It is required for European banks and makes "wire transfers" much faster and cheaper compared to regular SWIFT transfers.Can you explain why I need a IBAN number and what it is for?
How complicated to open bank account in Cyprus and is it free?Does Cyprus banks offer SWIFT and IBAN account numbers?
Well, hundred of thousands have accounts in Cyprus. They don't have that bad reputation any longer!I won't consider Cyprus bank account as they have such bad records...