Guaranty Trust Bank Plc. which was founded in the year 1990, and was licensed as a Universal banking company in the year 2002, and now with full growth in strength and development, they have gone viral in terms of services and now an internationally known bank which brings us to our today’s article which is GTBank Iban number.

Many customers or users of Guaranty Trust Bank may have been wondering what is Iban number, how does it work and how is it been used for operation, now today we bring to you the meaning of the Iban number and how it is used, which is stated below, sit back, relax and enjoy reading.

All You Need To Know About GTBank IBAN Number

Iban Number (International Bank Account Number)

Iban number as an abbreviation simply means international bank account number, which is used as a means of identification for banks all over the country to enable communication process of cross-border transactions with a lower risk of a transcription error, more also, it is used at the process of transferring funds from one country to another or international fund transfer.

The use of Iban number was first adopted by the Middle East, European and Caribbean countries mainly by the EUROPEAN COMMUNITY FOR BANKING STANDARDS (ECBS) and was later inaugurated as an international standard under the ISO 13616:1997. And was later changed to ISO 13616:2007 which serves as the current standard version, this indicates SWIFT being the formal registrar for International funds transfer. Iban number was initially developed for transferring funds in the European Union alone, pertaining to development, over sixty-nine (69) countries started using Iban number as of February I the year 2016.

The Iban number consists of thirty-four (34) alphanumeric characters, meaning it comprises of both numbers and alphabets, in this Iban characters, they include a country code, the domestic bank account number, two check digits (this check digit enables to check or confirm the bank account number as real and existing account number before carrying out the transaction), potential routine information and a branch identifier.

NOTE: IBAN’s are not replaced with sort codes or account numbers. they are only used to identify different bank accounts for outgoing and incoming transactions (Funds transfer) whereas, people make use of SWIFT code or BIC codes mainly for identifying the specified bank in an international transfer of funds or transactions.

GTBank Iban Number

The GTbank Iban number stands as a means of identification for individual accounts in the process of a transaction into GTBank either incoming or outgoing.

NOTE: At the process of transaction not only the IBAN number is used there is also a number being used as a means of identification for GTBank, which means this code is the bank’s identification code in which without it the bank (Guaranty Trust Bank) would not be recognized, this code is called the SWIFT or BIC code.

To use the GTBank Iban number, it would and should be used in the below form.

FOR CREDIT OF GUARANTY TRUST BANK PLC, LAGOS NIGERIA. SWIFT CODE: GTBINGLA. ACCOUNT NUMBER: 10820571. IBAN NUMBER: GB05 CITI 1850 0810 8205 71

Swift Code

SWIFT code which is also called or known as BIC code as a unique bank identification number is an eight (8) character – Eleven (11) characters code used internationally for the transfer of funds into a certain bank and a specified branch and it is also used in the verification process of financial or funds transaction such as international wire transfer.

The Swift code for banks provides each of its users an easy and accessible way to avoid transfer errors and fund transfer mistakes and errors.

GTbank Swift Code

Guaranty trust bank Plc is one of the top-rated banks in Africa and widely all over the world and a service-focused company dedicated to serving their customers and bank users won’t take the last position in getting a Swift code to enable easy access to funding transfer from one country to the other for their customers or users. The GTBank Swift code is stated below:

GTBank Swift code: GTBINGLA.

NOTE: To locate your branch Swift code you have to make enquiries from your bank. Here is what I mean: GTBank Swift code or BIC code for Lagos Nigeria branch is – GTBINGLA-IFP, which mean the first eight (8) characters are for the identification of GTBank as a whole, and the last three stands as an identification code for the branches in which you want your funds or money to be transferred to for collecting.

Meaning or breakdown of GTBINGLA Swift code for Guaranty Trust Bank Plc

Many users of the Guaranty Trust Bank Swift code may likely not know the full meaning and details of the Swift code so in this case, we would explain to you in detail what the Swift code character means.

  • The GTBI – is the bank code assigned as the swift code for GTBank.
  • The NG – means the country shortcode which stands for Nigeria (NG)
  • The LA – stands as the location code

Then the last three characters after the 8 characters for the Banks identification is the Branch code. For example, the Swift code for Lagos Nigeria GTBank Branch being GTBINGLA-IFP

The IFP – stands as the branch code.

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Conclusion On GTBank Iban Number

Guaranty Trust Bank Iban number has made it easy for Guaranty Trust Bank plc users or customers to transfer funds on an international basis, However, GTBank makes use of Swift code or BIC code for identification of GTbank anywhere in the world being a GTbank to GTbank Transfers, while the IBAN number stands as a means of bank account identification as explained earlier.

For transfer of funds to Nigeria GTBank Branch you should find out about the branch code adding it to the above-stated code as explained, what I mean is the as IFP being the branch code for Lagos Nigeria Guaranty Trust Bank Branch Plc, whenever you want your funds to be transferred to any other Guaranty Trust Bank Branch Apart from the Lagos Nigeria Branch, you should ask your Bank Branch for their code to enable your funds to be transferred to your specified Bank Branch being a GTBank Branch.