What Is an IBAN and Why It Matters When Sending Money Abroad.
Have you ever tried sending money abroad and got stuck at 'Please enter recipient’s IBAN?' You’re not alone. It’s one of those terms that sounds more complicated than it actually is, but it plays a major role in international transfers.
If you send or receive money across countries, especially between Europe, the UK, and Nigeria, understanding what an IBAN is can save you time, money, and avoid failed transactions.
Read to the end of this post, so we can break what an IBAN is down in a way that makes it easier for you.
What exactly is an IBAN?
IBAN stands for International Bank Account Number. It’s a standardised way of identifying bank accounts across different countries, mainly in Europe and a few other regions. Think of it as your bank account’s international ID. It tells the sender’s bank exactly where the money should go.
Here’s what a typical IBAN includes:
- A two-letter country code (like GB for the UK).
- Two check digits (used to validate the IBAN).
- Different numbers that represent the specific bank and account.
For example, a UK IBAN could look like: GB29NWBK60161331926819
Where is IBAN used?
IBANs are used across Europe, the Middle East, parts of Africa, and a few other regions. More than 70 countries use IBANs today. If you’re sending money to the UK, France, Germany, Spain, or even the UAE, chances are you’ll need the recipient’s IBAN.
Some countries like the US, Canada, and Australia don’t use IBANs. Instead, they use account numbers, routing codes, or SWIFT codes.

What’s the Difference Between IBAN vs SWIFT Codes?
Here’s where people get confused. IBAN and SWIFT are not the same thing, but they often work together.
- IBAN identifies a specific account
- SWIFT (also known as BIC) identifies the bank itself
You can think of IBAN as the apartment number and SWIFT as the street address. When sending money to other countries, you’ll often need both.
Why Is IBAN important In Sending Money Abroad?
Mistakes that happen when sending money from one country to another can be expensive. Using the wrong or incomplete account information when sending money abroad can lead to delays, failed transfers, or even loss of funds. IBANs help prevent that.
With a valid IBAN:
- Your money goes to the right place.
- Transfers are processed faster.
- Banks can verify account details before sending.
Basically, an IBAN allows you to easily send money to another country without any hassles.
Do You Always Need an IBAN to Send or Receive Money?
Not always.
IBANs are mostly used in Europe, the UK, and a few other regions. If you’re sending money to a country that doesn’t use IBANs like Nigeria, Canada, or the US, you won’t need one. In these cases, banks or money transfer platforms rely on other details like account numbers and SWIFT codes.
How Can You Find Your IBAN?
If your bank account is in a country that uses IBANs (like the UK), you can find your IBAN in:
- Your banking app
- Your bank statement
- Or by requesting it directly from your bank
Make sure you copy it exactly as it appears. One wrong character and the transfer could bounce.
How AfriChange Makes International Money Transfers Easier
We get it. International money transfers can be confusing with terms like IBANs, SWIFT, fees, exchange rates. That’s why we built AfriChange to simplify the entire experience.
With AfriChange, you can:
- Send money from the UK to Nigeria and vice versa
- Avoid long forms and banking jargon
- Enjoy fast, secure transfers without unnecessary charges
And no, you don’t need to memorise any IBAN. Just enter the recipient’s details and we’ll handle the rest.

In Conclusion...
IBANs may look like random letters and numbers, but they’re key to making international transfers work. They help money move smoothly and land where it should.
But if you’d rather not worry about all that technical stuff, AfriChange has your back. We’re here to make sending and receiving money between countries as easy as sending a text.
Need to send money from the UK to Nigeria or vice versa? Download AfriChange and send in minutes. Start here to download.