|
Frequently Asked Questions
 Q:
What is IBAN
A: IBAN stands for the International Bank Account Number (IBAN). An IBAN is a
unique number that is generated for each and every account held with Doha Bank.
The IBAN for Qatar will be 29 digits in length and will contain the following
information; Country Code, Security Digits, Bank Identifier Code
followed by your current Bank Account Number.
Q:
Will IBAN replace my existing Account Number
A: No, IBAN will not replace your existing Account number. Additional
characters will appear in front of the existing bank account number and the
whole sequence of alpha numeric digits will be known as the IBAN.
Q:
What is the difference between an IBAN and a normal bank account number and
what are its distinguishing features
A: An IBAN can always be distinguished from a normal account number by the
following:
Two letters at the beginning of the IBAN, which refer to the country code where
the account resides;
Two numbers (in the third and fourth position of the IBAN) which represents
security digits;
Four letters (after the security digits) to identify the respective bank (swift
code) where the beneficiary maintains his/her account; and the last 21 numeric
digits represent the beneficiary account number with leading zeros. The length
of IBAN in Qatar is 29 characters.
Q:
What is the benefit of IBAN?
A: The main benefit of IBAN is to facilitate the automatic processing of money
transfers between countries which are IBAN compliant. Since banks are required
to check the accuracy of the IBAN at the point of initiating a funds transfer,
they can only make the funds transfer which carry the correct IBAN.
Q:
How will I get to know the IBAN for my account(s)
A: IBAN will be printed on your Statement of Account(s) that will be dispatched
to you in December 2013 with a separate letter enclosed, however if Customer do
not receive the printed communication they can always obtain their IBAN
through the following channels
(a)Online Banking
(b)Mobile Banking
(c)E-Statement / Statement of Account
(d)Generate IBAN through Doha Bank website
Q:
Is there a standard way to write an IBAN?
A: When you write or print an IBAN on a document, it has to be split into
groups of four characters each, Separated by a blank space of one character and
the last group shall have a length of one character,
E.g. QA01 DOHB 0000 1234 1234 1234 1234 1 .
However, there should not be any blank spaces when entering the IBAN in an
electronic payment system. The IBAN should be presented in an electronic
payment system as a continuous string of Characters i.e...
QA01DOHB000012341234123412341.
Q:
For which transaction(s) can IBAN be used?
A: (a) All Domestic incoming and outgoing transfers to/from customer accounts
with local Banks/Financial Institutions via SWIFT/QATCH/TERMS.
(b) All incoming cross boarder transfers to customer accounts with
Banks/Financial Institutions in Qatar.
(c) All outgoing cross boarder transfers to customer accounts with
Banks/Financial Institutions in the countries where use of IBAN is mandatory.
Q:
What happens if we do not mention Beneficiary’s IBAN for countries where there
is a mandatory requirement for IBAN Usage?
A: Banks will not process and will reject such transfers if they do not contain
a valid IBAN.
Furthermore, there may be additional rejection charges applied to the transfer.
Q:
When will IBAN be fully implemented in Qatar?
A: As per the directive issued by Qatar Central Bank, Doha Bank is migrating to
ISO International Bank Account Number (IBAN) standard for numbering of customer
bank accounts effective 1st January, 2014 that will run through until 30th
April,2014 (as a transitional period) and effective 1 st May 2014 will become
mandatory to have IBAN numbers.
Q:
Which countries are currently using IBAN?
|