Hi y'all
i've given my Iban no which is 2 letters followed by 22 numbers to a client, along with my spanish bank address and they have responded saying that the bank said i did not give enough information and they require:
'They need your address, your banks swift address/BIC and your account number.'
i thought an iban was an account number???
can anyone disect an iban and tell me what order each bit is and what a swift is?
HELP - iban confusion
Hi Claire
We have a Spanish and UK bank account and have made many transactions (credit and debit) just using the IBAN account number. With an IBAN account number (International Bank Account Number) it is normally not necessary to provide any other details, so I am suprised that more information was required. The IBAN code consists of the country code (e.g. ES for Spain...GB for UK), identifying Bank code, the sort code and the account number.
We have a Spanish and UK bank account and have made many transactions (credit and debit) just using the IBAN account number. With an IBAN account number (International Bank Account Number) it is normally not necessary to provide any other details, so I am suprised that more information was required. The IBAN code consists of the country code (e.g. ES for Spain...GB for UK), identifying Bank code, the sort code and the account number.
I've had requests for Swift as well as IBAN, address details for me and my bank, and been told several times that there is no such thing as an IBAN or the one I have given cannot fit in the computer. One small US bank had not heard of euros and one major US bank had never made a transfer into a French bank account. It all comes down to individual banks and individual employees. Usually just being more forceful seems to make it work.
Paolo
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Lay My Hat
I have mixed results and supply all details, including physical address of the bank, account number, IBAN,BIC etc. But some banks still manage to ask for details I haven't supplied to the guest! It varies and depends on how much the teller knows I think.
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Paolo said:
I've noticed that our UK banks now show the IBAN account number on all statements.
I was told by our ES bank that using the IBAN code made transactions faster within the EU. So far we have had transfers between Denmark, Holland, Finland and Sweden to our Spanish account using the IBAN code with no problems.
and been told several times that there is no such thing as an IBAN
I've noticed that our UK banks now show the IBAN account number on all statements.
I was told by our ES bank that using the IBAN code made transactions faster within the EU. So far we have had transfers between Denmark, Holland, Finland and Sweden to our Spanish account using the IBAN code with no problems.
BIC's & IBANs
Since January, if you are sending or receiving money internationally, you have to quote the BIC and IBAN - If it is missing the banks will either reject the transfer or charge you (or the customer or both) extra.
Basically the BIC is the Bank ID Code (like a UK sort code) and IBAN is the international account number for your account. Swift is being/has been phased out.
My bank tell me that as long as people do not reveal their PIN or internet banking password or then it is perfectly fine to share these details. It works just the same as it would if you gave people your sort code and account number to make a domestic internet or phone bank transfer. A bit like paying bills online
Basically the BIC is the Bank ID Code (like a UK sort code) and IBAN is the international account number for your account. Swift is being/has been phased out.
My bank tell me that as long as people do not reveal their PIN or internet banking password or then it is perfectly fine to share these details. It works just the same as it would if you gave people your sort code and account number to make a domestic internet or phone bank transfer. A bit like paying bills online
That’s my experience too.Since January, if you are sending or receiving money internationally, you have to quote the BIC and IBAN - If it is missing the banks will either reject the transfer or charge you (or the customer or both) extra.
I can't think of anything witty right now, give me some time, will you!
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www.toprural.com/casadolar
www.ownersdirect.co.uk/spain/S6571.htm
www.espanabreaks.com/villainfo.php/6947.htm
According to my experience IBAN and SWIFT are enough in most countries.
I had banks requiring the bank's address and my personal address from France and Germany, but not all of them.
I am convinced they can do the job with just the IBAN and SWITF. Either they sometimes ask for further info for security reasons or simply being burocratic. Maybe their print form for transfer instructions has these fields and they just replicate it.
I had banks requiring the bank's address and my personal address from France and Germany, but not all of them.
I am convinced they can do the job with just the IBAN and SWITF. Either they sometimes ask for further info for security reasons or simply being burocratic. Maybe their print form for transfer instructions has these fields and they just replicate it.
I'm sure you're right Fil...I've done many international transfers (online) from our Spanish account to other European countries (including the UK) and all that was needed was the name of recipient, receiving Banks IBAN and SWIFT code...normally the funds are in the recipients account within 3 days! Simple, cheap and quick!I am convinced they can do the job with just the IBAN and SWITF
Such a shame we can't do international transfers online from our UK account...we still have to fill in an international transfer form, pay a hefty transfer fee...and the funds takes 7 working days to reach our account in Spain!
Always a lot of fun sending or receiving money into our US account from Europe. Pot luck if it works really and fingers crossed there's a teller who knows what they are doing. The IBAN is only recognised through Europe, not internationally, and has too many characters for the US clearing systems. Since we are always dealing with Europe I have to tell Europeans that their bank will ask for our IBAN number and we do not have one. Our bank does not have an IBAN or Swift Code space in its forms either so when we make transfers out that information goes in the special instructions box. Of course they always try and charge us when the transfer is refused.
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ginelli
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I've just set up an online banking account which means I can do those pesky international transfers from my computer instead of marching down the local bank, waiting for an eternity and getting ripped off at the same time. TIPANET is the cheapest way (8GBP) to do it. It includes several European countries but also the USA. I've pasted more info below:
Q. What is a TIPANET transfer?
A. TIPANET transfers are a cheap and effective method of transferring money into one of the following countries:
BELGIUM / FRANCE / GERMANY / ITALY / SPAIN / USA
TIPANETs are great because they allow us to test the other bank's account numbers are valid before any money leaves your account. To do this we need specific account numbers.
