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 BIC is used as the international standard for identification of financial institutions in a payment chain. It is part of the IBAN. A. International Bank Account Number (IBAN) is an International Organization for Standardization (ISO) criterion for bank accounts.The IBAN is composed of a two-character ISO country code, two-digit IBAN check digit, bank/branch identifier and account number.he BIC is used as the international standard for identification of financial institutions in a payment chain. It is part of the IBAN. A. International Bank Account Number (IBAN) is an International Organization for Standardization (ISO) criterion for bank accounts.