IBAN

A standardised international format for identifying bank accounts across borders, used to facilitate international wire transfers reliably and accurately.

Founders who receive international payments or pay international suppliers need to understand IBAN formatting. An incorrect IBAN can delay or misdirect payments, causing cash flow disruption.

A UK-based founder receives payment from a German client who needs her IBAN to process the bank transfer. She provides the IBAN format specific to her UK bank, ensuring the payment routes correctly without delays.