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A typical British bank statement header (from a fictitious bank), showing the location of the account's IBAN. The International Bank Account Number (IBAN) is an internationally agreed upon system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors.
As of February 2014 all countries in the Single Euro Payments Area have switched to an IBAN-based system for clearing (including TARGET2 for cross-border transfers). The national bank codes have been integrated into the IBAN definition, in most cases at the start of the new account number (starting at position 5 after the common prefix of two ...
Other countries, however, have or had codes which are equivalent to sort codes, but with formats unique to the country concerned. Examples include: Germany/Austria: Bankleitzahl (BLZ) – superseded by and incorporated into the IBAN as part of SEPA standardization; Switzerland: Bankenclearing-Nummer (BC-Nummer) Australia: Bank-State-Branch (BSB)
World map by current account balance (% of GDP), 2023, according to World Bank [1]. This is the list of countries by current account balance, expressed in current U.S. dollars and as percentage of GDP, based on the data published by World Bank, United Nations Conference on Trade and Development and Organisation for Economic Co-operation and Development.
Comparisons of national wealth are also frequently made based on purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. Other metrics, nominal GDP per capita and a corresponding GDP (PPP) per capita are used for comparing national standard of living .
The overlapping issue between ISO 9362 and ISO 13616 is discussed in the article International Bank Account Number (also called IBAN). The SWIFT network does not require a specific format for the transaction so the identification of accounts and transaction types is left to agreements of the transaction partners.
The IBAN was originally developed to facilitate payments within the European Union but the format is flexible enough to be applied globally. It consists of an ISO 3166-1 alpha-2 country code, followed by two check digits that are calculated using a mod-97 technique, and Basic Bank Account Number with up to thirty alphanumeric characters. The ...
The data from swift IBAN registry (same link as above: International Bank Account Number (IBAN) | Swift) lists official published specifications for Djibouti, Burundi, and Nicaragua. These should be removed from the experimental list and their official structure detailed in the "Formats by country" list.