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Sunday 11/22/2020
banking on safe transcription
The International Standard for IBAN has just been updated
Long gone are the days where money wired overseas took days to arrive, and sometimes didn’t arrive at all. The International Bank Account Number (IBAN) allows for the safe and rapid transfer of money all over the world, as it represents the universally agreed way of identifying bank accounts in almost a hundred countries and territories. An instrumental tool, it is made possible thanks to the two-part ISO standard, ISO 13616, which has just been revised.
SO 13616-1 and ISO 13616-2 were developed by technical committee ISO/TC 68, Financial services, subcommittee SC 8, Reference data for financial services, the secretariat of which is held by SNV, ISO’s member for Switzerland. They can be purchased from your national ISO member or the ISO Store.
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