What this means for you is:

• The ability for innovators to provide you with faster, cheaper and more reliable alternatives to current financial services provided by large banks, other lenders, financial markets, card or online settlement systems
• Freedom to choose the right service for you based on the facts without having to read through 10,000 pages of legalese
• The ability to 'talk with your money' and reject the services of specific financial service providers or regulatory jurisdictions that bully you or impinge upon your rights.
• Simpler and cheaper access to foreign exchange and investment services that have previously been largely the domain of the wealthy.

Individuals based in Europe and some other areas will already be familiar with the IBAN (or International Bank Account Number), a new standard for international banking that was developed by the European Union and is now being used in an increasing number of additional countries and jurisdictions.  

IFEX encouranges the use of the IBAN or a slightly modified version of the IBAN, known as the IIBAN (or Internet International Bank Account Number).   The IIBAN is a sixteen letter code made up of capital letters and numbers, and is what you use to identify your accounts when you want someone to send you money, or what they'll give you when they want you to send them money.

If you already have an IBAN with an established bank, why not ask them to support IFEX?

If you don't, an IIBAN will be easy to get from any number of providers - in fact you can even register to provide them yourself.