What is IBAN?

What is IBAN?

IBAN stands for International Bank Account Number. An IBAN is not a new account number, but simply a new format for an existing bank account number that will be recognized internationally. The main purpose of IBAN is to facilitate the automatic processing of money transfers, to improve the speed and accuracy of your payment transactions. The benefit of IBAN to the customer is the assurance of making a payment to the correct account without delay. Please ensure that the IBAN for your account is communicated to all parties from whom you are expecting a remittance to your account. In case the IBAN is not used, the processing of both Inward and Outward payment in your account IS LIKELY TO BE REJECTED OR MAY BE DELAYED after June 30, 2013. If you have standing orders for effecting payments from your account to beneficiary accounts held in banks within the Pakistan other than Askari Bank, then you will need to amend the same, by providing the IBAN equivalent for the beneficiary account. Please note, all Askari Bank payments / instructions submission channels will be enhanced to accept IBAN in beneficiary account field, by the end of June 2013. Should you require more information on IBAN, you may contact our 24-hours Phone Banking team on: 111-000-787 within Pakistan or 0092-51-2096003 & 2096022 from abroad. For more information, please click "Frequently Asked Questions" or visit your nearest Askari Bank branch.