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The IBAN format account number is determined by the standard EBS204, which was issued by the ECBS (European Committee for Banking Standards) and is based on the international standard ISO 13616. An essential part of the IBAN is BBAN, thus basic account number that is used for payments in SR even nowadays. The standard sets the structure of the IBAN.

“Slovak IBAN” consists of 24 alphanumeric characters. The first two characters represent the country code (SK), the other two are the check digits, followed by a four-digit code of the bank (bank code is used for payments even at present, identifies a particular bank such as VÚB bank code is 0200 ). The IBAN is further made up of a prefix of account and basic account number (called the national part of the IBAN). In the case of the IBAN issued by the payment service provider in the Slovak Republic, such IBAN must have always 24 characters, that is, if currently used the prefix account has less than six figures, or currently used basic account number has fewer than ten digits, the missing digits are supplemented with zeros from the left so that the total number of characters of the IBAN forms 24 characters (e.g. SK3112000000001987426375). The length of the IBAN in the individual EU countries is different, depending on the length of the national part of the IBAN. In the case of France the IBAN has 27, in the case of Germany 22 characters, or for example in the case of Belgium it is 16 characters. In terms of the SR the IBAN is set by Decree No. 8/2009 of the NBS that establishes the structure of the bank account number, the structure of the international bank account number and details on the issuance of the identification codes converter.

The IBAN is assigned by payment service provider to its client and is also given in the statement of payment account. The calculation of the IBAN may payment service user verify on the webpage , however, this has only an informative character, whereas the payment account number in IBAN format and the manner of its use in the payment is required to notify to its client the payment service provider, who keeps the payment account.

The use of the Swift code BIC

In the case of cross-border transactions is used for identification of payment service provider’s BIC swift code. This code is currently being entered by users of payment services to payment orders. The code serves to correct routing of the specified payment. Payment service users will not need to enter the code BIC in the case of payments within SR after the implementation of the SEPA payment instruments into practice. In the case of cross-border payments this obligation will be removed within the meaning of regulation 260/2012 from 1.2.2016.