Post by Admin on Aug 29, 2018 17:28:34 GMT
The general rule for routing numbers is as follows:
[4 digit member code] [account number] : [4 digit member code] [account number] ¤ [amount]
All transactions must have two routing numbers, the account paying and the account receiving.
Here is an example: John is a depositor at Bank X, and their number is 4040; he pays Jane, a depositor at Bank Y (2020). John's account number is 06 4029, and Jane's account number is 30 0110.
The routing number for this transaction would therefore be as follows:
4040 06 4029 : 2020 30 0110 ¤ 300
Account numbers for depositors do not have to be this long. Individuals who are members of the Central Bank can simply use their 4-digit member code as an account number for transactions
[4 digit member code] [account number] : [4 digit member code] [account number] ¤ [amount]
All transactions must have two routing numbers, the account paying and the account receiving.
Here is an example: John is a depositor at Bank X, and their number is 4040; he pays Jane, a depositor at Bank Y (2020). John's account number is 06 4029, and Jane's account number is 30 0110.
The routing number for this transaction would therefore be as follows:
4040 06 4029 : 2020 30 0110 ¤ 300
Account numbers for depositors do not have to be this long. Individuals who are members of the Central Bank can simply use their 4-digit member code as an account number for transactions