The IBAN is an international standard for identifying bank accounts across national borders in a way that would minimize the risk of propagating transcription errors. It is used in facilitating payments and is widely adopted by many countries from around the world.
IBAN guarantees the customers a unique international customer account number which can be used confidently in making or receiving payments nationally or internationally. It is the International accepted standard for numbering bank customer accounts and the ISO standard methodology for verifying the accuracy of the IBAN.
Frequently Asked Questions
Why do I need IBAN?
- The existing account number will be converted to the IBAN number (which will contain the existing number) and it will show on all bank statements and on channels such as Internet banking, Mobile Banking,…
- To make a transfer to an account of another person or company, you will need to obtain their new IBAN number to be able to perform such a transfer
- If you need to receive funds from another person or company, you will need to communicate to the other party your new IBAN number
Will my existing account number change?
No. Your existing account number will continue to remain the same, however there will be new prefixes or suffixes introduced to your existing account number in order to convert it into International Bank Account Number (IBAN) format. With this change your IBAN number will be globally unique.
What is IBAN and how does it help?
- The IBAN has been introduced to standardize the identification of bank accounts. It is essential to understand the following points regarding IBAN:
- The IBAN is not a new account number.
- Existing account numbers will be replaced with additional prefix and calculated checksum characters will appear in front of existing bank account numbers.
- The original bank account number, plus the additional characters, will be known as the IBAN.
- Implementing the IBAN system will help improve the quality of information exchanged between banks both within in the country and internationally.
- Its reliability and accuracy will reduce error and delays.
The main benefit is that IBAN provides you with quicker processing of your funds transfer. Since banks are required to check the accuracy of the IBAN at the point of initiating a fund transfer, it can only make the funds transfer which carry the correct IBAN.
When do I need to use IBAN?
IBAN have to be used for the below payments:
- Fund transfer within the country, i.e. domestic transfer, book transfer within QNB accounts in the country
- Fund transfer to an account in a country that has adopted IBAN
- Receiving a fund transfer from an account in the country
- Receiving a fund transfer from an account in a country that has adopted IBAN
- Receiving a fund transfer from an account in a country that has NOT adopted IBAN
Where do I get my IBAN for my QNB accounts?
You can check your new IBAN on your e-Statement and Internet Banking. Also you can generate your IBAN using the IBAN convertor tool available on our website (qnb.com/IBAN)
You can also obtain information by contacting your branch or contacting QNB Customer Care Centre on toll free number 08000420294 (inside the UK) or on +44 (0)2076472600 (outside the UK)
The below is an example of how the new IBAN account number will look like:
Current Bank Account Number : 4311 111222 033
New IBAN Account Number GB 30 QNBA 121212 11122233
• GB indicates the country code
• 30 indicates the check number
• QNBA indicates the bank code
• 121212 indicates the sort code
• 11122233 indicates the UK account number
Can QNB help me obtain the IBAN for account numbers with other banks?
QNB is unable to provide IBAN for accounts held with other banks and advises you to approach the respective bank for assistance.
Do my overseas remitters need to quote my IBAN?
Yes. You should request that your remitter make fund transfers to your IBAN account number.
Do we need to quote IBAN for inter-account transfers (payments within QNB)?
Where both the debit and credit accounts are with QNB, you need to provide the IBAN number (if same beneficiary and no Global ID).
I am currently using electronic delivery channels (i.e, Internet Banking, Mobile Banking, etc). Do I need the IBAN when initiating electronic payments to Kuwaiti banks?
Yes. Please ensure that you provide a valid IBAN at the time of initiating the payment instruction to ensure that your beneficiary gets the credit on time.
I want to send funds outside of the country, however the beneficiary is not aware of his IBAN, what should I do?
If you are sending funds to a country where IBAN is not implemented then you are not required to quote the IBAN number of the beneficiary. Additionally, it is the responsibility of the beneficiary to communicate their IBAN to you.
To make payments in GBP or other currencies (including direct debits) or receive payments within the United Kingdom, what instructions do I need to provide?
Please provide the account number and sort code, to ensure the timely receipt of funds into your account.