IBAN verification

IBAN verification happens at several levels. The first check focuses on the format and control key (ISO 13616 standard), which indicates whether the IBAN is syntactically correct, though it does not prove the account exists. The second level verifies the actual existence of the account. The third, which offers the strongest protection against fraud, checks the match between the IBAN and the beneficiary's identity (VOP logic) as well as the authenticity of the supporting document (RIB). Therefore, an IBAN that is valid in format is not a guarantee against fraud.