KNOW YOUR IBAN
International Bank Account Number (IBAN) is an international standard for identifying bank accounts (excluding credit cards). The main purpose of IBAN is to facilitate the automatic processing of money transfers, cut down errors and delays in international payments and to improve the speed and accuracy of your payment transactions
Qatar Central Bank has directed banks to adopt of IBAN in Qatar in order to facilitate Straight Through Processing (STP) of Electronic Payments by minimizing delays and avoiding extra costs associated with incorrect account numbers. IBAN implementation will help in bringing more efficiency in remittance related transactions.
There are over 62 countries using IBAN, some of them have made use of IBAN mandatory for payments.
No,cheques continue to be cleared as before.
IBAN is not a new account number. We have created an IBAN for your existing account number using the international format. The IBAN numbers in Qatar are 29 digits long and look as follows:
- QA indicates Qatar (wherein all accounts in Qatar will start with QA)
- 89 are check digits
- BRWA is the bank code / bank identifier
- And the last 12 numbers (underlined)are your Barwa Bank account number
You can refer to your paper or electronic statement to locate your account number and IBAN.
Alternately you may use the IBAN Generator tool provided above to generate the IBAN number.
IBANs include all the necessary details for a receiving bank to post the payment directly to a beneficiary's bank account without any manual intervention. An IBAN contains information relating to the country, bank and branch of the beneficiary as well as the account number itself. Banks are increasingly relying only on the IBAN number to process transactions; it is therefore very important this is accurate.
You will need your IBAN for the following local & international electronic payments:
- Receiving an electronic payment from any bank within or outside Qatar
- Sending an electronic payment to any bank within Qatar
- Sending an electronic payment to any bank in a country that has mandated use of IBAN
All inter-bank transfers to accounts within Qatar require a beneficiary IBAN. This includes SWIFT payments and instructions, Barwa Bank Internet Banking payment instructions, salary transfers and QATCH payments.
Customers can have more than one IBAN. An IBAN uniquely identifies an account (not a customer) so if the customer has more than one account (say a QAR current account and a USD Super Saver) they will have more than one IBAN.