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How To Validate IBAN And SWIFT Numbers Using An API

IBAN and SWIFT Validation

To ensure that your company can receive cross-border payments, you need correct banking information for your customers and vendors. This includes ensuring their International Bank Account Number (IBAN) and SWIFT code are appropriate. It sounds easy enough, but how can you be sure that these numbers are right? The answer is by using an IBAN and SWIFT validation API.

What Is An IBAN Number?

An IBAN is an international bank account number. Its purpose is to identify a particular bank account. Banks and financial institutions worldwide use IBAN numbers to process international money transfers. An IBAN consists of a series of alphanumeric characters, usually on the bottom of a bank statement or on the back of a check. 

To receive an international money transfer, you must provide your IBAN. When sending money, you must provide the recipient’s IBAN to transfer funds into their account. 

What Is SWIFT Number?

While many European countries use the IBAN number,  many others use a SWIFT number as a unique identification code. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. A SWIFT number is sometimes called a BIC or Bank Identifier Code. 

A SWIFT code is made up of either  8 or 11 characters, generally letters. The first four characters of the code identify the bank, and the following characters specify the country where the bank is located. The remaining characters identify specific branches or divisions of the bank. If you need to make an international money transfer, you need to know the recipient bank’s SWIFT code.

Making mistakes while sending a wire transfer can be both time-consuming and costly. That is why it is important to make sure your information is correct using a validation API. You can avoid potential errors if you input the wrong information.

So, let’s learn how to automate IBAN and SWIFT number validation by integrating an API into any of your applications. 

How To Validate IBAN And SWIFT Numbers Using An API

IBAN and SWIFT
Bank Data API Playground by APILayer

There are a few different ways you can validate IBAN and SWIFT numbers using an API. One way is to use a RESTful API like the one offered by APILayer. It is the Bank Data API. This APIs allows you to input the IBAN and SWIFT numbers you want to validate and the information it returns indicates whether or not the number is good. It also provides additional information about the number, like the bank name and country code. 

If you need to validate many IBAN and SWIFT numbers, then using an API is the most efficient way. To get started, head to the registration web page and get your free API access key.

The Bank Data API by APILayer provides a fast and accurate IBAN and SWIFT number validation service you can connect to from any technology stack.

Using this API, you can get IBAN examples and structure by country, required fields for generating IBANs, banks by the government, and all central banks and SWIFT codes.

How To Integrate Bank Data API Using JavaScript?

Here is a sample API endpoint call that demonstrated how to work with the Bank Data API: 

Example response:

Furthermore, check out other tutorials on our blog where you can learn how to automate almost anything using powerful APIs powered by APILayer:

What Are The Benefits Of Validating IBAN And SWIFT Numbers?

There are several benefits to validating IBAN and SWIFT numbers using an API:

  1. Ensures the accuracy of the data in your system.
  2. Prevents fraud and errors when making international payments.
  3. Saves you time and money by avoiding costly bank charges.

Why Should You Choose This Validation API?

While we have just scratched the surface of what you can do with an IBAN and SWIFT number validation API, hopefully, this article has given you a good idea of how to get started.

If you are looking for a reliable and easy-to-use API to validate IBAN and SWIFT numbers, check out the one offered by APILayer named Bank Data API.

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