IBAN

Meaning

The IBAN (الآيبان) is the standard form of a bank account number used for transfers. A Saudi IBAN is 24 characters: the country code SA, two check digits, a two-digit bank code and an eighteen-digit account number. The check digits let any system catch a mistyped IBAN before money is sent, which is why payroll systems, WPS and supplier records validate it on entry.

A business needs its own IBAN on every invoice and statement so customers can pay without asking, and its suppliers' and employees' IBANs on file so payment runs go out as bank files. The IBAN belongs to one account at one bank; a change of bank is a change of IBAN, and a supplier asking to "update" one by email is the commonest payment fraud, so a new IBAN is confirmed by phone with a known contact before use.

Also called: Saudi IBAN · bank account number · الآيبان

Example

Al Noor's invoices carry IBAN SA03 8000 0000 6080 1016 7519 under "Bank details". When an employee changes bank, HR enters the new IBAN, the system checks its digits, and the next WPS file carries it; the payslip shows the last four characters.