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 is NOT the same as the SWIFT code. The IBAN is a unique combination of the bank account numbers as well as the branch codes. The Swift code however is the same as t â¦ he European BIC which actually refers to a type of bank branch identification code.