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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 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.
The bank code always consists of eight digits in Germany and five digits in Austria. In Switzerland and Liechtenstein, the bank clearing number (BC number) has the same meaning. The bank sort code must be specified for many business transactions in payment transactions (e.g. bank transfer ).
When a new bank is being organized, the current publisher of the directory of banks assigns it a transit code. [8] The American Bankers Association asked banks to use the directory exclusively so banks would agree on how to sort checks. [9] The book was abbreviated Key to Numerical System of The American Bankers Association, and as the Key.
The Industry Sorting Code Directory (ISCD) is the definitive list of bank branches and sub branches in the United Kingdom. The directory is maintained by VocaLink on behalf of UK Payments Administration (formally APACS ).
ZIP codes consist of five numbers, each with its own individual meaning which helps your mail and packages end up in the right area of the country—and even the right local post office (more on ...
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.
If you've been shopping in a big box retail store you've probably heard an announcement on the loudspeaker such as, "code yellow toys, code yellow toys." This "code" is one of many innocuous ...