IBAN vs
simplified identifier
Understanding the implications of identification by phone number.
The IBAN universally identifies a bank account in the SEPA zone, but its 27 characters (in France) are long to type and prone to errors. NexEuro's simplified identifier links an already-known phone number to the recipient's account: the IBAN is still used behind the scenes, but the user no longer has to handle it.
| Criterion | Simplified identifier | IBAN |
|---|---|---|
| Speed | Immediate: a number already in your contacts | 27 characters to type or paste |
| Availability | Between NexEuro network users | Universal, any SEPA-zone account |
| Details required | Phone number | Full IBAN (+ BIC in some cases) |
| Confirmation | Recipient's name shown before sending | Payee verification (VoP) depending on the bank |
| Usage area | Everyday payments between friends | Formal transfers, administrations, invoices |
| Use cases | Reimbursement, bill splitting, group pot | Salary, rent, direct debit, mandate |
| Error risk | Reduced: no long number to copy out | Possible typo on the IBAN |
What actually matters.
The IBAN doesn't disappear
It remains the reference bank detail: the simplified identifier sits on top of it, it doesn't replace it.
Fewer entry errors
A known phone number removes the risk of copying out a 27-character IBAN.
The name, before sending
Showing the recipient before confirmation reduces transfers sent to the wrong account.
For everyday payments between friends, the simplified identifier is faster and safer to enter. The IBAN remains essential for formal transfers and outside the network.