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Iban

International Bank Account Number (IBAN) is a standard format for referencing accounts held by financial institutions and is used by banks when processing cross-border payments.

IBAN formats vary between countries. The number includes check sum digits so senders can check the viability of a foreign beneficiary's account number before transmission. eg GB11 COUT 1800 0201 2345 67

Inheritance tax (iht)

Tax payable on death if an estate exceeds a level set by HMRC. The bank can release funds for the purpose of paying this tax.

Intestate/intestacy

An estate where the deceased has not left a valid will.