The BIC (or SWIFT) code is an internationally valid bank code.
What is an IBAN?
IBAN, which stands for “International Bank Account Number”, became the standard in Europe when the Single Euro Payments Area (SEPA) was formed in 2018. The goal was to increase the security and transparency of cross-border payments.
Structure of an IBAN:
The structure of the IBAN is defined by ISO certificate no. 13616. It consists of up to 34 alphanumeric characters (in Germany, it has 22): a two-letter country code (for Germany, this is “DE”) plus up to 30 country-specific alphanumeric characters. In Germany, these are two check digits, a (usually eight-digit) bank code, and the customer’s account number. The IBAN never contains any special characters, and all letters are upper-case.