IBAN Information for: El Salvador
Find out all you need to know about the IBAN format in SV, including length, structure, and validation rules.
IBAN Information - El Salvador
Overview
The International Bank Account Number (IBAN) for El Salvador (SV) follows specific formatting rules. Here you'll find all the important details about the SV IBAN format.
Key Details
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IBAN Length 28 characters
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Country Prefix SV
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SEPA Member No
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Currency USD
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Membership Non-Member
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Central Bank Central Reserve Bank of El Salvador
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Central Bank Website www.bcr.gob.sv
Format Information
Domestic Format Information
IBAN Block Structure
SV 62 CENR 00000000000000700025
IBAN Structure Legend
- SV Country Code
- 62 Check Digits
- CENR Bank Code
- 00000000000000700025 Account Number
Structure for El Salvador IBAN
El Salvador IBANs consist of the country code (SV, 2 characters), check digits (2 digits), bank code (4 characters), and account number (20 digits). In total, the El Salvador IBAN comprises 28 characters.
The El Salvador IBAN follows the international standard with 28 characters in total. El Salvador uses the US Dollar (USD) as its official currency, having abolished the Colón (SVC) as the national currency in 2001. The central bank is the Banco Central de Reserva de El Salvador. Although El Salvador is not part of SEPA, the IBAN facilitates international transfers to and from the country. The banking system includes both local and international banks. The bank code identifies the bank, while the account number contains the specific customer details and additional information for account categorization.
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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