Payments
IBAN and SWIFT details on an international invoice
Payment instructions should identify the receiving account and give the payer enough structured information to route the transfer. They should also be independently verified because invoice-payment fraud often targets changed bank details.
Decision summary
- Use the exact account-holder name held by the bank.
- An IBAN identifies an account; a BIC/SWIFT identifies an institution.
- Include the invoice number as the payment reference.
- Verify any changed bank details outside email before paying.
What each payment field does
An IBAN is a structured international account identifier used in participating countries. A BIC, often called a SWIFT code, identifies a financial or non-financial institution. Some payment corridors need both; others use domestic routing systems instead.
The account-holder name, bank name and bank address can help the payer validate instructions. Ask the receiving bank which details are required for the currencies and countries involved.
- Account-holder name
- IBAN or local account number
- BIC/SWIFT code where required
- Bank and branch details where required
- Invoice number as payment reference
- Amount, currency and due date
State how transfer charges are handled
International transfers can involve sending-bank, receiving-bank and intermediary charges. Contract terms or payment instructions can state whether the sender must ensure the full invoice amount arrives or whether fees are shared.
Avoid unfamiliar abbreviations unless the customer and bank use them consistently. If specifying charge codes such as OUR, SHA or BEN, confirm they are available for that payment rail.
Treat changed bank details as a high-risk event
Invoice redirection fraud commonly uses compromised email accounts or altered PDFs. A supplier should announce its verification process, and a customer should confirm changed details through a trusted phone number or portal rather than replying to the same message.
Keep edit access to invoice templates controlled. When details change, record who approved the change and when it took effect. A browser-side generator protects form data from a server upload, but it cannot protect a mailbox or the final PDF after it leaves the device.
Review point: Never publish real bank details in examples, screenshots, source repositories or test invoices.
Make the payment block easy to transcribe
Place bank fields in a labelled block and preserve spaces or grouping that improve human checking. Do not rely on a QR code or payment link as the only representation of the destination account.
Repeat the currency beside the amount due and give a concise remittance contact. The customer should not need to infer whether an account accepts the invoiced currency.
Common questions
Are IBAN and SWIFT the same thing?
No. An IBAN identifies a particular account in the IBAN system; a BIC/SWIFT code identifies the institution.
Does every international payment need an IBAN?
No. IBAN is used in participating jurisdictions. Other countries use domestic account and routing formats.
Should bank details be in the invoice PDF?
They can be, when bank transfer is offered. Use only necessary business payment details and apply a clear independent-verification process for changes.
Primary sources
Use these current public sources to verify the treatment for your transaction.