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The sort code is usually formatted as three pairs of numbers, for example 12-34-56. It identifies both the bank (in the first digit or the first two digits) and the branch where the account is held. [1] Sort codes are encoded into International Bank Account Numbers (IBANs) but are not encoded into Business Identifier Codes (BICs).
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 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.
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.
Hongkong & Shanghai Banking Corporation (HSBC) 268,267.33: 15 Bank of Commerce (BankCom) 229,169.59: 16 Philippine Trust Company (Philtrust Bank) 180,468.08: 17 Philippine Bank of Communications (PBCom) 150,778.08: 18 MUFG Bank Limited: 109,879.07: 19 Standard Chartered Bank Philippines (SCB PH) 106,714.72: 20 Maybank Philippines, Inc. 105,181. ...
Download QR code; Print/export Download as PDF; ... move to sidebar hide. HSBC Bank may refer to any one of the following principal local banks or divisions of ...
HSBC ceased banking operations in Nicaragua in 2009, [167] Georgia in 2011, [168] Slovakia in 2012, [169] and Palestine in 2015. [170] HSBC disposed of its 70.1% stake in the Dar Es Salaam Investment Bank, a bank based in Iraq, in 2013. [171] HSBC Bank (Turkey) transferred its operations in the Turkish Republic of Northern Cyprus to ALBANK in ...
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 ...