The IBAN was originally developed to facilitate payments within the European Union but the format is flexible enough to be applied globally. In addition, many international financial institutions use an IBAN code. Incoming international wire transfers also use a BIC code, also known as a SWIFT code, as they are administered by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and defined by ISO 9362. Domestic transfers that use the ABA RTN will usually be returned to the paying bank. On a paper check, the ABA RTN is usually the middle set of nine numbers printed at the bottom of the check. They are used on paper check, wire transfers, and ACH transactions. Many institutions have more than five ABA RTNs as a result of mergers.ĪBA RTNs are only for use in payment transactions within the United States. The Routing Number Policy allows for up to five ABA RTNs to be assigned to a financial institution. Every financial institution in the United States has at least one. There are approximately 26,895 active ABA RTNs currently in use. The "Key Book" contains the listing of all ABA RTNs that have been assigned. Accuity publishes the American Bankers Association Key to Routing Numbers semi-annually. Accuity is the Official Routing Number Registrar and is responsible for assigning ABA RTNs and managing the ABA RTN system. Since 1911, the American Bankers Association has partnered with a series of registrars, currently Accuity, to manage the ABA routing number system. The ACH Network also uses ABA RTNs in processing direct deposits, bill payments, and other automated money transfers. The Federal Reserve Bank uses ABA RTNs in processing Fedwire funds transfers. Newer electronic payment methods continue to rely on ABA RTNs to identify the paying bank or other financial institution. The American Bankers Association (ABA) developed the system in 1910 to facilitate the sorting, bundling, and delivering of paper checks to the drawer's (check writer's) bank for debit to the drawer's account. 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. For the Canadian bank routing number system, see Routing number (Canada).
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