When sending a transaction, we’ll ask you information about your contact and their bank account. Make sure to enter all information carefully to avoid delays. Here’s what you’ll need to know:
- Bank name
- The correct IBAN and BIC/SWIFT codes
- The entire name of your contact as it appears on their bank account
- A valid phone number from your contact (city code + domestic number)
- We may ask for your contact's mailing address if required by our payment partner
Bank transfers to most major banks are deposited in 2-3 business days. However, each bank operates differently and may have additional rules and regulations regarding deposits that could add additional transfer time. Please ask your contact to check with their bank for more details.
What are the characteristics of an IBAN & BIC number in Luxembourg?
IBAN stands for International Bank Account Number and is used by banks in European countries for international funds transfers. The IBAN is a unique code that identifies a beneficiary’s bank account.
In Luxembourg, IBAN codes start with LU, followed by 2 check digits, a 3-digit bank code, and a 13-digit account number. Here’s an example:
LU 28 0019 4006 4475 0000
LU: Country code
28: Check digits
001: Bank code
9400644750000: Account number
A BIC is a unique identifier code for a particular bank. The BIC consists of either eight or eleven characters, including 4 letters identifying the bank, a 2 letter country code, 2 alphanumeric characters identifying location of the bank, and sometimes 3 alphanumeric characters identifying a specific branch of the bank.
Here’s an example:
BGLLLULL
BGLL: Bank identifier
LU: Country code
LL: Bank location