How to Use the US International Bank Account Number? A Detailed Explanation of the Differences between IBAN and SWIFT

This article will provide a detailed analysis of the definition, scope of application, and differences from systems in other countries of the US international bank account number, helping you successfully complete cross-border fund operations. BiyaPay also provides remittance support for multiple countries, and we will introduce it in detail later.

What is the US International Bank Account Number?

In international remittances, the “International Bank Account Number” usually refers to the IBAN (International Bank Account Number), which is an internationally standardized bank account identification code. However, the IBAN is not widely used in the United States. Instead, the United States relies on the combination of SWIFT codes and account numbers.

In the United States, the bank account structure usually consists of two parts: The first part is the “routing number,” also known as the Routing Number, which is composed of 9 digits and is used to identify a specific bank or financial institution; the second part is the account number, which is used to identify the user’s specific bank account.

For international remittances, US banks mainly participate in international financial transactions through SWIFT codes (8 to 11 digits) and do not require an IBAN. Therefore, the “international bank account number” in the United States is usually a combination of the SWIFT code + routing number + account number, rather than an IBAN number.

What are the Functional Differences between IBAN and SWIFT?

Although both IBAN and SWIFT are related to international transfers, their functions are different. The IBAN is a standard format code for identifying the “account itself” and is widely used in European countries. It can be up to 34 characters long and can accurately locate the account into which the funds finally go, greatly reducing the transfer error rate.

SWIFT is a global bank identification system used to identify “which bank it is.” It is composed of 8 to 11 letters and digits and does not involve specific accounts. Globally, the vast majority of countries, including the United States, use SWIFT as the main means of cross-border bank communication.

Simply put, the IBAN enables the payee to receive the funds accurately, and SWIFT ensures that the banks can identify each other correctly. European countries often require the provision of both, while the United States mainly relies on the combination of SWIFT and the account number.

Do Local US Banks Provide IBANs?

Although the United States is not a member of the IBAN system, some banks or fintech platforms with a high degree of internationalization will provide users with “IBAN-like numbers” to be compatible with the European system. These IBANs usually do not have legal effect and are only used for transitional identification.

For example, after some users register multi-currency accounts through TransferWise (Wise) or Payoneer, they will obtain an IBAN number in the Eurozone, which can be used to receive euro payments. However, such accounts are not essentially local US accounts and cannot be used for ACH transfers or check payments.

In addition, some overseas territories of the United States, such as Puerto Rico and the US Virgin Islands, may support the IBAN format in special scenarios, but most bank accounts within the United States still only use traditional information such as SWIFT and Routing Number.

How to Use Account Information in International Remittances?

When making international remittances, sending funds from the United States usually requires the following information: the payee’s full name and address, bank account number, bank name, SWIFT code, and routing number. In some cases, the bank address or the payee’s postal code also needs to be provided.

These pieces of information constitute the “identification identity” of a US account in international remittances. As long as users fill in the information accurately, they can successfully complete the cross-border transfer of funds. Mainstream banks in the market, such as J.P. Morgan, Bank of America, and Wells Fargo, all conduct international transfer operations based on this structure.

It is worth mentioning that the bank wire transfer fees in the United States generally range from $20 to $45, and the arrival time varies from 1 to 5 working days, depending on the internal processing and transit procedures of the bank.

Is It Safe to Share US Account Information?

The risk of sharing US bank account information is relatively low. The account number, routing number, and SWIFT code are basic information of the bank system and cannot be used alone to initiate fund operations. A transaction will only truly occur when you authorize a certain system to automatically deduct or transfer funds.

However, to ensure security, users should still pay attention to the following points:

- Enter account information only on formal and encrypted websites;

- Do not send account data through social media, text messages, or untrusted emails;

- If you suspect that the account information has been leaked, contact the bank in a timely manner to freeze the account and apply for a new number.

Banks usually also provide anti-fraud mechanisms, such as transfer limits and transaction verification, to further enhance the security of funds.

Can IBAN Be Used for Online Consumption in the United States?

IBAN is not common in online payment scenarios in the United States. Most US e-commerce and service platforms, such as Amazon, Netflix, Spotify, etc., require users to provide a credit card, debit card, or bind a bank account for ACH deductions, rather than IBAN payments.

Even if you have an IBAN account in the Eurozone, it is difficult to use it for online transactions in the United States. This is because the US financial payment architecture does not support deductions initiated by IBAN, and the system will not recognize this format.

Therefore, if you live or work in the United States, it is recommended to use a local account, Zelle, PayPal, or a credit card to complete daily payments. IBAN is more used for you to receive overseas payments or manage personal foreign exchange accounts.

Although US banks do not directly provide IBANs, IBAN can still play a role in the following situations:

First, when remitting money from European countries to the United States, some banks may require the IBAN to be filled in. Users only need to notify the other party to use the SWIFT code and account information;

Second, US users can apply for an account in the Eurozone and obtain an IBAN through fintech platforms (such as Wise Borderless) to receive payments in Europe;

Third, cross-border freelancers or outsourcing workers often use IBAN accounts as international settlement tools to receive overseas salaries or commissions.

Generally speaking, IBAN is not applicable within the United States, but understanding its usage rules can give you the initiative in cross-border remittances and multi-currency fund management.

Conclusion

The IBAN system is not widely used in the United States, and the identification of its international bank accounts still mainly relies on the combination of SWIFT codes, routing numbers, and account numbers. When it is necessary to handle international wire transfers or cross-border collections, filling in this information accurately can complete the transaction.

If you are looking for a flexible, fast, and unlimited international remittance method, you might as well try BiyaPay. This multi-asset wallet supports remittances to most countries and regions around the world. Using the “local remittance” route, the funds arrive quickly and stably, especially suitable for users who frequently make cross-border transfers.