Essential banking and payment terms explained clearly.
BBAN
Basic Bank Account Number
Check Digits
IBAN Check Digits (MOD-97)
Country Code
ISO 3166-1 Alpha-2 Country Code
EPC
European Payments Council
IBAN
International Bank Account Number
IBAN Registry
SWIFT IBAN Registry
ISO 13616
IBAN Standard (ISO 13616)
MOD-97
Modulus 97 Check Algorithm
SCT
SEPA Credit Transfer
SCT Inst
SEPA Instant Credit Transfer
SDD
SEPA Direct Debit
SEPA
Single Euro Payments Area
BIC
Bank Identifier Code
Correspondent Bank
Correspondent Banking Relationship
FX Rate
Foreign Exchange Rate
Intermediary Bank
Intermediary / Correspondent Bank
ISO 9362
BIC Standard (ISO 9362)
MT103
SWIFT MT103 Payment Message
Nostro Account
Nostro / Vostro Account
SWIFT Code
SWIFT/BIC Code
SWIFT Network
Society for Worldwide Interbank Financial Telecommunication
Wire Transfer
International Wire Transfer
ABA Number
American Bankers Association Number
ACH
Automated Clearing House
ACH vs Wire
ACH Transfer vs Wire Transfer
Check Routing
MICR Line and Check Routing
EFT
Electronic Funds Transfer
Fed District
Federal Reserve District
Fedwire
Federal Reserve Wire Network
MICR
Magnetic Ink Character Recognition
NACHA
National Automated Clearing House Association
Routing Number
ABA Routing Transit Number
Account Number
Bank Account Number
Bank Code
National Bank Code
Beneficiary
Payment Beneficiary
Branch Code
Bank Branch Identifier
Checksum
Validation Checksum
Clearing System
Payment Clearing System
Payment Rail
Payment Rail / Network
PSD2
Payment Services Directive 2
Real-Time Payments
Real-Time Payment Systems
Remittance
Remittance Information