Bank Code Bank Code Types

Question 1

What does ABA stand for in the context of US bank codes?

Accepted Answer

American Bankers Association

Answer

American Banking Association

Answer

Automated Banking Authority

Answer

Associated Bank Administrators

Question 2

How many digits does a standard US ABA routing number contain?

Accepted Answer

9

Answer

8

Answer

10

Answer

12

Question 3

What type of bank code is used for international wire transfers to and from US banks?

Accepted Answer

SWIFT/BIC code

Answer

ABA routing number

Answer

IBAN

Answer

ACH number

Question 4

Which bank code format does the United States NOT use for domestic transactions?

Accepted Answer

IBAN

Answer

ABA routing number

Answer

ACH routing number

Answer

Wire routing number

Question 5

What is a SWIFT code's standard length for most banks?

Accepted Answer

Either 8 or 11 characters

Answer

6 characters

Answer

8 characters

Answer

11 characters

Question 6

What is the primary purpose of a Federal Reserve routing symbol (first 4 digits of an ABA number)?

Accepted Answer

To identify the Federal Reserve district and bank type

Answer

To identify the bank's state

Answer

To indicate the bank's asset size

Answer

To specify the account type