Need Validations On 'Routing Transit Number' For Canada
(Doc ID 2480222.1)
Last updated on APRIL 02, 2019
Applies to:Oracle Fusion Cash Management - Version 18.104.22.168.0 and later
Information in this document applies to any platform.
Routing Transit Numbers needs to be inline with certain formats to facilitate EFT payments. The business needs to ensure that the 'Routing Transit Number' should obey format requirements of the bank.
Canadian Routing Numbers is a nine digits numerical codes used to identify an individual branch of a financial institution in Canada. It is used by Canadian Banks, Credit Unions and Trust Companies for Electronic Fund Transactions (EFT) within Canada.
We need a validation on the Routing Number used for domestic transfer. To make money transfer, the Routing Number is used together with the bank account number of the recipient. For international inward money transfer, a SWIFT code must be used together with a Routing Number and Account Number.
The format of Routing Transit Number is as follows :
Routing Number - 0AAABBBBB
• for the routing number, the first digit is the leading zero.
• AAA is three digits code identifying the institution.
• BBBBB is five digits code identifying the branch.
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