Articles


BIC & IBAN Information - Derivation Rules for Ireland

A Bank Identifier Code ( BIC ) is a unique identifier for a banks and their branches. The BIC is either eight digits long for the main banks and eleven digits long for their branches. Read More...


Sort codes Modulus checking for bank account validation

SORT codes are 6 digit figures that appear in the form: xx-xx-xx or xx xx xx. They are exclusive bank and branch identifiers utilized in the UK. If you happen to be sending funds or transferring funds between banking institutions, you absolutely must have your SORT code. Read More...


How do I find my sort code and account number?

A bank account sort code is a number utilized by banks located in the UK to determine which banking institution the account is handled by. Though you could go into your local branch and ask the teller to print out a statement that explains how you can find your sort code, it is much less complicated to easily find it on your debit card. Read More...


List of sort codes of the United Kingdom

The following list displays the very first two digits of the sort codes given to clearing banks. Thus, in the illustration 01-10-01, 01 implies that the bank is a branch of the National Westminster Bank; the other sets of digits are for internal utilization. Read More...


What is CHAPS payment scheme?

A CHAPS transfer is started by the sender to transfer money to the recipient's bank account (at another banking institution) where the funds need to be available (cleared) the same working day. Distinct with a bank giro credit, no pre-printed slip specifying the recipient's details is needed. Read More...


What is a faster payment (FPS?)

The Faster Payments Service enables account holders to make electronic payments almost instantly, day-after-day, and 24x7. The payments made by mobile phone or internet banking to transfer funds between bank accounts, to other individuals), pay bills, or make normal standing order payments. The service was introduced in May 2008. Read More...