IBAN imposes a flexible but regular format sufficient for account identification and contains validation information to avoid errors of transcription. It carries all the routing information needed to get a payment from one bank to another wherever it may be; it contains key bank account details such as country code, branch codes (known as sort codes in the UK and Ireland) and account numbers, and it contains "check digits" which can be validated at source according to a single standard procedure. Where used, IBANs have reduced trans-national money transfer errors to under 0.1% of total payments.