We'll only charge you £8.00 for a TIPANET transfer, no additional agents charges apply. The transfer will normally take 5 working days to reach the other bank.*
TIPANET transfers are always converted and received in Euros, unless to the US where US Dollars will be sent. Rates of exchange will be set at the time the transfer is made. The exchange rates we use may differ from the market rate, taking into account our commission charge for buying and selling the currency.
Please note, our cut off time for receiving TIPANET requests is 10.00am (excluding weekends and bank holidays). If you send requests in after this time the transfer will be processed the next working day.
To request a TIPANET transfer, simply send us a secure message with the information we need and a contact telephone number should we need to contact you. We can't accept faxes.
Please make sure that both the BIC & IBAN are quoted where possible. If they're available for your transfer and aren't quoted then there can be additional charges from the overseas banks.
Q. How much can I send in a TIPANET transfer?
A. The following limits apply to each TIPANET country:
Belgium: €50,000
France: €50,000
Germany: no limit
Italy: €12,499.99
Spain: €50,000
USA: no limit
If you'd like to transfer more than the limit allowed by a particular conutry, you could send money via SWIFT or euro CHAPS.
Q. What do I need for a TIPANET transfer to Belgium?
A. You'll need the following:
bank code (3 digits)
account no. (7 digits)
check no. (2 digits)
beneficiary bank's name and address
beneficiary account holder's name
reference (if you need to send one)
amount
Q. What do I need for a TIPANET transfer to France?
A. You'll need the following:
bank code (5 digits)
branch code (5 digits)
account no. (11 digits)
check no. (2 digits)
beneficiary bank's name and address
beneficiary account holder's name
reference (if you need to send one)
amount
Q. What do I need for a TIPANET transfer to Germany?
A. You'll need the following:
BLZ code (8 digits)
account no. (11 digits max)
beneficiary bank's name and address
beneficiary account holder's name
reference (if you need to send one)
amount
Q. What do I need for a TIPANET transfer to Italy?
A. You'll need the following:
CIN code (1 digit - alphanumeric)
ABI code (5 digits - 1st digit '0')
CAB code (5 digits)
account no. (12 digits max)
beneficiary bank's name and address
beneficiary account holder's name
reference (if you need to send one)
amount
Q. What do I need for a TIPANET transfer to Spain?
A. You'll need the following:
bank code (4 digits)
branch code (4 digits)
key figure (2 digits)
account no. (10 digits)
beneficiary bank's name and address
beneficiary account holder's name
reference (if you need to send one)
amount
Q. What do I need for a TIPANET transfer to USA?
A. You'll need the following:
fedwire/routing/ABA code (9 digits)
account number - (17 digits max)
beneficiary bank's name and address
beneficiary account holder's name
reference (if you need to send one)
amount
Q. What is a TIPANET transfer?
A. TIPANET transfers are a cheap and effective method of transferring money into one of the following countries:
BELGIUM / FRANCE / GERMANY / ITALY / SPAIN / USA
TIPANETs are great because they allow us to test the other bank's account numbers are valid before any money leaves your account. To do this we need specific account numbers.
We'll only charge you £8.00 for a TIPANET transfer, no additional agents charges apply. The transfer will normally take 5 working days to reach the other bank.*
TIPANET transfers are always converted and received in Euros, unless to the US where US Dollars will be sent. Rates of exchange will be set at the time the transfer is made. The exchange rates we use may differ from the market rate, taking into account our commission charge for buying and selling the currency.
Please note, our cut off time for receiving TIPANET requests is 10.00am (excluding weekends and bank holidays). If you send requests in after this time the transfer will be processed the next working day.
To request a TIPANET transfer, simply send us a secure message with the information we need and a contact telephone number should we need to contact you. We can't accept faxes.
Please make sure that both the BIC & IBAN are quoted where possible. If they're available for your transfer and aren't quoted then there can be additional charges from the overseas banks.
Q. How much can I send in a TIPANET transfer?
A. The following limits apply to each TIPANET country:
Belgium: €50,000
France: €50,000
Germany: no limit
Italy: €12,499.99
Spain: €50,000
USA: no limit
If you'd like to transfer more than the limit allowed by a particular conutry, you could send money via SWIFT or euro CHAPS.
Q. What do I need for a TIPANET transfer to Belgium?
A. You'll need the following:
bank code (3 digits)
account no. (7 digits)
check no. (2 digits)
beneficiary bank's name and address
beneficiary account holder's name
reference (if you need to send one)
amount
Q. What do I need for a TIPANET transfer to France?
A. You'll need the following:
bank code (5 digits)
branch code (5 digits)
account no. (11 digits)
check no. (2 digits)
beneficiary bank's name and address
beneficiary account holder's name
reference (if you need to send one)
amount
Q. What do I need for a TIPANET transfer to Germany?
A. You'll need the following:
BLZ code (8 digits)
account no. (11 digits max)
beneficiary bank's name and address
beneficiary account holder's name
reference (if you need to send one)
amount
Q. What do I need for a TIPANET transfer to Italy?
A. You'll need the following:
CIN code (1 digit - alphanumeric)
ABI code (5 digits - 1st digit '0')
CAB code (5 digits)
account no. (12 digits max)
beneficiary bank's name and address
beneficiary account holder's name
reference (if you need to send one)
amount
Q. What do I need for a TIPANET transfer to Spain?
A. You'll need the following:
bank code (4 digits)
branch code (4 digits)
key figure (2 digits)
account no. (10 digits)
beneficiary bank's name and address
beneficiary account holder's name
reference (if you need to send one)
amount
Q. What do I need for a TIPANET transfer to USA?
A. You'll need the following:
fedwire/routing/ABA code (9 digits)
account number - (17 digits max)
beneficiary bank's name and address
beneficiary account holder's name
reference (if you need to send one)
amount
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Hells Bells
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