Orders from outside the Netherlands:
BIC and IBAN validation
The mandatory use of BIC and IBAN in all EU cross-border euro credit transfers can significantly increase the cost of international payments processing. This is through both the charges levied by banks for submitting invalid data and the cost of correcting rejected payment information.
IBAN (International Bank Account Number) - An introduction
What is an IBAN?
An IBAN or International Bank Account Number is a series of alphanumeric characters that uniquely identifies a customer’s account held at a bank anywhere in the world.
Why is the IBAN so important?
Cross-border transactions introduce a further level of complexity above that of domestic clearing, as there are many variations in the way countries undertake payment processing. Since it is unrealistic to expect the payment Originator to understand the subtleties of multiple domestic clearing systems, it is not surprising that error rates for international payments are significant. These errors frequently lead to payments being rejected, resulting in a negative impact on customer service and increased administration costs. The IBAN has been introduced to help reduce problems with cross-border transactions by providing a standard format for displaying and validating international bank account numbers.
How does an IBAN work?
An International Bank Account Number typically contains a two-character ISO country code, two check digits for validation purposes followed by the domestic bank code and account number.
Our IBAN and BIC code =
IBAN: NL42INGB0004 2012 07
BIC: INGBNL2A
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