IBAN

International Bank Account Number, a format defined by ISO 13616 that combines a country code, two check digits and a domestic account identifier into a single validatable string. A Lithuanian IBAN is 20 characters and begins LT. An Egyptian IBAN is 29 characters and begins EG.

The check digits are why it exists. A sending system can catch a typo before the money moves.

Two common misunderstandings are worth correcting. An IBAN is an identifier for an account, not the account itself, and the two are separable, which is what makes a virtual IBAN possible. And having an IBAN does not make an account reachable by SEPA. Many countries outside Europe use IBANs, including Egypt, Saudi Arabia, the United Arab Emirates and Jordan. Those are valid IBANs and they are not SEPA-reachable.