What Shipping Company Has 13 Digit Numerical Tracking Numbers

banking codes

If you have made a money transfer through a bank or via companies like WorldFirst or Moneycorp, you have likely come across terms such as SWIFT code, BIC code, IBAN, and sort code.

What exactly are these acronyms, and what are they used for?

In this article, we take a closer look so that you are fully informed of the process behind international currency transfers.

For the meaning of the numbers on your credit card, read the explainer here.

SWIFT Code

SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication , which provides a network that enables banks anywhere in the world to send and receive information in a standardised and secure environment.

In practical terms, the SWIFT code is a standard format of Business Identifier Codes (BIC), which are used by banks when transferring money between them. The SWIFT code is usually required when you conduct an international money transfer.

*It's important to keep in mind when having a discussion at the bank that the SWIFT code is the same thing as theSWIFT-BIC ,BIC, BIC code, orSWIFT ID. All of these acronyms refer to the same code.

How Does SWIFT Help Me?

If your bank is affiliated with SWIFT, it can use the network to make very quick and secure money transfers. This helps clients move money around without any hassle.

What Does It Look Like?

The SWIFT code consists of either eight or 11 characters and is formatted as follows:

AAAA–BB–CC-DDD

The first 4 characters are the bank code (only letters);
The next 2 characters are the country code (only letters);
Next 2 characters are the location code (letters and digits);
The last 3 characters represent the branch code (letters and digits).

Top 10 Banks* and their SWIFT codes:

P.Morgan Chase & Co in New York City, NY –BOFAUS3DSHA
Bank of America in Charlotte, North Carolina –BOFAUS3DCRD
Wells Fargo in San Francisco, California –WFBIUS6S
Citigroup in New York City, NY –CITIUS33
Goldman Sachs Group in New York City, NY –GSCMUS33
Morgan Stanley in New York City, NY –MSNYUS33
S. Bancorp in Minneapolis, Minnesota –USBKUS44IMT
Bank of New York Mellon in New York City, NY –IRVTUS3N
PNC Financial Services in Pittsburgh, Pennsylvania –PNCCUS33
Capital One in McLean, Virginia –NFBKUSF1

*By assets under management according to Wikipedia .

One feature of SWIFT payments are the automated codes provided by institutions directly to customers when making a transfer.

There are dozens of SWIFT codes split into 9 categories, providing a range of information about the exact transfer. Examples include:

MT 192	Request for Cancellation
MT 256	Advice of Non-Payment of Cheques
MT 300	Foreign Exchange Confirmation

SWIFT codes also share a uniform design that includes specific syntax and structure:

Basic header block
Application header block
User header block (optional)
Text block
Trailer block

check-form

SWIFT Codes by Country

Australia	Germany	New Zealand	Sweden
Belgium	Greece	Nigeria	Switzerland
Brazil	Hong Kong	Norway	Thailand
Canada	India	Poland	UAE
China	Ireland	Portugal	UK
Cyprus	Israel	Philippines	USA
Denmark	Italy	Romania
Estonia	Japan	South Africa
Finland	Morocco	Spain
France	Netherlands	Sri Lanka

Transferring money Internationally for Cheap

If you want access to easy-to-use services for transferring money abroad, specially geared for large money transfers, we have some recommendations and guides for you. Since 2014, International Money Transfers org has been researching and comparing online money transfer services.

Below you can find more information about Currencies Direct, the service we deem as the simplest and best to use for private customers in 2020.

IBAN

An IBAN, or International Bank Account Number, is the customer's bank account number in a standard, internationally recognised format. Used with a Bank Identifier Code (BIC), it helps to process international payments automatically, making them more secure and faster. It also helps prevent payments from being rejected, delayed, or sent incorrectly, which could involve additional charges being applied.

The IBAN is an internationally agreed-upon system created to facilitate the process of cross border transactions with a reduced risk of transcription errors. The IBAN code is used when making money transfers between banks, mostly to/from other countries.

Initially, the system was created to facilitate payments within the European Union, but it has quickly been implemented in most European countries (like whensending money to/from Spain) as well as other parts of the world, like the Middle East (UAE) and the Caribbean. As of February 2016, there are 69 countries officially using the IBAN system.

IBAN Code Format

The IBAN code consists of up to 34 characters, containing both letters and digits, and has the following structure:

AA–BB–CCCCCCCCCCC

The first 2 characters represent the country code (only letters);
The next 2 characters specify the check digits * (only digits);
The rest of them represent a long and detailed bank account-number.

* A check digit is a form of redundancy check used for error detection on identification numbers

Routing Number (USA)

The routing number is a nine-digit numerical code used to transfer money to USA to identify a specific financial institution, and it is used for domestic transfers. You can easily find it at the bottom of your checks.

The format of the Routing Number code is like this:

AAAA BBBB C

AAAA is the Federal Reserve Routing Symbol;
BBBB is the American Bankers Association (ABA) Institution Identifier;
C is the check digit.

Canadian Transit Number

Canadian transit numbers are regulated by theCanadian Payments Association and consist of nine numerical digits. They are used to identify an individual branch of a financial institution in Canada.

The format of the code is pretty simple:

AAAAA–BBB

The first 5 digits represent the Branch Number;
The last 3 digits are an Institution Number.

For Electronic Fund Transactions (EFT) the format starts with a zero, then the institution number, then the branch number all with no dashes. For example, if a transit number is AAAAA-BBB, the corresponding EFT code would be 0BBBAAAAA.

Good to know : Most of the time, the last digit of the branch number indicates the location of the branch:

0 are located in British Columbia and Yukon
1 are located in Western Québec, including Montreal and surrounding areas
2 are located in Ontario, including Toronto and the surrounding area
3 are located in Nova Scotia, Prince Edward Island, and Newfoundland, excluding Labrador
4 are located in New Brunswick
5 are located in Eastern Québec, including Labrador
6 are located in Eastern Ontario, including Ottawa and surrounding area
7 are located in Manitoba and North-Western Ontario
8 are located in Saskatchewan
9 are located in Alberta, the Northwest Territories, and Nunavut

If you want to find the transit number needed for you, be sure to visit this page and search inside our huge database of all the transit numbers from all of the banks in Canada.

Sort Code (UK)

The sort code is used by the British banking industry to route money transfers between banks domestically. The code identifies both the bank and the branch where the account is held.

The structure of the code is very simple and is comprised of six numbers split into three pairs, usually formatted as three pairs of numbers:

AA–BB–CC

What Shipping Company Has 13 Digit Numerical Tracking Numbers

Source: https://internationalmoneytransfers.org/all-about-the-swift-bic-iban-routing-number-and-sort-codes/

Lhotsky Thictly