Why use the IBAN?
The IBAN makes automatic processing of cross-border payments easier and enables the bank to check, immediately upon receipt, whether the account numbers are correct. This ensures a fast credit to the account. At the same time, you avoid fees for manual processing of transfers.
How the IBAN is constructed
The IBAN is an international standard (ISO 13616). The number comprises maximum 34 alphanumerical characters, which are structured as follows:
Two letters representing the home country of the account holding bank (ISO 3166 country code with two letters, e.g. DK for Denmark)
Two numbers that are a control key
Maximum of 30 alphanumeric characters that identify the bank and the ordinary account number
An IBAN in Danske Bank consists of 18 characters, which comprise the ISO country code + control key plus registration number 3000 and the ordinary account number of 10 characters.
Example of the IBAN in Danske Bank Denmark
Account number in Danske Bank: 4420 3161123456