It identifies both the bank, and the branch where the account is held. Is the account number, bank code and country code combination compatible with the check digits?
In particular, the computer program that accepts an IBAN will be able to validate:
Is the country code valid?
A sort code is the name given by both the British and Irish banking industry to the bank codes which are used to route money transfers between banks within their respective countries via their respective clearance organizations. This often led to necessary routing information being missing from payments. Weekly updates ensure you have the most up-to-date UK payments information on the market.