IBAN for international money transfer

bob saunders

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Has the DR become part of IBAN for money transfers from Canada and USA. When I tried to do an online transfer this morning from Canada the system now says I need a 28 alpha-numeric code (IBAN)
 

granca

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Aug 20, 2007
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As at December Dominican Banks do not use IBAN for money transfers, they continue to use the SWIFT identification. My bank and the international money transfer agent HiFx have no problem with this. The IBANpage on the internet clearly states the the RD is not using this system. Tell your US bank to go back to school.
 

La Profe_1

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Oct 15, 2003
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Sorry to contradict granca, but in January we received a wire transfer here in Puerto Plata that originated in Canada. The transfer required the IBAN number of the US dollar bank account.

You can get the IBAN number from your bank. It is different for each account since the account number is part of the IBAN number.
 

bob saunders

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That makes more sense since I did one with an IBAN in February; using the SWIFT But after phone fhe Royal Bank in Canada they explained that Dominican bank now require a 28 code plus numbers.
 

josh2203

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Dec 5, 2013
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I hope I have not misunderstood something, but I believe I have had an IBAN number for an account in Banreservas since 2013, and this map would also confirm that the IBAN structure of DR banks is registered with SWIFT: International Bank Account Number - Wikipedia, the free encyclopedia Not sure if that got confused in this thread, but I think it?s important to notice that the IBAN points to the international code for your personal account, whereas the BIC/SWIFT code to the entire bank/branch.
 

whirleybird

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Feb 27, 2006
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I transfer from my UK bank with a SWIFT number and an account number at Banco Popular - no requirement for an IBAN and I did it just the other day and all was well.
 

MpJuly

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Apr 30, 2009
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No IBAN but on my BHD account I have an "Account Number in Standard Regional Format:"

Cuenta BHD: XXXXXXXXXXX
N?mero de Cuenta en Formato Est?ndar Regional: DO86BCBH000000000XXXXXXXXXXX
 

dropshort

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May 18, 2008
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Do not let any banker convince you otherwise A SWIFT code is 11 Characters

AAAA CC DD XXX

AAAA Bank Code IE NOCS (Bank of) Nova Scotia BPDO Banco Popular
CC Country CA Canada DO Dominican Republic
DD City TT Toronto SX Santo Domingo
XXX Branch XXX means Head Office IE International Department

NOSCCATTXXX? NOSCDOSXXXX? BPDODOSXXXX? TDOMCATTTOR?

If you specify AAAACCDD then Swift adds XXX

The problem comes in if you search the SWIFT Database using only 8 Characters you may get more than one result and you need to choose which one is correct.

If you mean NOSCCATTXXX then that is what you should say. When is close good enought for banking?

DS
 
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La Profe_1

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No IBAN but on my BHD account I have an "Account Number in Standard Regional Format:"

Cuenta BHD: XXXXXXXXXXX
N?mero de Cuenta en Formato Est?ndar Regional: DO86BCBH000000000XXXXXXXXXXX

That is the IBAN number.
 

whirleybird

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Feb 27, 2006
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My account number at Banco Popular replaces the requirement for an IBAN number - the BIC Identifier number (SWIFT BIC) is their 7 letter code plus XXXX.

If anyone wants my full bank account details to pay me vast sums of money then please request via PM :)
 

Mauricio

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Nov 18, 2002
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Do not let any banker convince you otherwise A SWIFT code is 11 Characters

AAAA CC DD XXX

AAAA Bank Code IE NOCS (Bank of) Nova Scotia BPDO Banco Popular
CC Country CA Canada DO Dominican Republic
DD City TT Toronto SX Santo Domingo
XXX Branch XXX means Head Office IE International Department

NOSCCATTXXX? NOSCDOSXXXX? BPDODOSXXXX? TDOMCATTTOR?

If you specify AAAACCDD then Swift adds XXX

The problem comes in if you search the SWIFT Database using only 8 Characters you may get more than one result and you need to choose which one is correct.

If you mean NOSCCATTXXX then that is what you should say. When is close good enought for banking?

DS
Swift is something else than iban. Swift used to be what now is Bic (bank identifier code) in Europe (ABA in USA). Iban is the now obligated standard used in many countries for individual account numbers.
 

whirleybird

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Feb 27, 2006
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Swift is something else than iban. Swift used to be what now is Bic (bank identifier code) in Europe (ABA in USA). Iban is the now obligated standard used in many countries for individual account numbers.

I think that is roughly what I said in post #10!!
 

bob saunders

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The bank , in person and online gave me a line about doing a transfer using the bank of America....etc. I found a way to generate an IBAN using a website , then reverse checked and it was confirmed as good, I plugged it into my RBC ( Royal Bank of Canada) online international money transfer form and it confirmed that it was the correct IBAN for BANCO MULTIPLE BHD LEON S.A. I guess I'll find out if and when my money arrives. I'll then be able to teach the bank staff how it works.
 

LTSteve

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Jul 9, 2010
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Has the DR become part of IBAN for money transfers from Canada and USA. When I tried to do an online transfer this morning from Canada the system now says I need a 28 alpha-numeric code (IBAN)

My bank in the States has always used the SWIFT number along with the bank rounting number and your personal acount number. I was unaware you could transfer money internationally without the assistance of your bank?
 

Cdn_Gringo

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I was unaware that you can initiate an Int'l transfer of $$$ from a Canadian bank without standing at the counter in Canada to do so. Money laundering laws...
 

bob saunders

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I was unaware that you can initiate an Int'l transfer of $$$ from a Canadian bank without standing at the counter in Canada to do so. Money laundering laws...

You can transfer 2500 dollars Canadian per day online bank to bank. Any larger amount you need to do from the originating bank. I've been transferring online for five years.
 

bob saunders

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My bank in the States has always used the SWIFT number along with the bank rounting number and your personal acount number. I was unaware you could transfer money internationally without the assistance of your bank?

It is through the bank, your account, their software.