The International Bank Account Number (IBAN) is a new standardized international format for your bank account number. IBAN has been established as a part of Riyad Bank’s drive to comply with the international payment standards.
What is IBAN?
IBAN is a mandatory requirement to send and receive local and international payments between banks in a secured way
The IBAN follows an internationally accepted standard
IBAN is not a new Bank Account Number
IBAN will include additional characters and numbers around your current Bank Account number
Your present Bank Account Number will not change
Increased compliance to internationally accepted standards means fraud becomes almost impossible
IBAN is consistent with international banking systems which makes it easier to process transactions with local and international banks
IBAN eliminates delays in receiving payments
Verification of beneficiary accounts reduces errors triggered by entering incorrect account numbers
How to Find IBAN Number?
You can get the IBAN of your account through one of the following channels: