What the country code in your IBAN means
8 Oct 2026
Every IBAN starts with two letters: the country where the account is held, for example LT for Lithuania, GB for the United Kingdom, BE for Belgium. The country of your IBAN is not always the country of your company or even of the provider’s licence.
Why it matters
- Counterparty acceptance. Within SEPA, payers should accept any SEPA IBAN, but in practice some payers, payroll systems or tax authorities still ask for a local IBAN.
- Payment rails. A GB IBAN does not automatically give access to SEPA; check whether the provider supports SEPA Credit Transfers and SEPA Instant for that account.
- Perception. Some partners look at the IBAN prefix during their own checks.
Own-name IBAN or shared account
Some providers give each client a dedicated IBAN in the company’s name. Others use a pooled account with a reference. A dedicated IBAN in your name is easier for counterparties and for audits.
How to filter
Use the “IBAN country” filter in the catalogue, and the “Payment rails” filter to check SEPA and SWIFT support.