Author:
Hi all,
here in Europe, each bank account has something called an IBAN - which stands for International Bank Account Number.
If I wish to make a transfer to someone, all I need is the recipient's IBAN and I can on-line transfer funds. This has worked from Europe to Australia, to South Africa and within the Eurolands as well.
Internally, in the UK, I can transfer funds to the recipient if I know three things - the account number, the name on the account and the sort code of the receiving branch. The sort code identifies the bank and its branch and is something like 20-12-66. The account number is the account number at that branch, something like 00487312.. And the name is a check to make sure that the account number does indeed belong to that person.
I was trying to send some funds to a US account, but they had no idea whatsoever what an IBAN was - nor a sort code etc etc. So I couldn't do the transfer.
What - EXACTLY - is used in the US? What numbers do I require? Then I can email the recipient and tell her to ask her bank for those details ...
Thanks in advance
Julia.
Comments
moving money.
You can use western union to move money. or you could use a pay pal account. Write a paper check and ship it overnight mail.
It sucks. I know.
Jessica Marie.
ABA Routing Number
The US equivalent is the ABA routing number (sometimes referred to as the Routing Transfer Number). It is a 9 digit string. To make a transfer you will need the ABA routing number and account number. I believe NatWest and HSBC online banking has the ability to directly make a transfer from your account. Other banks generally have a link on their websites with a phone number to call.
Persephone
Non sum qualis eram
Account numbers and routing numbers
which sound pretty much like exactly what you're talking about: a six number routing number, and a checking/savings account number for the recipient, are all you really need for funds transfer.
Melanie E.
Have your friend ...
Have your friend get the routing number for international funds transfer from the bank. Some banks have more than 1 routing number.
numbers
actually Iban is mostly those countries that agreed to it. Does not include russia or asia last time I checked.
Routing numbers, bank numbers, account numbers, branch numbers. All these are needed depending on where or what bank your sending too. The recipent can get this information to you by calling their bank.
To make matters worse lets throw in the electronic funds "wire transfers" or direct payment/interact/plus/cirrus systems. All of which operate on their own systems independant of the others.
DO NOT send checks in the mail!
Most institutions cannot cash these items as they have no way of verifying the funds electronically.
For example an item written on a us bank account may or may not be able to be cashed in canada even if the person in question has accounts at banks in both countries. Why? because there is no way to verrify funds. Sounds stupid I know but the banking laws of every country is way way way more weird than you think it is.
Hsbc or bank of hongkong. This institution is not recognized as a bank in more than one country. As such, due to banking laws, it's ability to process funds other than the host country is not allowed. Ie it cannot send wire transfers. Recieving them can be hit and miss.
As funny as this may sound the best way to send money to someone else that is fairly fast is by paying their visa credit card. Amex/mastercard ...these are not as accepted world wide as visa.
Bank Americard :)
It's funny that Bank Americard (now VISA) is the most recognized internationally :)
-Piper
HSBC etc
HSBC has a banking license in the USA as well as many other countries. Without it, it can't do any business in those countries. When I worked in the US, I had a bank account with HSBC simply because it was part of the same group as my UK Bank, Midland Bank. It made transferring money in each direction easier than between totally different banks.
A Banking license also means that the bank has to follow the laws of that country when dealing with transactions in that country. Therefore the Federal reporting limit applies to them just like it does with say, Wells Fargo or BOA.
S
btw
You do know that hsbc after being investigated only deals with business accounts now right?
Canada/US
I have very little problem depositing checks drawn on Canadian banks. And when I worked in Disneyland, we could accept a check from almost anywhere because Disney had a service that verified funds in something like 170 countries. There was a small fee for accepting such checks and another small fee for the currency conversion. It seems to me that the company running this for Disney was Thomas Cook of the UK.
Hugs,
Erin
= Give everyone the benefit of the doubt because certainty is a fragile thing that can be shattered by one overlooked fact.
hahaha just had to post this-
hahaha just had to post this---yet another Mouse house survivor---I did time at Disneyland back in 1988
but in in any case I use paypal and a credit card via it---done it dozens of times now real issues
Proud member of the Whateley Academy Drow clan/collective
I can sort it all out for you
My recently deceased Uncle was the Financial Director of the first BANK of Ouagadougou. My Terminal Cancer of the Small Toenails means that I have Funds and Opportunities and GOD has sent me your name, my dear one, to process this LEGACY. So, please are sending my Good Friend James Comey of the Federal Bureau of Investimentation you Full Name, Bank Account Number, IBAN, SORTment Code, Postal Address, PIN for your card, Social Security and Passport Numbers. This will be the way to allow your LEGACY of US$150,000,000 (One Hundred and Fifty Million US DOLLAR) to be added to this payment.
With dearest love and affection in the ALL MIGHTY
Michelle Obama
White House
Pennsylvania Avenue
PO Box 1351
Benin
so your the source
Of those pesky phishing emails!
I love to get these deceased relatives in countries that I have never had relatives in or bank accounts in banks that are not even in my country all the time.
Makes me lol as I send them off for investigating.
Back in 1995...
...when I was selling subscriptions to my newsletter and related products, I could take Canadian checks in U.S. funds without a problem. (Presumably the Canadian bank was doing all the work and charging their customer for it if needed.) But I got one check for $10 Canadian and discovered that Wells Fargo's charge for converting foreign checks was $10, so cashing it would have netted me nothing -- or less; the Canadian dollar was a lot stronger then than now but I don't think it was at par. (I'd sent the merchandise already.) I suppose the check's probably still in the house somewhere...
Not at all sure that matters any more -- that was before international transfers become completely automated, I think -- but if there's any question about it, I'd suggest making sure it's being transferred in U.S. dollars.
Eric
We had to deal with that sort
We had to deal with that sort of thing, as well as Canadian currency back when I was exchequer (treasurer) for a local SCA branch.
Our solution was to take them to the local branch of the Canadian Imperial Bank of Commerce. They'd take and give us Us currency for a small fee. And at the current exchange rate.
Being a Canadian bank doing business in the Us meant they were better set up for that sort of thing.
Brooke brooke at shadowgard dot com
http://brooke.shadowgard.com/
Girls will be boys, and boys will be girls
It's a mixed up, muddled up, shook up world
"Lola", the Kinks