Glossary

International Bank Account Number (IBAN)

The International Bank Account Number (IBAN) is an international standard for identifying bank accounts across national borders in a way that would minimise the risk of propagating transcription errors.

Related Terms

  • Electronic Funds Transfer (EFT)

    Electronic funds transfer or EFT refers to the computer-based systems used to perform financial transactions electronically. An EFT is the electronic exchange or transfer of money from one account to another, either within the same...

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  • Red Flag

    A potentially suspicious or money laundering situation raises a Red Flag or warning signal.

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