Merchant Bank Account
Merchant Bank Account
An IBAN, or international bank account number, is a standard global numbering system developed to identify an overseas bank account. An IBAN (International Bank Account Number) is an internationally-agreed code of up to 34 letters and numbers that helps banks understand that international transfers are processed correctly. IBAN can’t replace the bank’s own account numbering format however, it provides additional information that helps in identifying overseas payments. IBAN operates in the SEPA arena to perform cross-border transactions.
Looking For Offshore Bank Accounts?
developing financial processes and procedures
IBAN vs. SWIFT Codes
In today world there are two type of internationally recognized, standardized methods of identifying bank accounts when a cross broder transaction is performed: the International Bank Account Number (IBAN) and the Society for Worldwide Interbank Financial Telecommunication (SWIFT) code. The major difrrence between these two are
A SWIFT code is used to identify a specific bank during an international transaction, whereas IBAN is used to identify an individual account involved in the international transaction. Both play a vital role in the effortless running of the international financial transactions.
The SWIFT system pre-dates tries to standardize international banking transactions through IBAN. It remains the tactic by that the bulk of international fund transfers are created. one among the most reasons for this is often that the SWIFT electronic messaging system permits banks to share a major quantity of monetary knowledge.
- Complete set of business documents
- Director ID and address Proof
- Utility bill of Director Office
- Website URL
- AML policy
- Customer onboarding policy
- Incumbency Certificate (Required if your company is registered outside UK, HongKong, Singapore)
We at Payments Clarity can help businesses/individuals to open an IBAN account dedicated to IBAN’s SWIFT and SEPA payment options with our leading partners across Europe and in the offshore jurisdiction. We can help merchants from high risks such as Forex, Crypto, and Gambling service providers to secure a Dedicated/pooled IBAN account.
Looking For Secure & Reliable Payment Processor?
We welcome and celebrate different perspectives to help our firm, our clients and our people.