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Agile business owners have no shortage of abbreviations they need to juggle: from AP and AR to SMB and SEO, there’s no bottom to the alphabet soup. So if you’re looking to understand IBAN and what it means for paying your international, flexible team, you’ve come to the right place.

IBAN Explained

IBAN is short for International Bank Account Number. An IBAN is a standardized bank account number format widely adopted in Europe, the Middle East, and the Caribbean — as of 2020, it was in use in 77 countries. Each bank account has its own unique IBAN, and each IBAN contains all the information required for a member bank to transfer money to it — including a country code, a bank identifier code, a branch code, and the individual’s account number. Most IBANs contain both letters and numbers.


If you’ve encountered IBAN, then you’ve probably heard about SWIFT, which is another code used when transferring money internationally. SWIFT is a financial messaging service that connects over 11,000 financial institutions in over 200 countries to make international payments easier. Each institution has a unique SWIFT code, similar to a routing number or ABA code at your personal bank. Most, but not all, American banks have a SWIFT code — and if receiving money internationally, everyone banking at that institution will use the same SWIFT code.

Because SWIFT codes are the universal code for international money transfers, they’re required any time you send money internationally.

IBANs in Liquid

Liquid makes it easy to ensure your vendors get paid correctly with a dedicated vendor portal. When your vendor enters their bank account information into Liquid, they’ll be prompted to enter their bank’s SWIFT code. If they live in a country where financial institutions issue IBANs, they’ll also enter that number. Otherwise, they’ll enter their local bank-issued account number and any other information normally required for their country.

If a vendor needs to update or change their payment information, they can always access it at their convenience.

Try Liquid today to access everything you need to pay your flexible team. From automated invoice matching to bench management and easy onboarding, Liquid has it all in one unified platform. Contact Liquid today to schedule an in-person demo today.



2 min read

What is IBAN (And Why Does It Matter To Your Business)?

Great news for our valued customers!


We're in the process of creating LiquidTrust – our new, easy-to-use, and secure global payment solution based on all your feedback. Whether you choose direct payments or the added security of escrow, LiquidTrust is designed to fit your business needs.


Learn more and request early access to our beta version. We're confident it will be a game-changer for how you grow your business.

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