Bank Code Bank Code Usage

Question 1

When setting up direct deposit for a US paycheck, which two pieces of information are always required?

Accepted Answer

ABA routing number and account number

Answer

SWIFT code and account number

Answer

IBAN and BIC code

Answer

Bank name and branch address

Question 2

For a domestic US wire transfer, which routing number should you provide?

Accepted Answer

Wire transfer routing number

Answer

ACH routing number

Answer

SWIFT code

Answer

MICR number

Question 3

When paying a US bill online via bank transfer, which routing number format is typically used?

Accepted Answer

ACH routing number

Answer

Wire transfer routing number

Answer

SWIFT code

Answer

CHIPS routing number

Question 4

To receive an international wire transfer into a US bank account, what code does the sender typically need?

Accepted Answer

SWIFT/BIC code (and sometimes IBAN)

Answer

ABA routing number only

Answer

ACH routing number

Answer

CHIPS UID

Question 5

Which code is required when making a payment via Venmo or Zelle that is linked to a bank account?

Accepted Answer

ABA routing number and account number are linked during setup

Answer

SWIFT code

Answer

IBAN

Answer

No bank codes are needed

Question 6

What happens if you provide the wrong routing number when setting up a direct deposit?

Accepted Answer

The payment may be rejected, delayed, or deposited into the wrong account

Answer

The deposit is automatically returned and re-sent

Answer

The bank will call you to confirm before processing

Answer

Nothing — routing numbers are not validated