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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.
IBAN stands for international bank account number, and this number works like a routing number for international transactions. The number identifies the country where a bank is located and also ...
The national bank codes have been integrated into the IBAN definition, in most cases at the start of the new account number (starting at position 5 after the common prefix of two-letter country identifier and two check digits). This is valid for transfers in the euro currency.
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 overlapping issue between ISO 9362 and ISO 13616 is discussed in the article International Bank Account Number (also called IBAN). The SWIFT network does not require a specific format for the transaction so the identification of accounts and transaction types is left to agreements of the transaction partners.
A Universal Payment Identification Code (UPIC) is an identifier (or banking address) for a bank account in the United States used to receive electronic credit payments. [1] A UPIC acts exactly like a US bank account number and protects sensitive banking information.
Bank card number – Used as Bank Identification Number; Bank code discusses formats used by other countries and regions. Bank State Branch, or BSB code used for Australian banks; International Bank Account Number; ISO 9362, the SWIFT/BIC code standard; Magnetic ink character recognition – How RTN's are printed; Sort code, used by British banks
Pros. Cons. Good alternative to using a credit or debit card, with less chance of overspending. Hard to use if you’re online shopping as most retail websites won’t take checking account ...