IBAN

International Bank Account Number (IBAN)

IBAN's were introduced to standardise the identification of bank accounts anywhere in the world and to provide a common standard for cross border payments.

Where do I find my IBAN?

With effect from 1 July 2003, all financial institutions were required to provide their customers with their IBAN. For Ulster Bank customers details of your IBAN are displayed on the front of statements or can be obtained from your Ulster Bank branch.

How will bank account identification change?

An IBAN is NOT a new bank account number. Existing sort codes and account numbers are retained, and additional characters are added to create a standard identifier which is known as an IBAN.

How will an IBAN be identified?

An IBAN is not a single account structure to replace the national numbering systems. It is a way of representing national account numbers in an internationally recognised standard format. An IBAN adds a country code and check digits to the front of the domestic account number format.

BIC (Bank Identifier Code)

To make a cross border payment to an EU Member State, you will need to quote the IBAN of the beneficiary and its associated BIC (Bank Identifier Code). The BIC is an international standard used to uniquely identify a bank. Ulster Bank Ireland Ltd's BIC is ULSBIE2D.

The country code identifies the country in which the IBAN was issued. It also indicates the national account structure to be used when deciphering the account number contained within the IBAN.

The check digits are calculated by the financial institution issuing the IBAN, using a formula applied to the whole IBAN.

Electronic and printed forms of an IBAN

When an IBAN is printed in paper form, for example on an invoice, the IBAN may be split into groups of four characters to make it easier to read. When an IBAN is processed electronically it must not contain blank spaces and must not include the word 'IBAN'.

• Paper form: IBAN: IE29 ULSB 1234 5612 3456 78
• Electronic form: IE29ULSB12345612345678

Examples of other European IBANs

• United Kingdom - GB99RBOS12345612345678
• France - FR1420041010050500013M02606
• Germany - DE89370400440532013000

What should I do if I receive an IBAN on an invoice?

You should quote the IBAN in the account number field on the payment instruction, which you give to your bank. You must also ask your supplier to provide you with their Bank Identifier Code (BIC). This code tells you where to send your money.

Will I need an IBAN?

You will only need an IBAN if you invoice people in other European Countries. In addition, your suppliers within Europe may ask for your IBAN.