Understanding Global Bank Codes: A Guide to ABA, IBAN, SWIFT & More
When transferring money locally or internationally, using the correct bank identifier code is crucial. These codes help ensure your funds reach the correct financial institution without delays or errors. While codes like ABA, SWIFT, and IBAN are common, there are many others used globally that you should know. Here’s a breakdown:
🏦 1. ABA Number (Routing Transit Number) – USA
Purpose: Used for domestic U.S. transfers like ACH and wire payments.
Format: 9 digits (e.g.,
123456789)Authority: Issued by the American Bankers Association.
🌐 2. SWIFT/BIC Code – Worldwide
Purpose: Identifies international banks during cross-border transfers.
Format: 8–11 characters (e.g.,
HDFCINBBXXX)
🇪🇺 3. IBAN (International Bank Account Number)
Purpose: Standardized international bank account structure.
Format: Up to 34 alphanumeric characters.
Used in: Europe, Middle East, parts of Asia, and Africa.
🇮🇳 4. IFSC (Indian Financial System Code)
Purpose: Used for NEFT, RTGS, and IMPS transactions within India.
Format: 11 characters (e.g.,
SBIN0001234)
🇨🇦 5. Transit Number – Canada
Purpose: Identifies Canadian banks and branches.
Format: 9 digits (5-digit branch + 3-digit institution + 1 control)
🇦🇺 6. BSB Code (Bank-State-Branch) – Australia
Purpose: Required for domestic transactions within Australia.
Format: 6 digits (e.g.,
062-000)
🇲🇽 7. CLABE (Clave Bancaria Estandarizada) – Mexico
Purpose: Required for all interbank transfers in Mexico.
Format: 18 digits.
🌍 8. BBAN (Basic Bank Account Number)
Purpose: Domestic bank account format in many countries.
Note: BBAN is a component of IBAN.
Format: Country-specific.
🇬🇧 9. NCC / Sort Code – UK, New Zealand, South Africa
Purpose: Identifies banks and branches for local transactions.
Format: 6 digits (e.g.,
12-34-56in the UK)
✅ Summary Table
| Code | Region | Use | Format |
|---|---|---|---|
| ABA | USA | Domestic bank routing | 9 digits |
| SWIFT | Global | International bank ID | 8–11 characters |
| IBAN | Europe, ME, etc. | Cross-border account format | Up to 34 characters |
| IFSC | India | Domestic transfers | 11 characters |
| Transit | Canada | Bank + branch ID | 9 digits |
| BSB | Australia | Bank + branch ID | 6 digits |
| CLABE | Mexico | Full account routing | 18 digits |
| BBAN | Many countries | Domestic account ID | Varies |
| Sort/NCC | UK/NZ/SA | Local clearing ID | Country-specific |
📝 Final Thoughts
Whether you’re wiring money to Europe, paying a supplier in India, or receiving a deposit in Canada, using the correct code ensures fast, secure, and accurate transactions. Understanding these codes empowers individuals and businesses to navigate global banking with confidence.
