The checksum enables the initiator of any transaction to perform a sanity check of any specified bank account number on their own computer prior to actually initiating a request. The Payments Council has also introduced a best practice recommending businesses and banks refresh their reference data weekly; whilst smaller businesses should ensure their data is updated at the very least on a monthly basis.
More of us are using automated payments, whether that means making an internet payment via our online banking or using a Direct Debit to pay a regular bill. Before IBAN, users, especially individuals and small businesses (SMEs), used to be confused by the differing national standards for bank account identification such as bank, branch, routing codes and account number.
| Bank Name | Sort Code | City | Address & Info |
|---|---|---|---|
| CREDIT AGRICOLE INDOSUEZ | 501032 Equivalent Codes: 50-10-32 50 10 32 | London | 52-62 BISHOPSGATE 122 LEADENHALL ST, EC3V 4QH, Phone: (20) 79714000, London England |