Do you have to make a payment or an international transfer and want to make sure that the bank account to which you are sending money corresponds to the country and the person to whom you suppose it belongs? Read this post to know the best tool to do this!
In today’s increasingly interconnected and globalized world, the idea of having to pay an international vendor or supplier for a product or service is becoming more of a daily reality. That is why, if you are about to make an international transaction, you should know some basic things about the IBAN code and its importance in international transfers.
The International Bank Account Number (IBAN) is a mechanism for identifying bank accounts across national borders that have been agreed upon worldwide. The European Committee for Banking Standards (ECBS) established it to facilitate international financial transactions in 1987; and in1992 endorsed by the European Council.
The IBAN is a unique identification number that allows banks to identify accounts across many countries and currencies. It can contain up to 34 alphanumeric characters.
It is utilized in SEPA debit/credit transfer systems as an account number and as a BIC in SWIFT. This number is analogous to the United States Social Security Number or the United Kingdom’s National Insurance Number.
In this way, one can be sure that there is a minimum check regarding the origin and destination that our money will have on its way to our supplier’s account. However, what guarantees can you have that everything will go perfectly and that the account is not related to tax or illicit debts that could harm you?
How Can You Know All The Bank Details In My Transfer With An API?
Through the services of an API you can perform the same checks that a bank entity does to an international transfer, but from the comfort of your computer and only using your internet connection.
This is possible since an API is a software solution that takes advantage of the latest technologies regarding AI; and databases and therefore can collect hundreds of data in moments; in turn, it can offer a service equal to that of a bank; but within your reach.
We understand if you find it difficult to understand and if you need proof rather than an explanation; therefore we leave this API at your disposal so that you can do your own tests; and when you have realized the potential that this service can provide you; and your projects, we know you will be delighted to have discovered this API!
Manage Your Money Intelligently Using An IBAN Validator API!
With IBAN Validator API, you can validate any bank account information (IBAN, BIC/SWIFT, and BBAN) programmatically. It will get the IBAN and offer validation to you if the number is correct.
You can also access further information on the bank, giving you more information about where the account is located. It will validate any number from any Euro country and can also generate IBAN.
IBAN Validator API is also useful for easily converting BBAN numbers to IBAN. If you need to give someone outside your nation your bank information, they will need IBAN, so you will automatically generate these numbers for them. More importantly, if any taxes apply to your transactions, you will be notified ahead of time.
Related Post: Avoid Scams By Using This Bank Account Verification API!