An IBAN is a standardized international bank account number used for cross-border payments, especially in Europe (European Economic Area) and SEPA countries. It includes the country code, bank identifier, branch, and individual account number.

IBANs help ensure that funds are routed accurately and securely between banks in different countries. They are required for most international wire transfers and often used in B2B payments. It’s important to review IBAN formats if you work with vendors or customers in multiple jurisdictions.

If you’re processing payments in or from Europe, you’ll likely need to provide an IBAN during account setup to receive payouts. AltoPay requests this information during the underwriting process to help avoid application delays, failed payouts, and compliance issues.