IBAN Information for: Benin
Find out all you need to know about the IBAN format in BJ, including length, structure, and validation rules.
IBAN Information - Benin
Overview
The International Bank Account Number (IBAN) for Benin (BJ) follows specific formatting rules. Here you'll find all the important details about the BJ IBAN format.
Key Details
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IBAN Length 28 characters
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Country Prefix BJ
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SEPA Member No
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Currency XOF
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Membership Non-Member
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Central Bank Central Bank of West African States (BCEAO)
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Central Bank Website www.bceao.int
Format Information
Domestic Format Information
IBAN Block Structure
BJ 66 BJ061 01001 001443900007 69
IBAN Structure Legend
- BJ Country Code
- 66 Check Digits
- BJ061 Bank Code
- 01001 Branch Code
- 001443900007 Account Number
- 69 Control Character
Structure for Beninese IBAN
Beninese IBANs consist of the country code (BJ), check digits (2 digits), bank code (5 digits), branch code (5 digits), account number (12 digits), and the control characters at the end.
The Beninese IBAN consists of 28 characters. The bank code (5 digits) identifies the financial institution. The branch code (5 digits) identifies the specific branch of the bank. The account number (12 digits) identifies the individual account within the bank. At the end of the IBAN, there are two control characters used for validation. Benin has adopted the IBAN system as part of the West African Economic and Monetary Union (UEMOA) to facilitate international payments.
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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