Definition of definition for English Language Learners. : an explanation of the meaning of a word, phrase, etc. : a statement that defines a word, phrase, etc. : a statement that describes what something is.
An IBAN (International Bank Account Number) is an international bank account identifier used to uniquely identify the account of a customer at a financial institution. This is the only permissible account identifier for SEPA payments.
The International Bank Account Number is a unique identifier helping banks process payments from person to person automatically. The IBAN contains all necessary information for the owner if a bank account such as the account number, bank and branch information and country code.he BBAN is the last part of the IBAN when used for international funds transfers. Every country has itâs specific BBAN format and length depending on itâs own standards. Currently there is no common EU or other standard unifying the BBAN.