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IBAN

Banking without Borders!

IBAN: Banking Without Borders!

Representing our commitment to providing seamless, efficient, and globally-connected financial solutions for our customers at ahlibank, we are pleased to offer IBAN service.

 

What is IBAN?

 

IBAN stands for International Bank Account Number. It’s a standardized format for identifying bank accounts across borders. With IBAN, international transactions become more straightforward and error-free.

 

What IBAN Has to Offer?

 

  • Global Connectivity
  • Accuracy and Efficiency
  • Compliance and Security
  • Customer Convenience

How Can I Get My IBAN?

You can get your IBAN via:

Internet banking

Mobile banking

Email/SMS communication from the bank

FAQs

What is IBAN?

International Bank Account Number (IBAN) is a standard international numbering system developed to identify an overseas bank account, and a method of alignment with global payment standards.

How Would IBAN Benefit Me?

  • Speed-Up Digital Verification: Quick verification of beneficiary bank accounts when making online payments.
  • Error Reduction: Minimizes the risk of errors in bank account numbers.
  • Improved Processing: Enhances payment processing speed and efficiency.
  • Facilitates STP: Enables straight-through processing of both local and international payments, eliminating manual intervention.

Who Uses IBAN?

Approximately 54 countries use IBAN, mainly member countries of the European Union. In the Gulf region, UAE, Saudi Arabia, Kuwait, and Bahrain use IBAN.

Do I Need an IBAN?

All bank customers who receive or make international fund transfers will require an IBAN. If you have multiple bank accounts, you will need an IBAN for each one.

When to Use IBAN?

IBAN is activated only for international transfers, both inward and outward, at this time.

How Can I Get My IBAN?

You can get your IBAN via:

  • Internet banking
  • Mobile banking
  • Email/SMS communication from the bank

Do My Existing Account Numbers Become Invalid with the Introduction of IBAN?

No, your existing account numbers will continue to be valid. IBAN is not a new account number. It simply represents the existing account number in a recognizable ISO standard format. The adoption of IBAN does not require changing or replacing existing account numbers.

Will There Be Any Additional Charges Associated with Using IBAN?

There is no additional charge for using IBAN other than our normal transaction processing fees. We will communicate any changes to the fees and charges.

Will I Need My IBAN to Receive Transfers from Outside of Oman?

Yes, you will have to provide your IBAN to payers/senders.

Is the International Bank Account Number (IBAN) a Substitute for a SWIFT Code?

No. The SWIFT code is an identification code for the bank to use when making transfers between banks. The International Bank Account Number is an identification number for the individual making the transfer, varying for each person and account.

How Many Digits Are in the International Bank Account Number?

The length of the International Bank Account Number varies from country to country. In Oman, the International Bank Account Number consists of 23 numbers.