IBAN Information for: Åland Islands
Find out all you need to know about the IBAN format in AX, including length, structure, and validation rules.
IBAN Information - Åland Islands
Overview
The International Bank Account Number (IBAN) for Åland Islands (AX) follows specific formatting rules. Here you'll find all the important details about the AX IBAN format.
Key Details
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IBAN Length 18 characters
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Country Prefix AX
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SEPA Member Yes
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Currency EUR
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Membership EU Member
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Central Bank Bank of Finland
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Central Bank Website www.suomenpankki.fi
Format Information
Domestic Format Information
IBAN Block Structure
AX 21 123456 0000078 5
IBAN Structure Legend
- AX Country Code
- 21 Check Digits
- 123456 Bank Code
- 0000078 Account Number
- 5 Control Character
Structure for Åland Islands IBAN
Åland Islands IBANs follow the Finnish IBAN format and consist of the country code (AX), check digits (2 digits), bank code (6 digits), account number (7 digits), and a control character at the end.
The Åland Islands IBAN consists of 18 characters. Although the Åland Islands have their own country code (AX), their IBAN structure follows the Finnish format as the islands belong to Finland. The bank code (6 digits) identifies the bank, while the account number (7 digits) identifies the individual account. The last character of the IBAN is a control character used for validation. The Finnish structure is used because the Åland Islands banking system is integrated into the Finnish system.
Bank Information
What is an IBAN?
An International Bank Account Number (IBAN) is a standardized international numbering system developed to identify bank accounts from around the world. It was originally adopted by the European Committee for Banking Standards and later as an international standard.
IBAN Uses
- International wire transfers
- SEPA payments within Europe
- Automated payment processing
Benefits of IBANs
- Reduced errors in international payments
- Faster processing of cross-border transactions
- Standardized format for global banking
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IBAN Verification
The check digits in an IBAN allow for verification of the entire number, reducing the risk of errors during transcription. This makes international payments more reliable.
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