International Bank Account Number (IBAN) is a standard account number used to facilitate automatic processing of money transfers. You will need to use an IBAN for the completion of domestic and international transfers to and from your account. It's a standardized way of identifying a bank account, which reduces errors and delays in sending international payments.

IBAN is combination of 29 numbers and letters unique for each account and country. Therefore, every account has an IBAN and every IBAN designates one account.

The first four digits of IBAN includes two digits for the country code and two check digits to verify the validation of the IBAN. The remaining part of the IBAN includes the national account number named as Basic Bank Account Number (BBAN).

• Facilitates money transfer
• Internationally accepted
• Reliable, more secure, accurate, unique and comprehensive
• Minimizes delays, reduces errors, and minimizes cost

As declared by the Central Bank of Egypt, IBAN will be implemented on the 30th of June 2020 across Egypt.

No, it does not replace the account number. It is simply an additional standardized international identifier for your account.

International Bank Account Number (IBAN) is a standard account number used to facilitate automatic processing of money transfers. You will need to use an IBAN for the completion of domestic and international transfers to and from your account. It's a standardized way of identifying a bank account, which reduces errors and delays in sending international payments.

IBAN is combination of 29 numbers and letters unique for each account and country. Therefore, every account has an IBAN and every IBAN designates one account.

The first four digits of IBAN includes two digits for the country code and two check digits to verify the validation of the IBAN. The remaining part of the IBAN includes the national account number named as Basic Bank Account Number (BBAN).

• Facilitates money transfer
• Internationally accepted
• Reliable, more secure, accurate, unique and comprehensive
• Minimizes delays, reduces errors, and minimizes cost

As declared by the Central Bank of Egypt, IBAN will be implemented on the 30th of June 2020 across Egypt.

No, it does not replace the account number. It is simply an additional standardized international identifier for your account.

• Transfers between your account and beneficiary accounts in other banks in Egypt
• Transfers between your account and beneficiary accounts when sending to banks operating in other countries that have implemented IBAN
• All your inward and outward remittances should have IBAN

Yes you will need both, except for beneficiaries in non-IBAN countries.

Your remitter must provide YOUR IBAN to the remitting bank. To enable this, kindly ensure your IBAN is known to your remitter.

If you have standing instructions for effecting payments from your account to beneficiary accounts held in banks within Egypt, then you will need to make amendments, by providing the IBAN correspondent to the beneficiary account. If you are receiving funds through standing instructions from any of the banks in Egypt, please advise your IBAN to the remitter.

No, IBAN is not required for credit card payments.

Yes, IBAN is required for Salary Pre-paid cards.

In case the IBAN is not used, the processing of both Inward and Outward payments in your account may be delayed.

Yes, but for a temporary period. Employees must update their employers with their IBAN numbers in order to update salary records.

No, IBAN is not required for over-the-counter transactions.

Without IBAN, no inward remittance will be allowed going forward since all financial institutions in Egypt will implement IBAN. However, for outward remittance, whichever country that has implemented IBAN for remittance will require an IBAN mandatorily.