A client in Texas asks for your routing number. One in London wants a sort code. One in Milan needs an IBAN. They are all asking for the same thing, the coordinates of an account, in the format their own bank understands. Give the wrong one and the payment bounces or waits in a queue. Here is the map.
United States: routing number and account number
The routing number, nine digits, identifies where the account is held. The account number identifies you. Together they are used for ACH payments and Fedwire wires within the United States. There is no IBAN in the US system.
United Kingdom: sort code and account number
The sort code, six digits, identifies the institution and branch. The account number has eight digits. They are used for Faster Payments, CHAPS and BACS within the United Kingdom.
Euro area: IBAN
The IBAN is a single string that starts with a two-letter country code, for example FI, followed by check digits and the account number. It is used for SEPA transfers in euro throughout the SEPA area. An IBAN from any member country is accepted in every other member country.
International: SWIFT or BIC
For transfers from outside these systems, banks use the SWIFT network and identify the receiving bank with a BIC, also called a SWIFT code. With iSwiss Pay, SWIFT is available on the US dollar account.
Which one to give
- Payer in the United States: routing number and account number.
- Payer in the United Kingdom: sort code and account number.
- Payer in the euro area: IBAN.
- Payer anywhere else: the SWIFT details of your US dollar account.
With iSwiss Pay you find each set of details in the app, on the corresponding account. Copy them exactly, including the name on the account.