What is the ΙΒΑΝ?
The International Bank Account Number or IBAN, as it is commonly called, is a banking account structured according to the ECBS standards. Every banking account can be converted to an IBAN account by the bank in which the account is held.
What is the purpose of the IBAN?
The aim of the IBAN is to facilitate the automatic processing of cross-border credit transfers. Data correctness will be assured and manual intervention will be reduced.
How is the IBAN used?
- The IBAN is made available to the beneficiary by his/her bank.
- The beneficiary's IBAN is forwarded to the ordering customer.
- The ordering customer submits a cross-border credit transfer order, which includes the beneficiary's IBAN .
- The cross-border credit transfer message includes the beneficiary's IBAN, which has been validated by the ordering customer's bank. After receipt of the message by the beneficiary's bank, the beneficiary's account will be credited.
How can I find the IBAN format of an Alpha Bank account?
The account holder may find the IBAN format of his/her account either on the first page of his/her savings account’s passbook, or on the printed account statement mailed by the Bank monthly.
Whoever knows an Alpha Bank account number, may calculate the IBAN format.