IBAN (International Bank Account Number) is a standard code that helps identify individual bank accounts globally. It's used for both international and domestic transfers across Europe and many countries worldwide, ensuring faster, accurate, and seamless transfers.
IBAN can be up to 34 characters long. The first two are letters indicating your bank's home country, and the rest are numbers representing details about your bank account.
When sending or receiving money internationally, you'll need to provide some key details, one of which is your IBAN. The IN1 customers get a dedicated IBAN in EUR for free when they sign up for either the Basic or Premium plan. Please note that each customer can create only one IBAN account.
📣 Note: You can send SEPA transfers to third parties, but you can only receive SEPA payments from your personal bank accounts.
To find your IBAN in the IN1 app, just follow these steps:
On your Home tab, go to the "Add" section and select your Euro account.
On the Select deposit method for Euro screen, select "Bank transfer".
You'll then see all the necessary account details on the Account Details screen. You can copy each line separately by tapping the copy icon next to it. If needed, tap "Share" to choose a contact or a messaging app to send your account details.
When making a bank transfer, be sure to enter your IBAN and full name correctly so that your funds are credited to your account without any issues.
FAQ:
Can I use SEPA transfers?
Yes, if you have a euro account, you can send SEPA transfers to third parties and receive them from your personal bank accounts.
What information is needed to receive a bank transfer?
To receive a SEPA transfer, all you need is your name, country, and IBAN. To learn more about receiving bank transfers, click here.
Does IN1 provide IBANs for any currency accounts?
Currently, IN1 offers IBANs for euro accounts only. Each customer can have only one IBAN account. We're working on expanding IBANs to other currencies in the future, so stay tuned!
What kind of transfers can I use my IBAN for?
You can use your IBAN to receive money within Europe through SEPA transfers. The sending bank must support the SEPA system. SEPA transfers typically take up to 2 business days and may involve additional fees. For more information, check out this article.
I haven't received my SEPA payment, what should I do?
If the typical transfer time has passed and you still haven't received the payment, follow these steps:
Get a payment confirmation from your bank (most banks allow you to generate this document directly in their app).
Double-check that all the details in the confirmation match those in your IN1 app, ensuring that your name is spelled correctly and the IBAN is complete and accurate, including all letters and numbers.
If everything is correct, send us the payment confirmation, and we'll do our best to locate the transfer for you.
If we're unable to locate it on our end, please reach out to the sending bank and ask them to investigate the transfer.