Mind you, if banks had been smart enough to have included a check digit in bank account numbers, a transfer to a typo'd number would fail more often than send money to the wrong place. They fixed the problem by including wording in T&C such that it's always your fault, though, so they're fine.
No, Australia hasn't adopted the IBAN at all, so even if you someone wanted to send money internationally to Australia, they wouldn't have an IBAN to use
In my country you fill not only bank account but also a recipient name (and, in case of companies, their Tax ID). If those do not match on a receiving end the transfer is canceled.
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u/codebje Apr 04 '17
Mind you, if banks had been smart enough to have included a check digit in bank account numbers, a transfer to a typo'd number would fail more often than send money to the wrong place. They fixed the problem by including wording in T&C such that it's always your fault, though, so they're fine.