An IBAN, or International Bank Account Number, is a standardized format used to identify bank accounts across different countries. It helps facilitate international money transfers by providing a unique identifier for each account, ensuring that funds are sent to the correct destination. An IBAN typically consists of a country code, two check digits, and a series of alphanumeric characters that represent the bank and account number. The length of an IBAN can vary by country, but it usually ranges from 15 to 34 characters. Using an IBAN reduces errors in cross-border transactions and enhances the efficiency of international banking, making it easier for individuals and businesses to send and receive money globally.