Ireland | Bank Payments | IBAN
The IBAN is made up of the following elements:
A two letter country code
A two digit check-digit for the entire IBAN
The basic bank account number (BBAN) which comprises the
routing code for the bank and the account number of the customer
The basic bank account number in Ireland is a fourteen digit
number comprising a six digit routing code and an eight digit account number
- all numeric.
The Irish IBAN consists of 22 characters, made up as
|ISO country code (IE)*
|IBAN check digits
**The Bank Identifier consists of the first four characters
of the SWIFT address. Some
Irish banks use a combination of letters and numbers in the account number
IE29 AIBK 9311 5212 3456 78
IBANs should only
be generated by the account operating bank.
EU law requires
all banks operating in the Euro currency zone to show a customer's IBAN on
their bank statements. Account holders are required to notify
their business partners of their IBAN on their letterheading and invoices.
In particular IBANs are required to be quoted on all payment instructions
from customers to their banks in order to qualify for the free or low cost
payment service for transactions of less than EUR 12,500 value.
IBANs can be
verified by performing a computational check of the account number
against the checkdigits.
The IBAN can be barcoded on paper documents (eg invoices)
using the PDF417 two dimensional barcode. This allows the IBAN and related
payment information to be quickly and accurately captured from a machine
readable paper based source.
The single barcode image can store:
The beneficiary account title
The BIC (eg SWIFT code) of the beneficiary's bank
The currency and amount of the payment due
Other details relating to the payee
This barcode is always used on the IPI form (International
Payment Instruction) which replaces the giro payment slip formerly found on
invoices and other demands for payment.