IBAN (International Bank Account Number) is a format of account number introduced by the European Union in order to standardise bank account numbers internationally. In the future, a wide-spread adoption of IBAN would be possible not only in the European Union but also in countries outside the European Union.
In its simplest sense, IBAN is a special code unique to the customer account and it designates only that account. An IBAN is created for each of the bank account number separately. In this sense, it should not be confused with the Citizenship Number. In other words, IBAN numbers of the account holders in each bank are different. Each account has an IBAN unique to that account. IBAN numbers must be created according to ISO 13616 standards.
IBAN stands for International Bank Account Number. It has been implemented by the member states of European Economic Area (EEA) and started to be implemented in Turkey since 2008. Each account in our Bank has also a corresponding IBAN number. As of January 1st 2010, International Bank Account Number (IBAN) has become mandatory not only for our accounts but also for the money transfers to be made from our accounts to the accounts of other people. For example; you have an account with TEB Karaköy Branch and its number is 888888. The IBAN number of this account is TR610003200013900000888888 and you have to know IBAN number of the other account in cases when you make a transfer from this account to another TEB account or to an account with another bank. As of January 1st 2010, you have to present IBAN number of your landlord’s account with other bank when you make your rental payment from your account to your landlord’s account with other bank. IBAN is not an implementation specific to our Bank but a mandatory implementation for all the Banks in Turkey. Based on this example, you should present us IBAN number of the counterparty of your regular payment/quick EFT and collective payment instructions given from your accounts with our Bank to the accounts with other banks which is of significant importance for a smooth and quicker execution of your transfers. Such information is not necessary for the internal transfers (virement/remittance) to be made between the accounts within our Bank since both of these accounts are with our Bank and IBAN numbers of these accounts exist in our Bank’s systems.
IBAN also becomes Mandatory for Regular Payments and Forward-Dated EFT Instructions!
Effective from 1 July 2010, use of IBAN has become mandatory also for the regular payments and forward-dated EFT instructions. If you have not yet presented IBAN of the beneficiary of your regular payments and forward-dated EFT instructions; you can present and update it through TEB Internet Branch or 0850 200 0 666 TEB Telephone Banking Branch.
Please click here to update from TEB Internet Branch directly
Use of IBAN in Turkey
In 2005, after the publication of IBAN standards, a study group formed under the roof of Banks Association of Turkey by the leadership of Central Bank of Turkey has started its works regarding the implementation of these standards and Central Bank of Turkey has published a communiqué in this respect (Communiqué on International Bank Account Number No: 2008/6 - published in the Official Gazette No.27020 dated October 10, 2008). With this communiqué, a gradual transition period has been planned in terms of the useof IBAN.
According to this;
- Effective from 10.10.2008; Banks must generate IBAN for each bank account of their customer and communicate them to the account holders.
- Effective from 01.01.2009;
- Banks, in their current applications, must present IBAN on all the documents containing account numbers which are prepared for their customers,
- Customers, on the other hand, must present the recipient’s IBAN to their banks for the cross-border money transfers that are made to any account in the countries within the European Economic Area; and the banks must validate and use that IBAN.
- Effective from 01.01.2010; it is mandatory to use IBAN for the money transfers, except for the transfers which;
- the Banks make on their own names and accounts,
- are made to credit card number,
- the customer has a written declaration indicating that the benefiary’s IBAN is not notified.
Banks will validate IBAN for the incoming domestic and cross-border money transfers where the beneficiary's account number is specified as IBAN and will also use IBAN numbers of the sender and the receiver for the outgoing money transfers.
- Effective from 01.07.2010; For future-dated transfers where the customers send funds to any account in countries within the European Economic Area; the money transfer application made upon the customer’s declaration indicating that he/she does not know the recipient’s IBAN has been ended. Effective from this date, customers are obliged to present and use the recipient’s IBAN for future-dated fund transfers that they sent to any account in countries within the European Economic Area.