Definition of definition for English Language Learners. : an explanation of the meaning of a word, phrase, etc. : a statement that defines a word, phrase, etc. : a statement that describes what something is.
An IBAN (International Bank Account Number) is an international bank account identifier used to uniquely identify the account of a customer at a financial institution. This is the only permissible account identifier for SEPA payments.
The IBAN consists of up to 34 alphanumeric characters, as follows: 1  country code using ISO 3166-1 alpha-2 - two letters, 2  check digits-two digits, and. 3  Basic Bank Account Number (BBAN) - up to 30 alphanumeric characters that are country-specific.he Basic Bank Account Number (BBAN) format is decided by the national central bank or designated payment authority of each country. There is no consistency between the formats adopted. The national authority may register its BBAN format with SWIFT, but is not obliged to do so. It may adopt IBAN without registration.