FlyerTalk Forums - View Single Post - TA needs IBAN for processing refund??
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Old Dec 30, 2020 | 7:30 am
  #9  
bankops
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When providing international bank wire details, you always provide the instructions that the receiving bank want you to use. So if the receiving bank is in Europe, you provide the IBAN (which is your account number) and the BIC (SWIFT address) of your bank. If you receive funds at Wells Fargo US in a foreign currency you provide your account number and a specific BIC so that they know they need to convert to USD. Otherwise you provide a different BIC code if receiving funds in the currency of the account. The usual confusion comes from the mis-use of the term IBAN. An IBAN is simply a European standardised account number. So the instructions should have read Account Number/IBAN since these are the same thing. You provide the IBAN if you have and the Account Number if you do not have an IBAN.
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