IBAN Information for: Malta
Find out all you need to know about the IBAN format in MT, including length, structure, and validation rules.
IBAN Information - Malta
Overview
The International Bank Account Number (IBAN) for Malta (MT) follows specific formatting rules. Here you'll find all the important details about the MT IBAN format.
Key Details
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IBAN Length 31 characters
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Country Prefix MT
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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 Central Bank of Malta
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Central Bank Website www.centralbankmalta.org
Format Information
Domestic Format Information
IBAN Block Structure
MT 31 MALT 01100 000000000000000123
IBAN Structure Legend
- MT Country Code
- 31 Check Digits
- MALT Bank Code
- 01100 Branch Code
- 000000000000000123 Account Number
Structure for Maltese IBAN
Maltese IBANs consist of the country code (MT), check digits (2 digits), bank code (4 digits), branch code (5 digits), and account number (18 digits).
The Maltese IBAN consists of 31 characters, making it one of the longest IBAN formats. The bank code (4 digits) identifies the bank, followed by the branch code (5 digits) which identifies the specific branch. The account number (18 digits) contains the details of the customer account. Malta is part of the SEPA (Single Euro Payments Area) zone, which means that transfers within the SEPA zone can be made under the same conditions as domestic transfers.
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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