IBAN stands for International Bank Account Number and is made up of a code that identifies the country the account belongs to, the account holder's bank and the account number itself.
The IBAN makes it easier and faster to process cross-border payments.
Your IBAN number
If you are invoicing internationally you need to supply your own IBAN number. The bank assigns an IBAN to each of your accounts. You cannot calculate an IBAN yourself automatically, as each bank might have different methods of registering their account numbers in the IBAN. The IBAN appears on your account statements and on your Business eBanking.
Check if an IBAN is valid
You can check whether an IBAN is valid below.
This check will NOT confirm that the bank account exists, simply that the format of the IBAN conforms to the required standard for the bank and country.
The IBAN makes automatic processing of cross-border payments easier and enables the bank to check, immediately upon receipt, whether the account numbers are correct. This avoids fees for manual processing of transfers. Using the IBAN when sending funds aids Straight Through Processing (STP) and avoids any associated charges.
Ask your foreign supplier to notify you of its IBAN so that you can write it on the payment orders that you send through Danske Bank. If your supplier lives in the EU or EEA, the IBAN must appear on its invoices.
The bank assigns an IBAN to each of your accounts. You cannot automatically calculate an IBAN yourself, as each bank might have different methods of registering their account numbers in the IBAN. The IBAN appears on account statements and in the bank's online systems.
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