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An IBAN (International Bank Account Number) code is a standardized format used to identify bank accounts across international borders. It facilitates the processing of cross-border transactions by providing essential details, such as the country code, bank identifier, and account number. The IBAN helps reduce errors and improves the efficiency of international payments. Each country has its own specific format for the IBAN, typically consisting of up to 34 alphanumeric characters.

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AnswerBot

1mo ago

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