So, if you’re sending or receiving an international transfer from Europe (and several other territories), you will need an IBAN. It is not used in the US (as well as in Canada, Australia, and New Zealand). It is generally used for international transfers in Europe and several other territories. While a routing number and a SWIFT code are both numbers used to identify a specific financial institution, an IBAN is a personal bank account number. If you’re the one receiving an international transfer, you’ll have to provide your bank’s routing number, as well as its SWIFT code. If you’re the one making an international transfer to a beneficiary outside the US, you’ll need to enter the SWIFT code of the beneficiary’s bank. This code will identify the country, bank, and branch of the recipient's account. SWIFT BIC routing code for First Tennessee Bank Na is FTBMUS44CHA, which is used to transfer the money or fund directly through our account. So, if you have a US bank account and want to make a domestic wire transfer, you'll need the routing number of the recipient’s bank.Ī SWIFT code (also called BIC) is used for the identification of banks and financial institutions globally when making international money transfers. We’ve already explained what’s a bank routing number and it’s also worth mentioning that they’re only used in the US. These three, SWIFT code, routing number, and IBAN are the most common ones, and it's important to know what each one means. It’s normal to get confused by all the acronyms and codes involved in (international) wire transfers. As shown in the picture, the routing number is at the bottom left corner of a check. You can usually find it on your check or bank statement. There are many ways to find your bank’s routing number. They are required by the Automated Clearing House (ACH) network to permit electronic transactions, such as wage and pension payments. The terms «routing,» «transit» and «ABA» number are all used today and have the same meaning.Ī routing number is used when processing check and electronic transactions, like fund transfers, direct deposits, bill payments, and digital checks.įedwire money transactions are processed by the Federal Reserve Banks using routing transit numbers. The American Bankers Association (ABA) established these numbers. A routing transit number is a nine-digit number that identifies a bank or financial institution when clearing money for electronic transfers or processing checks in the US.
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