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.
IBAN and BIC. An IBAN, or International Bank Account Number, is a standard, internationally recognised bank account format. used to process select cross border payments. Used with a Bank Identifier Code (BIC), international payments can. be processed automatically, making them faster and safer.