Why does my audit letter only include the LU IBAN?
As Banking Circle is regulated in Luxembourg, all account balances are held and reconciled there. Therefore, audit confirmations reflect the LU IBAN, which represents the central account location.
While DK, DE, and GB IBANs are available for operational purposes in other jurisdictions, all funds regardless of the IBAN used for sending or receiving payments are ultimately held in Luxembourg. This ensures consistent reporting and regulatory alignment.