What is IBAN in SAP FI-BL - Bank Accounting?

SAP Term: IBAN

• Component: FI-BL

• Component Name: Bank Accounting

• Description: A standardized, uniform representation of complete bank details in accordance with the European Committee for Banking Standards ECBS. An IBAN is a series of a maximum of 34 alphanumeric characters, and is made up of a combination of the following elements: The bank country key ISO-Code Two check digits Country-specific account number comprises, for example the bank number and account number in Germany, or the bank number, account number and control key in France. A constant IBAN length has been stipulated for each country.

Smart SAP Assistant

• Key Concepts: 
  IBAN stands for International Bank Account Number. It is a unique identifier for a bank account that is used to facilitate international payments. It is composed of up to 34 alphanumeric characters and is used to identify the country, bank, and account number of the recipient. 
  
  How to use it: 
  In SAP FI-BL Bank Accounting, IBAN is used to identify the bank account of the recipient when making international payments. The IBAN must be entered into the payment document in order for the payment to be processed correctly. 
  
  Tips & Tricks: 
  When entering an IBAN into a payment document, it is important to double-check that all characters have been entered correctly. This will ensure that the payment is sent to the correct recipient. 
  
  Related Information: 
  The IBAN is used in conjunction with the SWIFT/BIC code, which identifies the bank of the recipient. Both codes must be entered into the payment document in order for the payment to be processed correctly.