Term
What is IBAN check? Meaning and explanation
An IBAN check is verifying whether the bank account number on an invoice is a valid IBAN and matches the supplier, to prevent errors and payment fraud.
Definition
An IBAN check is verifying whether the bank account number on an invoice is a valid IBAN and matches the supplier, to prevent errors and payment fraud.
Also known as: IBAN-controle, IBAN check, Rekeningnummercontrole
The IBAN (International Bank Account Number) is the international format for bank account numbers, with a country code, check digits and account number. An IBAN check first verifies whether the number is technically valid. It is also useful to check whether the IBAN on the invoice matches the number already known for that supplier.
For a firm and its clients, this is mainly protection against invoice fraud. With fake or manipulated invoices, the correct company logo appears on the invoice, but with a different account number. If the invoice is booked and paid without a check, the money often cannot be recovered. Ordinary typing errors in account numbers also lead to failed or misdirected payments.
Autoboeker performs an IBAN check as a standard step in AI processing, for all four connected packages, alongside the VIES check of VAT numbers and flagging duplicate invoices. In bank matching for Exact Online, Twinfield and SnelStart, the counterparty's IBAN is also one of the attributes used to link a transaction to an invoice.
Example
An invoice from a known supplier suddenly shows a different account number. The deviation is flagged, so the client first checks with the supplier whether the change is genuine.
FAQ
Questions about IBAN check.
Watch for changed account numbers, unknown suppliers, unusual amounts and an invalid VAT number. Always verify a changed IBAN through a known contact at the supplier.
Yes. IBANs are checked during AI processing, for all connected packages.
Further reading
Related in the knowledge base.
Guides
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