Although there is a strong correlation between BIC Codes and sort codes, sort codes are not explicitly encoded into BIC codes.
Many European countries use the IBAN as a means of identifying bank account numbers, but transfers to, amongst others, the United States and Australia make use of the BIC Codes. The top bar contains an alphabetical list of Top 500 clearing houses. The British and Irish sort codes are only used for domestic money transfers. All paper instruments presented to the clearinghouse must be MICR-encoded. 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 organisations.