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Sort codes are the domestic bank codes used to route money transfers between financial institutions in the United Kingdom, and formerly in the Republic of Ireland. They are six-digit hierarchical numerical addresses that specify clearing banks, clearing systems, regions, large financial institutions, groups of financial institutions and ultimately resolve to individual branches.
The codes, known as Eircodes, consist of seven characters. The first three characters, called the Routing Key, are designed to benefit the postal and logistics industry and contain on average 15,000 addresses each. The Routing Key is used to help sort mail, it is the principal post town of the address as defined by An Post.
Codes A41 – K78 later added under the Eircode system. Dublin postal districts have been used by Ireland 's postal service, known as An Post , to sort mail in Dublin . The system is similar to that used in cities in Europe and North America until they adopted national postal code systems in the 1960s and 1970s.
There are currently 139 routing key areas in the country. This table does not include the second part of Ireland's seven-character Eircodes, known as the "unique identifier". These are unique to individual addresses and are not street-level identifiers, as is the case in other countries. There are currently 2.2 million of these codes. [2]
The first two digits of the sort code identify the bank (90-xx-xx = [Bank of Ireland], 98-xx-xx = [Ulster Bank], for example) and the last 4 identify the branch. There is an exception with 99-xx-xx - these codes are used for international banks Irish Clearing ACs, and some Post Office accounts.
It carries all the routing information needed to get a payment from one bank to another wherever it may be; it contains key bank account details such as country code, branch codes (known as sort codes in the UK and Ireland) and account numbers, and it contains check digits which can be validated at source according to a single standard ...
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The bank sort code must be specified for many business transactions in payment transactions (e.g. bank transfer). With the establishment of the Single Euro Payments Area (SEPA), which completely replaced the national payment systems from 1 February 2014, the bank codes in the participating countries were replaced by BIC (Business Identifier ...