Why are IBANs needed for international payments?
IBANs help make sure that international payments reach the correct account. They contain details like the bank and account number, which reduces errors and speeds up transfers. While New Zealand banks don’t use IBANs, they’re required in many other countries.
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Things you should know.
Westpac Banking Corporation (acting through its New Zealand branch) ABN 33 007 457 141, incorporated in Australia (Westpac) is the provider of foreign exchange and international payment products and services. See information about our International Service Fees.