![]() The IBAN was originally developed to facilitate payments within the European Union but the format is flexible enough to be applied globally. It was originally adopted by the European Committee for Banking Standards, and was later adopted as an international standard. Its a standardised way of identifying a bank account, which reduces errors and delays in sending. IBAN is a bank account number that is recognised by banks and other financial institutions around the world. The International Bank Account Number (IBAN) is an international standard for identifying bank accounts across national borders. branch code branch name 0001: akti miaouli - piraeus : 0002: ampelokipoi : 0003: thessaloniki : 0004: small & medium business : 0005: athens : 0006: personal banking. Further to the Central Bank of Egypt regulations, effective 30 June 2020, International Bank Account Number (IBAN) was introduced. For example, the standard price for an Outward Payment processed at the branch to a SEPA Country is €30, while the same payment can be executed through BOV Internet Banking at only €1 (if payment amount is under €1,000) or at €4 (if payment amount is over €1,000).” In addition to speed of service customers effecting electronic payments, instead of utilizing the branch network, stand to benefit from substantially reduced tariffs. The Executive Head responsible for Payments at Bank of Valletta Mr John Cassar Torreggiani stated that, “this initiative forms part of the Bank’s strategy to encourage customers to use the IBAN when effecting both local and cross-border payment transfers. The details within the IBAN include the country, the bank, branch and account number, and do not necessitate any other information about the payment recipient. Bank of Valletta has just introduced an IBAN Validator and IBAN Converter on its website This will give customers the facility to validate any International Bank Account Number (IBAN) keyed onto the website, while the BOV IBAN Converter will provide the IBAN from any valid BOV account number.īOV said that the IBAN Validator and Converter is a very useful tool, as the use of IBAN speeds up payments across country borders and is often associated with reduced tariffs.
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