Bank and Branch Number
The ‘bank number’ (also referred to as the interchange number) are the first two digits at the beginning of a bank account number, which tells us which bank the account resides with.
The ‘branch number’ is the next four digits in the account number, which tells us which branch of that bank the account is domiciled.
These numbers are used by the payment systems to direct payments to the appropriate Participants and customers.
A system used to settle payments between financial institutions.