According to the Central Bank of Egypt new regulations, the usage of International Banking Account Number (IBAN) service should be effective starting from 30th June 2020.
IBAN is not a new account number, but a developed format of the existing bank account numbers. It unifies the number of digits for all banking account numbers in Egypt to facilitate the processing of the banking transfers and enable them to pass through electronic systems.
IBAN is a standard account number used to expedite automatic processing of money transfers.
It is unique for each account and for each country and includes numbers and letters.
What Do I Get?
You will get an IBAN that is accurate, reliable, secure, unique, internationally accepted. The IBAN also reduces manual intervention when carrying out financial transfers.
What Makes It Special?
1. Helps in implementing Straight - Through Processing (STP), reducing manual intervention when carrying out financial transfers.
2. Contains all data required to facilitate the processing of domestic or cross- border transfers as it consists of the following:
• Country Code
• Check Code
• Bank Code
• Branch Code
• Customer Account Number
3. Reduces errors of financial transfers resulting from invalidity of account number.
4. Helps customers in carrying out financial transfers conducted through all available banking channels such as: NBK Online Banking, ATMs, NBK Call Center, NBK Mobile Banking and Branch Banking.
5. Reduces costs and improves operational efficiency in processing financial transfers.
How Do I Get It?
•IBAN generator; it indicates the IBAN Number that will match the number entered in the Account Number field.
•The validity of the account number is not checked.
How Do I Sign Up?
You can get your IBAN through the IBAN generator from NBK Tools on our website or by contacting our Call Center on 19336.