What is the use of IBAN, SWIFT and Sort code?

IBAN

• An International Bank Account Number (IBAN) of your bank account is required while making an international payment.
• IBAN is required when you are making a SEPA transfer.
• It is used to identify your bank account and make direct payments.
• Banks use an IBAN calculator to merge your local account details, which forms your IBAN.
• You can receive money from abroad into your bank account.
  

SWIFT code

• The SWIFT code is used in international banking, which is used when transferring payments through the SWIFT network of banks.
• SWIFT code is used by overseas banks to identify your bank account and make direct payments.
  

Sort code

• The sort code is used by the British bank to transfer money globally.
• It is used to identify banks and their respective locations within the country.
• Sort code is located on bank statements, bank-issued cards; and cheque books.