> Of M R > The concept of IBAN is interesting. > Is there a numeric equivalent of the country & bank > code, so that we can do any transaction using the > simple ATM.
"In effect, the IBAN is additional information put on the front of the national account number format2 of each country. Validation is performed by check digits and a single, simple, algorithm. The algorithm covers the whole IBAN, and ensures, for example, that individual digits are not transposed. Recognition is in two parts. The IBAN commences with the ISO 3166 two-letter country code." http://www.ecbs.org/iban.htm "The Citigroup Private Bank will be issuing IBANs numbers in September. Your IBAN will be displayed on your September statement." http://www.citibank.com/privatebank/iban.htm > For the country, their telephone code can be used. > For the banks, I think they already have a numeric > swift code. "An IBAN is not a new account number, but simply a new format for an existing bank account number that will be recognised internationally." "A comparison with a telephone number can help illustrate this. For local calls the basic phone number is sufficient, for international calls the country and area code are required. Similarly with payments, the basic account number can be used domestically, but the IBAN should be used for international payments. The following is an example of an IBAN for an Irish bank account: IE99 BOFI 9014 9012 3456 78 This IBAN is constructed as follows: IE Country Code for the Republic of Ireland 99 Check digits for validation BOFI First four digits of Bank Identifier Code 901490 National Sort Code 12345678 Customer Account Number" http://www.bankofireland.ie/html/gws/about_us/codes/codes/iban.html "Where a country has already an account numbering scheme in place, the IBAN will incorporate it." "Since 1 October 1997, banks may issue and customers may use the IBAN. SWIFT's Payments Maintenance Working Group agreed on the use of the IBAN within SWIFT messages. The IBAN can be used in any account number field or in the optional party identifier line of the party fields, wherever an account number can be present today. " http://www.swift.com/index.cfm?item_id=2941#P805_43813 -- Terry Simpson Human Factors Consultant [EMAIL PROTECTED] www.connected-systems.com Phone: +44 7850 511794
