Important Information for Clients
IBANs
The IBAN, or International Bank Account Number, is a series of alphanumeric characters used to uniquely identify any account held at any bank anywhere in the world.
Although IBANs have been a mandatory requirement since 2007 for all Eurozone currency payments, an increasing number of countries from outside the European Union (EU) and the European Economic Area (EEA) now also require clients to include the payee’s IBAN(s) when providing their bank with payment instructions.
IBANs are currently required when making payments to the following countries:
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Please ensure that you include the IBAN when making payments to these countries. The payee will typically provide you with their IBAN where necessary.
Additional Payee Information
In order to comply with anti-money laundering (AML) financing regulations, the countries listed below now require additional payee information to be included on all payment instructions:
- Australia
- Canada
- South Africa
When making payments to these countries, the following information must be included:
- Full name of payee – no initials
- Full residential or business address of payee – PO Box numbers not permitted
- Full account number of payee
Please be aware that failure to provide this required information will result in delays and possible charges.
Other Special Instructions
- Qatar - SWIFT format requirement
As per AML law no.(4) of 2010 in Qatar, payments to/from Qatar for QAR4,000 and above (or currency equivalent) must include the following information: full name, account number/reference number, address of the customer, identification number (QID, NID, passport), contact number, date and place of birth of the ordering client as well as purpose of the transfer.
Please ensure this information is included. Payments not including this information will be returned.
If you have any further questions in relation to making electronic payments, please contact your Relationship Manager.
