Validating bank account numbers
A Bank Code is a unique identification code for a particular bank.
These codes are used when transferring money between banks and also can be used to exchanging other messages between them.
The code can be divided into international bank codes such as SWIFT codes and local or specific country bank code.
Examples of local bank code are BSB Number, Sort Code and Routing Number.
If the customer account does not belong to any of the participating banks, the account is automatically validated using the largest experiential positive and negative database reports from more than 160 million bank accounts that cover more than 70% of the entire US Banking system.
NOTE: The Account Verification product does NOT verify the identity of the account holder.
ABA (American Banker's Association) routing numbers are used to identify financial institutions when making transactions.
This number is usually required when setting up a bank account for direct deposits, automated payments, etc.
Account Verification sources include a wide network of participating banks to check if the account is open and currently in good status with a positive balance.A second layer of validation is performed by searching for the existence of sort codes in the extremely detailed Sort Codes Directory issued by BACS.By combining powerful API for automating checking procedures and licensing data sources, we power the dynamic electronic payment market's decision making processes.Or when making payments by "paperless" check over the phone or online.These routing numbers include a checksum digit which can be used to help verify if a given number is valid or not. You can usually find your own bank's routing number printed on your checks (look for a nine-digit number at the bottom center of the check).
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Sort Codes are a unique number assigned to branches of banks and financial institutions in the United Kingdom and Ireland.