FAQ

​​​​​​​​​​​​​​​​ The Housing Bank For Trade & Finance responds to whatever queries you have in regards to any of our services. Your questions and answers will be found in this Frequently Asked Questions (FAQs) section. We have classified questions with their ideal answers in different categories based on subject relevance to facilitate the search process.

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  • Will my bank provide me with different IBAN for each of my accounts? Will my bank provide me with different IBAN for each of my accounts?

    Yes, for all accounts that accept outgoing or incoming transfers or both.

  • Will the existing account numbers become nonworking when the IBAN is applied? Will the existing account numbers become nonworking when the IBAN is applied?

    No

  • Do I need the beneficiary’s IBAN when requesting to issue a money transfer from my account to a beneficiary’s account with another bank inside the Kingdom? Do I need the beneficiary’s IBAN when requesting to issue a money transfer from my account to a beneficiary’s account with another bank inside the Kingdom?

    Yes,  and otherwise the request will be rejected.

  • Do I need the beneficiary’s IBAN when sending interbank transfers across international borders? Do I need the beneficiary’s IBAN when sending interbank transfers across international borders?

    Yes, if the beneficiary is located in a country that uses and practices IBAN, otherwise, the request with be rejected.

  • Do I need to provide the authorized entity with my IBAN to perform a transfer to my account with a bank operating inside the Kingdom? Do I need to provide the authorized entity with my IBAN to perform a transfer to my account with a bank operating inside the Kingdom?

    Yes.

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