Due to the Communiqué of the Central Bank of the Republic of Turkey, as of January 1 2010 International Bank Account Number (IBAN) has become mandatory for money transfers.

What is IBAN ?

IBAN stands for International Bank Account Number. An IBAN is not a new account number, but simply a new format for an existing bank account number that will be recognized internationally. It has been created to improve the efficiency of cross-border payments with regard to speed, quality and cost.

Use of IBAN Has Become Mandatory

Due to the regulation issued by Central Bank of the Republic of Turkey on International Bank Account Number (IBAN) which is published in the official Journal on 10.10.2008 and numbered 27020; effective from 01.01.2010, both in domestic transfers and cross-border transfers towards European Economic Area EEA, Banks shall validate the beneficiary’s IBAN for Incoming money transfers and use the sender’s IBAN for outgoing money transfers.

As Our Customers, What Shall You Do ?

As a beneficiary for incoming money transfers, you can find out your IBAN via TEB Internet Branch, 444 0 666 TEB Telephone Branch or any TEB Branch.

As a sender for money transfer, you should validate and use the beneficiary’s IBAN instead of bank account number; and declare the beneficiary’s IBAN on your transfer order. You will be able to complete your transactions by giving a written declaration to the Bank indicating that the beneficiary's IBAN will not be notified though it is demanded.

How Will Be IBAN Used?

• IBAN is available for all of your accounts subject to money transfers. You can find out your IBAN via TEB Internet Branch - Accounts menu, 444 0 666 TEB Telephone Branch or any TEB Branch.
• In case you are the beneficiary of the money transfer; you should communicate the IBAN to the ordering customer (sender).
• In case you are the sender, you should submit a money transfer order which includes the beneficiary's IBAN.
• Your (the sender's) bank validates the IBAN you (the sender) declared and sends the money to the beneficiary's bank.

The Structure of the IBAN in Turkey

The IBAN to be assigned by the banks to the customers is made up of 26 alphanumeric characters that refer to a single account. Country Code is composed of 2-upper case letters. Country code is “TR” for Turkey. Check Digits are composed of 2-digit numbers.Bank Code is a 5-digit number. The bank codes which do not have 5 digits are right aligned and zeros are written down before the code to complete it to 5 digits. Reserved Field is composed of a single digit number. 0 (zero) is used until it is changed. Bank Account Number is a 16-digit number which is composed of upper case letters and/or numbers.