Suits Me® Simplified: Banking 101

Online Banking: What is an IBAN Number?

You’ll need an IBAN number if you need to send or receive money from abroad, but what is an IBAN and how do they work?

Acronym IBAN as International Bank Account Number which can be found via online banking platforms

If you need to make a payment to another bank account within Europe, you’ll usually need the IBAN number of the international account, so you can ensure that the money arrives safely.

To save time, most banks can usually generate IBAN numbers via your online banking platform, even if you don’t have the recipient’s details to hand.

What is an IBAN Number?

An IBAN number serves as an international bank account number used for bank accounts held in Norway, Switzerland, Liechtenstein, Hungary, and the EU. It encompasses all the necessary information to ensure the safe arrival of payments, regardless of where your money is traveling within the EU.

Your IBAN number is a unique identifier for your own banking account and contains all the information needed to identify your country, bank, and the exact amount you want to send in just a few numbers and letters.

When online banking, you will be able to generate your own unique IBAN number. All the countries that use them recognize and adhere to a standard format for making and writing them.

What Goes into an IBAN Number?

IBAN numbers can contain up to 34 numbers and letters, depending on which country the account is located.

An example of an IBAN number is: GB20SMUK12233441741025 and is made up of several pieces of information. Broken down, the example IBAN number looks like:

GB | 20 | SMUK | 122334 | 41741025

  • GB – is your country code, in this case, Great Britain
  • 20 – these are the digits that are used to validate an IBAN and can vary across accounts
  • SMUK – these letters identify the banking provider you’re sending money from, in this case, Suits Me®, UK.
  • 12233 – represents the sort code
  • 41741025 – represents the account number

Your account number and sort code will be the same in your IBAN as they are when you use them within the UK

Where to Find your IBAN Number?

Your IBAN number can usually be located through your online bankingmobile banking app or bank statement. But if you want to send money abroad you will need the IBAN number of the account you wish to send money to. With your Suits Me account, you are able to transfer money internationally via a partner available in our app.

If you get the number incorrect, your banking provider may send your money to the wrong destination or may charge you for an invalid payment. It’s important to remember that even IBAN numbers with the correct format can still be incorrect, it’s worth checking with the recipient or banking provider before sending or receiving a payment abroad.

Another method to check an IBAN is utilizing an IBAN validation tool. This tool will provide information on its active status and whether it can facilitate payments.

It’s easy to open a
Suits Me® account


Choose an account to open

Let's figure out the best account for you

Selfie and ID 2

Just 10 Mins and a selfie to open your account

All we need is your completed application and your ID to get you up and running


3 Ways to manage your finances

A free contactless Mastercard® debit card and access to an online account and mobile app.