International Bank Account Number “IBAN”
What is IBAN?
- IBAN stands for “International Bank Account Number”.
It is a bank account number that is recognized by banks and other financial institutions around the world.
You will need to use an IBAN to send or receive any local and international transfers
Why IBAN will be used in transfers?
- IBAN is an accurate account number and internationally accepted that facilitates funds transfer more accurately
When will the bank apply the IBAN ?
- Effective 30 June 2020, customers will be required to start using IBAN in sending or receiving local and international transfers
How can I know my IBAN?
- You can know your IBAN by visiting the nearest branch or calling ABK-Egypt call center 24/7 at 19322
Will my existing account number will still be valid?
- Your existing account number will remain valid without any changes. IBAN is a different electronic format of your account number that will be used only in sending or receiving any local or international transfers
What will happen to my transfers after June 2020?
- Effective 30 June 2020, it will be necessary to use IBAN when receiving or sending local and international transfers from or to your account. However, using both account number and IBAN will be accepted until IBAN is fully launched by the Central Bank of Egypt across the country,
after which no transfers will be accepted without using IBAN and the bank will be informing you with the exact timing according to CBE launch completion