What is IBAN?
In the scope of European Union regulations a standard of account number, International Bank Account Number (IBAN), has been developed to increase the quality and speed of cross border money transfers and reduce the costs.
The aim of IBAN is to prevent errors and delays resulted from these errors in money transfers performed via European banks and other financial houses Owing to IBAN the money will be transferred much faster and correctly from the sender's account to receiver's account. Thus, delays resulted from the transaction errors and additional costs are eliminated.
What kind of facilities does IBAN provide?
Account numbers are created according to the rules of each bank. Because there is not a standard in this structure, errors and delays resulted from these errors may emerge. In the countries where IBAN is put into practice bank account holders are provided with an IBAN. IBAN having a definite standard and form for each country includes a two-digit "control internal number" which is obtained by a special algorithm. When a customer who wants to transfer money to another country or a bank informs the sender bank of IBAN, the IBAN of receiver's account is checked by the sender bank before the money is received by the receiver bank. If the IBAN is incorrect the money is not sent and the wrong transaction is prevented.
IBAN in Turkey
IBAN is defined as 26 digits in Turkey.
How is IBAN used?
- Each bank provides an IBAN for every account number.
- IBAN is used instead of receiver's account number for money transfers.
- The sender's bank verifies that IBAN and the money is transferred to the receiver's account
- Because IBAN is not available for credit cards, it is not used for the payments made to credit card numbers.
- You can obtain your IBAN at Online Banking and make your EFT payments to IBAN.
How can you get your IBAN?
You can get your IBAN
- By using "IBAN Calculator",
- At Bank Asya Online Banking at "IBAN" page under "Accounts" menu,
- By calling Alo Asya at 0850 222 4 888,
- By visiting the nearest Bank Asya branch.