Can't add IBAN number

[NewDayWatch]

Hi

I am trying to set up a new store and also Shopify Payments. A part of that is to submit my IBAN number.

I've fetched the number from my Revolut (banking) app, but I keep getting an error that it's invalid. I've checked it at least 100 times, and it's 1-to-1 with what it says in my app.

Is there anything I am missing?

[Oliver]

Hi, @NewDayWatch !

I think I see the issue here. The IBAN needs to be from a banking institution physically located in the country you're signing up in. Virtual banks can't be supported for this reason. It looks like the issue is the Revolut bank account here. If you let me know what country you're trying to get set up in, I'd be happy to send you the required specifications for a bank account.

All the best!

[NewDayWatch]

Hi Oliver

Thanks for the quick response.

I'm in Denmark and have a DKK account with Revolut. Although I do believe it is a UK based company technically..

[Oliver · Accepted solution]

@NewDayWatch 

Thanks for clarifying that for me. That's probably what the issue here is then. I'm not familiar with Revolut but it looks like it's a virtual bank which means it would not be supported. You can find more information about setting Shopify Payments up in Denmark here but I'll add the specifications for you below:

• A standard bank account with a financial institution must be provided (e.g., checking). Other types of bank accounts (e.g., savings) or those with a virtual bank account provider (e.g., e-wallet or cross-border services) are not supported.
  
• Bank accounts in the EU use an International Bank Account Number (IBAN) as their identifier
• IBAN's will begin with the prefix AT BE CH DE DK EE ES FI FR GB GI IE IT LU NL NO PT SE.
• Due to the nature of EU banking, merchants are able to use a bank account from any IBAN supported country in the EuroZone (beginning with any of the above prefixes) when setting up Shopify Payments Denmark, as long as the currency is in EURO. (beginning with any of the above prefixes) when setting up Shopify Payments Denmark, as long as the currency is in EURO
  
• If you wish to get paid out in DKK, the IBAN will need to be Danish.
  

Let me know if you have any questions or if you need anything clarified!

[Frisk_20]

Hi there, 

I have the exact issue and the only way to get around is to accept payments in Euros - which will be expensive in the long run. Revolut is a cheap bank for small business but not a good deal for danish companies. We are now looking to open a business account with Danske bank or Nykredit that have the most favorable conditions for small businesses. I hope it helps.

[Kaperdrawer]

Hi, 

I have the same issue (IBAN is invalid) i have two different bank accounts in 2 different countries Tanzania and U.A.E (Dubai). Can you please provide me with any info that i can help me complete my set up?

Thank you.

[lorcanmc123]

hi, my iban is also not working i am trying to add it but its says it is not valid. my bank account is with the AIB bank in ireland and i am also in ireland