Calculation of IBAN

IBAN, a uniform international bank account number was introduced in the
member states of the European Union in 2002

We recommend that you also use IBAN. The use of both IBAN and SWIFT (BIC) codes provides for a speedy execution of transfers within the EU at reasonable costs. If you expect an international FOREXFOREX or HUF transfer/credit, please remember to provide the sender with the IBAN of your own account and OTP Bank’s SWIFT identifier (BIC), which is OTPVHUHB.

 

We recommend that you remind your business partners in Europe to also provide their international bank account number and the SWIFT identifier (BIC) of their banks.

Using our module, you can also learn your own IBAN if you provide the number of your account kept with OTP Bank Nyrt., then click on the "Calculate" button. If you receive an error message, we advise that you check the account number provided.

Please remember to provide – for your future transactions – your IBAN rather than your 16- or 24-digit bank account number for your business partners in Europe.

Structure of IBAN

The first and second characters of IBAN are always "HU", Hungary’s country code as per the applicable standard. The third and fourth characters are two check digits, and the remaining digits – from 5 to 28 – contain the original bank account number.

The IBAN that conforms to the applicable Hungarian standard is comprised of 28 digits. IBAN is valid only if you use the entire set of digits, i.e. the closing zeroes of the IBAN cannot be left out.

You may want to remember that the check digits in the first four characters of IBAN vary from one account number to the next even in FOREXFOREX account numbers, where only the last digits are different.