1. IBAN is used when payment is made in EUR currency 2. It is a series of alphanumeric characters that uniquelyidentifies a customer's account held at a bank anywhere in the world 3. The first 2 alphabatic character identify the country in which the account is held while the next 2 digits are check digits 4. The final part of the IBAN is the domestic account number which in most cases consist of the account number itself