Solved

connection between can & usa banks...

Posted on 2015-01-04
2
49 Views
Last Modified: 2015-01-11
http://www.openbsdfoundation.org/banktransfer.html

is there a connection between the usa bank and can?
0
Comment
Question by:25112
[X]
Welcome to Experts Exchange

Add your voice to the tech community where 5M+ people just like you are talking about what matters.

  • Help others & share knowledge
  • Earn cash & points
  • Learn & ask questions
2 Comments
 
LVL 5

Author Comment

by:25112
ID: 40530545
the background is someone has given the cad bank for direct deposit but has given usa wells fargo bank swift as the swift.. is that error or logical?

the direct deposit originates in usa and is going to CIBC in Canada... but swift has been given as PNBPUS3NNYC, though.. should there be panic that this will fail? is this two banks interrelated on design/purpose?
0
 
LVL 96

Accepted Solution

by:
Experienced Member earned 500 total points
ID: 40530551
Canadian Banks are independent of US Banks. Because there is so much commerce (and so money) between the two countries, a routing code is used. You see the routing code on the second half of the page you referenced.

If I have a US account in a Canadian Bank, the MICR encoding will include a routing code.

The top half of the form is generalized but transfers do using it (international) take longer.
0

Featured Post

[Webinar] How Hackers Steal Your Credentials

Do You Know How Hackers Steal Your Credentials? Join us and Skyport Systems to learn how hackers steal your credentials and why Active Directory must be secure to stop them. Thursday, July 13, 2017 10:00 A.M. PDT

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

CSS is a visual language used to classify objects and define rules about how they should be displayed. CSS skills aren’t restricted to developers anymore, there is a big benefit to having a basic understanding of the language, regardless of your occ…
Stuck in voice control mode on your Amazon Firestick?  Here is how to turn it off!!!
Saved searches can save you time by quickly referencing commonly searched terms on any topic. Whether you are looking for questions you can answer or hoping to learn about a specific issue, a saved search can help you get the most out of your time o…
Where to go on the main page to find the job listings. How to apply to a job that you are interested in from the list that is featured on our Careers page.

627 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question