IBAN Information for: Bulgaria
Find out all you need to know about the IBAN format in BG, including length, structure, and validation rules.
IBAN Information - Bulgaria
Overview
The International Bank Account Number (IBAN) for Bulgaria (BG) follows specific formatting rules. Here you'll find all the important details about the BG IBAN format.
Key Details
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IBAN Length 22 characters
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Country Prefix BG
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SEPA Member Yes
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Currency BGN
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Membership EU Member
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Central Bank Bulgarian National Bank
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Central Bank Website www.bnb.bg
Format Information
Domestic Format Information
IBAN Block Structure
BG 80 BNBG 9661 10 20345678
IBAN Structure Legend
- BG Country Code
- 80 Check Digits
- BNBG Bank Code
- 9661 Branch Code
- 10 Account Type
- 20345678 Account Number
Structure for Bulgarian IBAN
Bulgarian IBANs consist of the country code (BG), check digits (2 digits), bank code (4 characters), branch code (4 digits), account type (2 digits), and the actual account number (8 digits).
The Bulgarian IBAN consists of 22 characters. The bank code (4 characters) identifies the financial institution (e.g., BNBG stands for Bulgarian National Bank). The branch code (4 digits) identifies the specific branch of the bank. The account type (2 digits) defines the type of account. The actual account number (8 digits) identifies the individual account within the bank. Bulgaria introduced the IBAN system during its preparations for EU accession to facilitate integration into the European payment 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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