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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).
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The Extended Industry Sorting Code Directory (EISCD) is based upon the ISCD and was introduced to provide reference data to support the UK's Faster Payments service. The EISCD contains all data elements found within the ISCD, with the addition of a new section containing Faster Payments clearing information for each UK bank branch.
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.
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.
Barclays customers and the customers of many other banks can use Barclays ATMs for free in the UK, although in some other countries fees are charged. Barclays is a member of the Global ATM Alliance , an alliance of international banks which allows each banks' customers to use their ATM or debit card at all other member banks with no ATM access ...
Is the current version of the tables in this article better or worse than the previous version? 136.8.152.13 16:32, 7 March 2008 (UTC) Didn't spot this before I made an adjustment to the article. The 'current version' when this RfC was added was this one. Mauls 17:56, 7 March 2008 (UTC) Worse.