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Blog  /  Banking  /  How to get a UK IBAN number?
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How to get a UK IBAN number?

Time to read: 5 minute(s)

How do I get money from another country, and what do I need to do? First of all, you need to find a person who will send you the money. But that’s not all because you will also need to get an IBAN account online to receive it.
Even though an IBAN bank account consists of a massive number of characters, it actually makes the process of sending and receiving money from abroad much easier than it used to be.
This article discloses how to get an IBAN number from a British bank and why you need to do it. In addition, we will look at all the questions that relate to this number so that even if you have never dealt with IBAN, everything becomes clear.

What is an IBAN number, and why is it so important?

When one first looks at the IBAN number, they may not understand a lot, but this number will give a lot of valuable information to the bank. For example, it shows the number of the account, in which bank the account is opened, in which country, etc. Thanks to these numbers, the probability of erroneous money transfers decreased, and the transfers became much faster.
Today there is almost no country in the world that doesn’t use IBAN. These countries are only New Zealand, Australia, and the United States. As for European countries, almost all of Europe uses this system, and quite successfully.

How many digits does an IBAN number contain?

The specific answer to this question will depend on the country. In any case, its length cannot exceed 34 digits. If we are talking about the UK, the IBAN number of that country contains 22 characters.
Let’s look at a specific UK IBAN number and understand what important information each component of this number provides:
GB 29 LOYD 601613 77047932

  • GB – UK code;
  • 29 – control value. Thanks to this value, it is possible to understand that the number does not contain errors. These numbers are calculated individually for each client of the bank;
  • LOYD – identifier of the bank. In this case, we can see that the client’s account is opened in Lloyds bank. Thanks to this identifier, other banks will be able to understand which bank they should send money to, and this also allows to avoid mistakes;
  • 601613 – this code is called a sorting code. Thanks to these numbers, it is possible to understand which bank opened the account;
  • 77047932 – number of the client’s account opened in the bank.

Where can I see the IBAN number?

Many bank customers are caught off guard by the search for an answer to this question. They really can’t figure out where they can see the IBAN number. In fact, everything is straightforward, and this number can always be found in the statement, to be precise, in its upper-right corner.
If this method of finding an IBAN number did not help you, you could always use a special IBAN calculator or find this number through your online client.
If you are planning to send money to someone, make sure you use the correct IBAN number. In this case, it is better to double-check everything several times instead of sending money to the wrong recipient.
If you do not want to check your IBAN number with your bank, you can always use a special online tool to verify this number. Your main goal is to eliminate even the slightest possibility of sending money to the wrong address.
Once you know the IBAN number for sending money, you will need to choose a service that will provide the ability to send international money transfers. It does not necessarily have to be a bank because sending money through banks often involves additional overhead costs, and the speed usually has to wait several days.
Choosing a provider, be sure to clarify how much his services will cost and how fast the translation will reach so that in the future, it will not be a surprise for you.
Be sure to check authoritative sites such as Trustpilot for at least a few reviews of the company you have selected. Find out what existing clients say about the company, who have already used its services, and how satisfied they are with the quality of service.
Even if the ban system seems confusing and complicated to you now, it is designed to make international transfers even more accessible, safer, and more convenient for users. As soon as you make your first transfer using an IBAN number, you’ll experience all these benefits for yourself.

How is the UK IBAN number different from others?

Earlier, we looked at the structure of the UK IBAN number and realized that it contains 22 characters. For example, many other numbers include 30 characters or more. Still, by and large, the purpose of any IBAN number is the same – as soon as possible and most correctly to get all the necessary information about the recipient of the payment, about what country he is in and at what bank should send money. The main task of such an international system was to make payments faster and more secure.
In addition, we have found out that you can get an IBAN number by contacting the bank and looking it up in a statement. To check such a number, you can use special online services, which are not too difficult to find.

How and where to get an IBAN number in the United Kingdom?

When you transfer money abroad and know the recipient’s IBAN number, the easiest way to do this is to request it from the recipient himself. It will allow you to get the correct number quickly and send the transfer without delay. In addition, you can always use publicly available tools to find the IBAN number and verify it.
It is worth saying that IBAN numbers were originally invented for use exclusively in the territory of European countries, but in the future, their use has gone far beyond Europe. After all, they do make international payments faster and easier, which is appreciated in other countries. Today IBANs are used in almost all European countries, some states of North Africa, and the Middle East. At the same time, Canada, the US, Australia, and New Zealand refused to use this system.

Do I have to go to the bank to make an international transfer?

Banks have become so familiar to all of us that when there is a need to make a financial transaction, many people immediately go to a bank, but it is not always rational. If you decide to send money to the UK or any other country by going to a bank, you may pay an increased fee and additional charges. A good alternative is to contact a company that specializes in international transfers. With their help, you can send money to another country quickly and safely without making unnecessary transactions. You must choose which company to use. Here it is vital to compare all the conditions that can affect the final cost of the money transfer service in one way or another.

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