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IBAN is the acronym for ISO 13616 standard compliant International Bank Account Number.
An IBAN contains information relating to the country in which the IBAN was issued and where the IBAN account is held, bank code of account holder's bank as well as the account number itself. International Bank Account Number (IBAN) is an international standard for identifying bank accounts The main purpose of IBAN is to facilitate the automatic processing of money transfers, to improve the speed and accuracy of your payment transactions. Standard Chartered Bank Pakistan Bank code - SCBL SWIFT/BIC Code - SCBLPKKA IBAN facilitate accuracy and validation of account number of the recipient at the point of initiating a payment, regardless of the bank/country where customer maintains his/her account. It allows exchanging account identification details in machine readable form, hence ensure faster and more reliable electronic customer fund transfers while minimizing risk of delays.
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Answered By StudyChaCha Member |