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In the United States, an ABA routing transit number (ABA RTN) is a nine-digit code printed on the bottom of checks to identify the financial institution on which it was drawn.
The (national) bank codes differ from the international Bank Identifier Code (BIC/ISO 9362, a normalized code - also known as Business Identifier Code, Bank International Code and SWIFT code). Those countries which use International Bank Account Numbers (IBAN) have mostly integrated the bank code into the prefix of specifying IBAN account numbers.
The account number is ten characters long and uses all of the weights, whereas the bank code + branch code are eight characters long and thus use only the last eight weights in the calculation (or equivalently, pad with two zeros on the left and use the ten weights).
The American Bankers Association routing number, or ABA routing number, uses a nine-digit code to identify U.S. federal- or state-chartered banks. This system was started in the U.S. in 1910.
Also known as transit numbers, or ABA numbers, routing numbers are comprised of nine digits. Using 000011112 as an example, the numbers can be broken down into segments:
For international wire transfers, you’ll use a SWIFT code instead of a routing number. Regions Bank uses the SWIFT code UPNBUS44. Here’s a quick look at different wire transfer numbers at Regions:
Fedwire. Fedwire (formerly known as the Federal Reserve Wire Network) is a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks that allows financial institutions to electronically transfer funds between its more than 9,289 participants (as of March 19, 2009). [1]
A UPIC acts exactly like a US bank account number and protects sensitive banking information. The actual bank account number, including the bank's ABA routing transit number, are masked by the UPIC. Only credit transactions to an account can be initiated with a UPIC.
Routing numbers can also be used to pay bills online, set up recurring transfers or process checks. The American Bankers Association created routing numbers — also known as ABA numbers — in ...
SWIFT deviates slightly from the standard, though, by using position nine for a Logical Terminal ID, making its extended codes 12 digits long. [21] European banks making transfers within the European Union and within Switzerland also use the International Bank Account Number , or IBAN.