text: International Bank Account Number. The IBAN (International Bank Account Number) standard was created to help banks automate transfers within the European Union (EU), in such a manner that intra-Community payments are assimilated to national payments and the same charges can be applied. Until approval of the EU regulation on cross-border payments in euros, account numbering systems were strictly national and the country of origin of an account could not be identified. The IBAN adds four characters in front of each number: two letters that identify the country and two control digits to avoid transcription errors. In order for an intra-Community transfer to be subjected to the same charge as a national transfer of identical amount, the originator must provide the bank with the beneficiary's IBAN and BIC (Bank Identifier Code).
  Credit extended and reimbursed within a single day. The national central banks can extend these credits to speed up the use of TARGET, balancing mismatches in the settlement of payments. They may be in the form of a guaranteed overdraft, a credit operation pledged by available collateral or a repurchase agreement.
  A credit institution which provides, generally to a current account holder thereof, a payment card, whether credit, debit or cash. Operations performed using said payment instrument will normally be settled in the account designated by the card holder for such purpose from among those held with the issuing entity.