Still celebrating National IT Professionals Day with 3 months of free Premium Membership. Use Code ITDAY17

x
?
Solved

connection between can & usa banks...

Posted on 2015-01-04
2
Medium Priority
?
51 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 97

Accepted Solution

by:
John Hurst earned 2000 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

On Demand Webinar: Networking for the Cloud Era

Did you know SD-WANs can improve network connectivity? Check out this webinar to learn how an SD-WAN simplified, one-click tool can help you migrate and manage data in the cloud.

Question has a verified solution.

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

One of the biggest challenges facing freelancers is balancing multiple projects and deadlines. Organizational skills and time management are key to keeping up with projects and staying on track. Luckily, we’ve curated seven tools to help you focus o…
I've been asked to discuss some of the UX activities that I'm using with my team. Here I will share some details about how we approach UX projects.
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…

722 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