Nowadays, it is increasingly necessary to know how to handle banking and financial language. This is due to the increase in banking operations carried out through the Internet and mobile phones.
Words like IBAN, Swift or BIC are no longer foreign, and understanding their meaning is crucial to navigate the current financial landscape.
In a context where online operations are the norm, knowing and understanding terms like IBAN has become basic knowledge. However, there are those who are still not clear about some concepts.
IBAN: More than a set of numbers and letters
Before we delve into how to know bank by IBAN, it is essential to understand what exactly this term is. Well, it means International Bank Account Numberis a unique code that internationally identifies a bank account.
It should be noted that it is not simply a combination of letters and numbers; It is the key that opens the doors to cross-border banking operations and simplifies fund transfers.
He IBAN is made up of four blocks of characters:
- The first two characters are letters that indicate the country. In the case of Spain, the letters are IS.
- followed by two check digits to avoid errors in transfers.
- Then, four numbers that indicate the banking entity.
- Another four digits for the branch.
- Two additional digits of control.
- The last ten that constitute the account number.
Steps to know the bank by IBAN code
Now, let’s focus on the nitty-gritty. Do you know how to determine which bank an IBAN or bank account number belongs to? It is easier than it seems to be.
To do this, you will have to rely on an online tool, exactly one bank finder. There are several websites on the Internet that offer this service for free.
First, identify the four numbers that indicate the banking entity within the IBAN. Then, access an entity finder, such as iba.esand write the four digits.
Remember that You find this information just after the first four codes. That is, if the IBAN is ES91 2080 5731 9123 4567 8901the four bank characters are 2080.
Now, these numbers are what you are going to enter on the aforementioned web page and then click on Search. The tool will show that the number belongs to the bank Abanca.
In addition, it provides more information about the bank’s address, population, postal code, autonomous community and you can even know the telephone number, in short, the contact details.
Know which bank it is by the IBAN or bank account number It is useful information that may be necessary on some occasions.
For example, if you have to make a bank transfer to someone and you don’t know which bank their account belongs to, this would be ideal.
Knowing this information is also important for carrying out international banking operations, since it is essential for the transaction to be carried out correctly.
