An IBAN comprises information banks can use to authenticate your account number, your bank's country of origin, and other account information.
The code is compared to the IBAN register when you make a payment to check that the recipient is correct.
The transaction will fail if an IBAN is supplied improperly and there is no account associated with that IBAN. The transfer will go through if a corresponding account exists, and the bank can only revoke it with the recipient's approval.
Several banks utilize an IBAN checker, also known as an IBAN lookup, to ensure that legal IBANs are error-free.