You May Still Be Wondering...
Are IBAN and SWIFT the same thing? 🔄
No. IBANs are used to identify individual bank accounts. SWIFT numbers, on the other hand, are used to identify banks themselves.
Are IBAN numbers used in the US? 🗽
No. As things currently stand, the United States does not participate in IBAN system. US banks use another system entirely in order to identify bank accounts.
Is an IBAN number safe to give out? 🔐
Yes. IBANs are very safe to provide to others from whom you expect to receive money. Because anybody can deposit funds directly into a bank account using an IBAN, they are convenient. However, because only the account owner can withdraw those funds, they are also very safe.