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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.
A high street building society branch, in Banbury. A building society is a financial institution owned by its members as a mutual organization, which offers banking and related financial services, especially savings and mortgage lending.
The number of payments passing through the Bacs system topped six billion for the first time the following year, with a value of £4.6 trillion. The number of direct debits processed in 2015 increased by 239 million over the 2014 total. [16] A record 103 million transactions were processed in a single July 2015 day.
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.
Faster Payments logo. The Faster Payments Service (FPS) is a United Kingdom banking initiative to reduce payment times between different banks' customer accounts to typically a few seconds, from the three working days that transfers usually take using the long-established BACS system.
For the financial year 2021/2022, the British building society sector had assets of around £483, of which more than half were accounted for by the cooperative Nationwide Building Society. European Co-operative Banking: Facts and figures 2017. Based on the 2017 Key statistics collected by the EACB.
By 2014 it was the publisher of the semi-annual ABA Key to Routing Numbers and was owned by Reed Business Information, British publisher of reference works for professionals, which in turn is owned by Reed-Elsevier, English-Dutch publisher of online format reference works for professionals.
The Nottingham Building Society is a building society in the UK, with its headquarters in Nottingham, England. It is a member of the Building Societies Association. At December 2022, the Society had total assets of more than £3.8 billion. [1] The Society was founded in 1849 by a group led by Samuel Fox (1781–1868), a Quaker and prominent ...