You can use IBAN on the Internet Branch to make EFT and SWIFT transfers.

What is IBAN ?
The International Bank Account Number (IBAN) standard has been developed to decrease the costs and increase the speed and quality of money transfers between countries as part of harmonization within the European Union.

Today IBAN is used in 33 countries. IBAN aims to prevent errors and the ensuing delays in money transfers between European banks and other financial institutions. IBAN ensures that funds are transferred from the sender's account to the recipient's quickly and correctly, thus eliminating the delays and extra costs associated with transaction errors.

What advantages does IBAN provide to account holders?
Today the form and length of account numbers varies from country to country and from bank to bank. Because account numbers are not standardized, customers who transfer funds from one country to another or from one bank to another cannot be certain that the account number they have in hand is correct.

When a purchase of goods or services is involved, account numbers of various types appear on the invoices sent by different firms, often causing the importing company or persons to make errors in transferring funds.

As a result, funds transfers to incorrect account numbers cannot be completed; funds reach the receiving bank but cannot be deposited into the correct account. Many operations are required to correct this, increasing the duration of the transaction and increasing costs.

In countries that have adopted the IBAN system, an IBAN is assigned to every bank account. IBAN have the same format and standards in every country, containing a two digit control number that is obtained through a special password algorithm.

A customer who wants to transfer funds to another country or another bank provides the IBAN of the recipient's account to the sending bank. The sending bank controls the accuracy of the IBAN before transferring the funds. If the IBAN is wrong, the funds are not sent and an incorrect transaction is prevented.

How will Garanti Internet Branch apply the IBAN system?
IBAN numbers will be used in the Internet Branch for EFT and SWIFT transactions.

EFT transactions can be made simply by entering the IBAN number of the recipient's bank account instead of entering the recipient's bank, branch and account number as currently required.

SWIFT transactions can be made simply by entering the IBAN number of the recipient's bank account instead of entering the recipient's country and bank details as currently required.

How can you learn your account's IBAN number?
IBAN numbers can be obtained on the Garanti Internet Branch by going to the "Accounts" menu, clicking "My Accounts" and then going to the "My Account Details" section. You may also obtain your IBAN number by calling Alo Garanti at 444 0 333 or applying to your branch.