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For example, a check from Wachovia Bank in Yardley, PA, has a fraction of 55-2/212 and a routing number of 021200025. The prefix (55) no longer has any relevance, but from the remainder of the fraction, the first 8 digits of the routing number (02120002) can be determined, and the check digit (the last digit, 5 in this example) can be ...
ABA routing transit number, a bank code used in the United States Transit number, the branch identification portion of a Canadian bank routing number Topics referred to by the same term
a form of bank code, in particular: Routing number (Canada) ABA routing transit number, a bank code used in the United States This page was last edited on 5 ...
The bank's transit number, also called bank number, began to be used instead of words. [10] [11] [12] The bank number was written as the upper line of a fraction, with the bottom number referring to the central bank branch. Some people wrote just the top of the fraction, others tried writing the entire fraction.
A bank code is a code assigned by a central bank, a bank supervisory body or a Bankers Association in a country to all its licensed member banks or financial institutions. The rules vary to a great extent between the countries.
In a currency, there is usually a main unit (base) and a subunit that is a fraction of the main unit. In some countries, there are multiple levels of subunits. In the former Ottoman Empire, 1 lira = 100 [kuruş] = 4000 para = 12000 [akçe].
The process of fractional-reserve banking expands the money supply of the economy but also increases the risk that a bank cannot meet its depositor withdrawals. Modern central banking allows banks to practice fractional-reserve banking with inter-bank business transactions with a reduced risk of bankruptcy. [10] [11]
A typical British bank statement header (from a fictitious bank), showing the location of the account's IBAN. The International Bank Account Number (IBAN) is an internationally agreed upon system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors.