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Banking & Payments

IBAN

Also called: International Bank Account Number, IBAN number

An IBAN is the standardised international account number used across Europe and much of the world, encoding country, bank and account in one string with a checksum. That checksum is the point: it catches mistyped digits before a payment is sent, which the US account-plus-routing-number format cannot. The US is the largest economy that has never adopted it.

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