IBAN imposes a flexible but regular format sufficient for account identification and contains validation information to avoid errors of transcription. One of the design aims of the IBAN was to enable as much validation as possible to be done at the point of data entry. For example, sorting code 00-00-00 would represent the main bank office, and the first subbank office registered would have the suffix 01.
The sort code, which is a six-digit number, is usually formatted as three pairs of numbers, for example 12-34-56. In some cases, the first digit of the sort code identifies the bank itself and in other cases the first 2 digits identify the bank.
Routing errors were therefore frequent causing payments to be delayed and incurred extra costs to the sending and receiving banks and often to intermediate routing banks also.
| Bank Name | Sort Code | City | Address & Info |
|---|---|---|---|
| ROYAL BANK OF CANADA | 600143 Equivalent Codes: 60-01-43 60 01 43 | London | QUEEN VICTORIA ST EC4V 4DE 71-71A QUEEN VICTORIA ST, EC4V 4DE, Phone: (20) 74891188, London England |
| ROYAL BANK OF CANADA | 404875 Equivalent Codes: 40-48-75 40 48 75 | St. Peter Port | ST PETER PORT GUERNSEY P.O. Box 48, Guernsey, C.I., GY1 3BQ, Phone: (1481) 723021, St. Peter Port England |