When placing a Sell Order with us, you will need to either provide us with your IBAN (if you're based in Europe) or SWIFT code (if you're based in the United States). We require this to deposit the funds into your bank account.
When placing a Buy Order via bank transfer this works in the opposite way. We will provide you with either an IBAN or SWIFT code (dependent on your location) for you to deposit the funds into our bank account.
International Bank Account Number (IBAN)
Your IBAN, or international bank account number, is used to conduct international bank transfers. It is a unique alphanumeric identifier that consists of a country code, check digit, and domestic bank account and routing numbers.
What does an IBAN look like?
IBANs consist of up to 34 alphanumeric characters. The first two represent your country code, the next two are the check digits, and the remaining characters represent your personal bank account number.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT)
Simply put, SWIFT codes work in place of IBANs for those based in the US. They differ in the way that your SWIFT code helps to identify your specific bank during an international transaction, whereas an IBAN is used to identify an individual account in an individual transaction.
What does a SWIFT code look like?
A SWIFT code is made up of 8 to 11 alphanumeric characters. The first four represent the bank code, the next two are the country code, the following two are the location code, and the last three are the branch code.