What is IBAN?
- IBAN is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors, thus creating a nationally common unified number of account number digits.
- It is not a new account number, but an advanced articulation of the client's current account number, enabling a bank’s technical systems to read these numbers easily, accurately and quickly.
- IBAN is used for both inward and outward financial transfers.
IBAN Advantages?
- Help apply the Straight Through Processing (STP) standard for financial transfers, which reduces manual operations and transcription errors.
- Eliminate financial transfer mistakes resulting from incorrect account numbers.
- Facilitate the execution of financial transfers for bank clients through all available channels, including ATM, phone banking, mobile banking, branches, and online banking.
- IBAN improves operational efficiency in handling financial transfers.
Important Information about the IBAN
- IBAN is not a new account number
- Your existing account numbers will not change
- The IBAN includes letters and digits in addition to the number of your account to make it distinguishable on an international level
Receiving Transfers
If you receive transfers to your account, inside or outside of Jordan, you must always supply the person or entity making the transfer with your IBAN number.
Sending Transfers
To transfer money from your account, you must ask the beneficiary to provide you with the IBAN number.
Frequently Asked Questions:
- Will I need the beneficiary’s IBAN number when requesting the issuance of financial transfers from my account to the beneficiary's account in another bank in Jordan?
Yes, otherwise the request will be denied.
Will I need the beneficiary’s IBAN number when requesting the issuance of a financial transfer from my account to a beneficiary's account in the same bank in Jordan?
Yes.
Will I need the beneficiary’s IBAN number when requesting to issue a financial transfer from my account to a beneficiary's account in a bank outside Jordan?
Yes, if the beneficiary's bank is in a country that applies and uses IBAN; otherwise, the request will be denied.
Will I need to supply the transferring party with my IBAN to execute a transfer into my account for any operating bank in Jordan?
Yes.
Other than the IBAN Generator, how can I get my IBAN?
- It’s available on AJIB Mobile and AJIB Online Banking
- Contact AJIB’s call center available 24/7 on +962 6 5003005
- Visit any of AJIB branches
Is the IBAN required when paying using a credit card?
No.
Will my bank provide me with the IBAN number for every one of my accounts?
Yes, you can ask for the IBAN number for all your accounts that have access to carry out either inward, outward transfers or both.
Will the current account numbers become null and void when the IBAN is applied?
No.
