IBAN Information for: Timor-Leste
Find out all you need to know about the IBAN format in TL, including length, structure, and validation rules.
IBAN Information - Timor-Leste
Overview
The International Bank Account Number (IBAN) for Timor-Leste (TL) follows specific formatting rules. Here you'll find all the important details about the TL IBAN format.
Key Details
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IBAN Length 23 characters
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Country Prefix TL
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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 Bank of Timor-Leste (Banco Central de Timor-Leste)
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Central Bank Website www.bancocentral.tl
Format Information
Domestic Format Information
IBAN Block Structure
TL 38 008 00123456789101 57
IBAN Structure Legend
- TL Country Code
- 38 Check Digits
- 008 Bank Code
- 00123456789101 Account Number
- 57 National Code
Structure for Timor-Leste IBAN
Timor-Leste IBANs consist of the country code (TL, 2 characters), check digits (2 digits), bank code (3 characters), account number (14 digits), and national code (2 digits). In total, the Timor-Leste IBAN comprises 23 characters.
The Timor-Leste IBAN consists of 23 characters in total. Timor-Leste, or East Timor, uses the US Dollar (USD) as its official currency. The banking system in Timor-Leste is relatively young, as the country only gained independence in 2002. The central bank is the Banco Central de Timor-Leste. Although Timor-Leste is not part of SEPA, the IBAN facilitates international transfers to and from the country. The bank code identifies the bank, while the account number contains the customer account details. The national code at the end of the IBAN serves additional identification purposes within the Timorese banking system and is a feature introduced for regional standardization of banking in Southeast Asia.
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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