The word Were going, acronym for International bank account number, has been in the public domain for years, since 2008, when it was introduced in the financial world. Everyone knows this term, but there are several people who do not know exactly what this tool is for. It is a unique code for each current account that defines its own Bank account details international and is a fundamental means of making money transfers. The length of the IBAN in Italy is 27 alphanumeric characters, but in some countries it also reaches a maximum of 34. Banks can easily check the details of the current account thanks to the characteristics and information provided by Iban itself.
How the Iban is composed
The 27 characters are divided as follows: the first two letters allow you to understand in which country the current account is active. In Italy the acronym is IT. The two numbers that follow, on the other hand, are the CIN and serve as control code. The letter that comes after indicates the Italian CIN and precedes the five numbers of the ABI, that is the reference bank. Five other numbers to follow represent the CAB, the bank code, which identify the branch in which the current account was opened. The final twelve numbers are those of the account itself, with the addition of a series of zeros if the account figures are less than twelve.
How the Iban Code can be formulated
If you have all the useful information you can get the Iban code directly. Clearly you need to know the details of the current account, the two CIN codes, the CAB. On Internet there are some specific programs that give the possibility to calculate the Iban online. Here is an example: Iban calculator
What is the BIC code
Another acronym that often occurs when we talk about current accounts and payments is the BIC, acronym for Bank Identifier Code, a code consisting of eight to eleven characters that is used for international money transfers. To find out what your BIC code is, just contact your bank.
The Iban of the postal book
Even those who have an account opened with Italian post is in possession of the Iban code, which is reported in the contract signed by the customer. Almost always this type of account is stipulated for the crediting of the pension or salary and for the debits of services and utilities such as electricity and gas.
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