What is an IBAN? A Freelancer's Guide to International Bank Numbers
If you've received an email from a European client asking for your IBAN and you're based in India or the Philippines, you might be confused — your country doesn't use IBANs. Here's everything you need to know.
What is an IBAN?
IBAN stands for International Bank Account Number. It's a standardised format used across 79 countries to identify bank accounts for international transfers. An IBAN looks like: GB29 NWBK 6016 1331 9268 19 (UK) or DE89 3704 0044 0532 0130 00 (Germany).
- IBANs are primarily used in Europe (SEPA zone), Middle East, and some African countries.
- India, USA, Canada, Australia, Philippines, and most of Asia do NOT use IBANs — they use account number + routing number (US), BSB (Australia), IFSC (India), or SWIFT BIC.
- When a European client asks for your IBAN, they want to send you money via SEPA — which is free and instant within Europe.
How to get a free EUR IBAN
Even if you're based in India, Philippines, or Nigeria, you can get a free EUR IBAN from Wise or Airwallex:
- Wise Business: gives you a EUR IBAN (held with a European banking partner). Your EU client sends SEPA to this IBAN. Wise converts at 0.45% to your local currency.
- Airwallex: EUR IBAN available in 25+ countries.
- Revolut Business: EUR IBAN for EU/UK registered businesses.
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