IBAN payments use your International Bank Account Number to send and receive money across banks, especially in Europe. Share your IBAN once and anyone in the SEPA zone can pay you like a local transfer, without awkward account formats or missing digits.

What is an IBAN in payments?

An IBAN (International Bank Account Number) is a standardized account identifier used for bank transfers. It tells payment systems which country, bank, and account should receive the money. For most euro payments in Europe, the IBAN is the only account detail you need.

An IBAN is not a card number. Card payments use PANs and tokens; IBAN payments move money account-to-account through schemes such as SEPA. You use your IBAN for salary, rent, invoices, and transfers from friends, not for tapping in a shop.

How IBAN payments work

When someone sends you an IBAN payment, they enter your IBAN, your name, the amount, and often a reference. Their bank routes the payment through SEPA (for euros in the SEPA zone) or another scheme for non-euro or non-SEPA routes. The money lands in your account when the scheme settles, which can be the same day or within one business day for standard SEPA, or in seconds for SEPA Instant.

Outgoing IBAN payments work the same way: you need the recipient’s IBAN and name. bunq shows your IBAN in the app under Bank Account details so you can copy and share it safely.

IBAN payments vs. card paymentsBoth move money, but they fit different situations.

IBAN / bank transfer: Best for rent, salary, large bills, and paying someone else’s account. Lower cost in Europe, no card terminal needed. Not for instant in-store checkout.

Card: Best for shops, online checkouts, and subscriptions. Uses your debit card or Credit Card at merchants.

Many people use both: cards for daily spending, IBAN for structured payments.

Local IBANs for cross-border life

Employers and landlords sometimes hesitate when your IBAN starts with a foreign country code. bunq offers Local IBANs in supported countries so you can receive salary and pay bills with a familiar local format, linked to the same account. Combine with Instant Payments when you need money to arrive in seconds.

Common questions

Do I need a BIC for an IBAN payment in Europe?For most SEPA euro transfers, IBAN alone is enough. Outside SEPA or for some legacy forms, a BIC/SWIFT code may still be required. See BIC/SWIFT Code (Payments) for when it applies.

Can I pay with IBAN in a store?

Retail checkout uses cards or cash, not IBAN entry. Some invoices include an IBAN for bank transfer instead of card payment.

What if I use the wrong IBAN?

The payment may be rejected or sent to the wrong account. Always confirm the IBAN with the recipient before sending. If you make a mistake, contact your bank immediately to request a recall where possible.