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Do banks in US operate with IBAN?

Updated: 9/11/2023
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16y ago

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My understanding is that the US has not adopted the IBAN system and won't until 2010. Some US banks are in the SWIFT network which makes it easier to receive international wire transfers.

The remaining US banks require the use of corresponding banks for receiving international wire transfers (and have just a routing number). More money disappears from the wire amount in fees when there is no SWIFT code.

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16y ago
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