, it’s worth expanding what a regular IBAN is. “IBAN” stands for International Bank Account Number and if youEnter the recipient’s bank details, including the BIC/ SWIFT code and the International Bank Account Number (IBAN) of his or her bank. Choose your payment method and confirm the money transfer. Is IBAN the same as SWIFT? No, IBAN and SWIFT are 2 different codes, but both of these do the same job - sending or receiving money. Banks use SWIFT
Account numbers are unique to a specific bank account and consist of a distinctive string of numbers, 10 to 15 digits long, to identify a particular account. Individuals may hold multiple accounts, each with a different account number. The IBAN aims to facilitate the process of bank transfers without the need for human intervention.
There are two different validations that can be performed to ensure an UK IBAN is correct. First validation is done using the IBAN's Check Digits using the MOD97 algorithm. Second layer of validation can be carried out on the domestic sort code and account number combinationWe will send you the corresponding IBAN for every account you hold with us. You will also see your corresponding ΙΒΑΝ on your bank statement after January 31, 2014. You can also retrieve your IBAN from your Branch or through UBL Contact Center at 021-111-825-888