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
Solved

connection between can & usa banks...

Posted on 2015-01-04
2
46 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
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 93

Accepted Solution

by:
John Hurst 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

Free Tool: ZipGrep

ZipGrep is a utility that can list and search zip (.war, .ear, .jar, etc) archives for text patterns, without the need to extract the archive's contents.

One of a set of tools we're offering as a way to say thank you for being a part of the community.

Question has a verified solution.

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

Originally published Entrepreneur.com Booming numbers of freelancing professionals are changing the face of work. In the United States alone last year, the number of workers freelancing grew from 700,000 to 54 million, according to a Freelancers’…
Stuck in voice control mode on your Amazon Firestick?  Here is how to turn it off!!!
The Bounty Board allows you to request an article or video on any technical topic, or fulfill a bounty request to earn points. Watch this video to learn how to use the Bounty Board to get the content you want, earn points, and browse submitted bount…
Articles on a wide range of technology and professional topics are available on Experts Exchange. These resources are written by members, for members, and can be written about any topic you feel passionate about. Learn how to best write an article t…

840 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