International Bank Account Number (IBAN) is the international bank account number used instead of existing customer account numbers of banks and created by a certain standard to ensure fast, error-free and low-cost fund transfers.
Today IBAN is used in many countries, including the European Union countries.
The Turkish Central Bank Communiqué governing IBAN has been published in the Official Gazette no. 27020 dated 10.10.2008.
Advantages of IBAN for Account Holders
- Ensures safe, automatic and fast completion of fund transfers.
- The codes and cheques contained in the IBAN will allow sanity check, preventing transaction errors.
- Eliminates loss of time and cost caused by transaction errors.
- Speed up delivery of the transferred money to the branch and receipt thereof by the account.
How to Use IBAN?
- IBAN is a series of figures and characters referring only to one account from among all the accounts in the world.
- In countries adopting the IBAN system, account holders receive an IBAN for each bank account number.
- Each IBAN contains a two-digit “check figure” generated by a special encryption algorithm.
- The customer wishing to transfer funds to another country or bank will notify the receiving IBAN to the sender bank. The sender bank will check the account before transmitting it to the receiver bank. If IBAN is incorrect, the fund is not transferred to the receiver bank and transaction error is prevented.
- Notify your IBAN to sender to benefit from IBAN advantages.
- Ask IBAN of the people for whom you will perform international or domestic fund transfer.
IBAN Standard in Turkey
- For each county, IBAN is applied in a certain format and standard.
- An IBAN can be comprised of maximum 34 digits.
- Of the first four digits of IBAN, the first two are the country code and the second two are check figures. The remaining part is the national bank account number.
- Turkey’s IBAN length has been determined to be 26 digits.
- The Turkish IBAN format is as follows:
How to Learn Your IBAN?
- Türkiye Finans Branches
- Türkiye Finans Internet Branch
- Türkiye Finans Mobile Branch
- Customer Contact Center 0850 222 22 44
Click to learn your IBAN now.
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