IBAN Information for: Togo
Find out all you need to know about the IBAN format in TG, including length, structure, and validation rules.
IBAN Information - Togo
Overview
The International Bank Account Number (IBAN) for Togo (TG) follows specific formatting rules. Here you'll find all the important details about the TG IBAN format.
Key Details
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IBAN Length 28 characters
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Country Prefix TG
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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
TG 53 TG009 01001 102325004005 12
IBAN Structure Legend
- TG Country Code
- 53 Check Digits
- TG009 Bank Code
- 01001 Branch Code
- 102325004005 Account Number
- 12 National Code
Structure for Togo IBAN
Togo IBANs consist of the country code (TG, 2 characters), check digits (2 digits), bank code (5 characters), branch code (5 digits), account number (12 digits), and national code (2 digits). In total, the Togo IBAN comprises 28 characters.
The Togo IBAN consists of 28 characters in total. Togo is a member of the West African Economic and Monetary Union (WAEMU) and uses the CFA Franc (XOF) as its currency, which is pegged to the Euro. The IBAN structure follows a similar format to other francophone African countries. Although Togo is not part of SEPA, the IBAN facilitates international transfers to and from the country. The central bank is the Banque Centrale des États de l'Afrique de l'Ouest (BCEAO). The bank code identifies the bank, while the branch code specifies the particular bank branch, and the account number contains the customer account details. The national code at the end of the IBAN serves additional identification purposes within the Togolese banking 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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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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