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Making international payments smoother with DNBC’s IBAN checker

Business Finance

Making international payments smoother with DNBC’s IBAN checker


Jun 06, 2024

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Businesses often face many challenges in verifying the accuracy and validity of International Bank Account Numbers (IBANs) for their partners during international payments.

According to a Swift survey, 60% of businesses struggle with IBAN verification, and PwC reports that 30% of international payment transactions fail due to IBAN errors.

If you, like many other businesses, are having trouble with IBANs, this article is for you.

What is an IBAN number?

Most European banks require an IBAN for international transactions. The IBAN system enhances security for fund transfers through automatic payment validation, ensuring transactions are both secure and swift.

While many international banks have adopted IBAN, you may still need to provide additional details to send funds to certain countries.

An IBAN is a coding system with up to 34 alphanumeric characters, each playing a role in validating a specific bank account.

Let’s breakdown the IBAN in this example: FR1420041010050500013M02606

FR : This is the country code for France.

14 : This is the check digit, used to validate the IBAN.

20041 : This is the bank code, identifying the specific bank in France.

01005 : This is the branch code, indicating the specific branch of the bank.

0500013M026 : This is the account number.

06 : This is the RIB key, used for domestic transfers within France.

DNBC’s IBAN Checker: your convenience to smooth international transactions

In the fast-paced world of international finance, maintaining accuracy and efficiency is vital. DNBC understands this and offers an excellent solution with its user-friendly online IBAN checker.

This tool simplifies the process of verifying IBANs, ensuring your international payments proceed smoothly.

DNBC’s IBAN checker goes beyond simple number verification. It offers a range of helpful features, including:

Quick verification

Just type in the IBAN, select the country, and the tool will verify its accuracy in seconds, removing any doubts.

Worldwide use

Do you need to send money to Europe or somewhere further away? This tool verifies IBANs from numerous countries, ensuring your money reaches the correct destination.

Trustworthy results

DNBC keeps up with the latest tech and keeps its data up to date, so you can rely on the verification it gives you.

More helpful tools

In addition to verifying IBANs, the platform also provides SWIFT/BIC checks and a currency converter, making it ideal for international transactions.

Safe and secure

DNBC prioritizes your security and privacy, implementing robust safety measures to safeguard your information. Rest assured that your details and transactions are secure when using DNBC’s IBAN checker.

DNBC’s IBAN checker simplifies secure international payments. Its user-friendly interface, robust features, and security focus empower you to handle global transactions confidently.

Check an IBAN

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Note: The content in this article is for general informative purposes only. You should conduct your own research or ask for specialist advice before making any financial decisions. All information in this article is current as of the date of publication, and DNBC Financial Group reserves the right to modify, add, or remove any information. We don’t provide any express or implied representations, warranties, or guarantees regarding the accuracy, completeness, or currency of the content within this publication.