|
Sort Code
Sort codes are the domestic bank codes used to route money transfers between financial institutions in the United Kingdom, and in the Republic of Ireland. They are six-digit hierarchical numerical addresses that specify clearing banks, clearing systems, regions, large financial institutions, groups of financial institutions and ultimately resolve to individual branches. In the UK they continue to be used to route transactions domestically within clearance organisations and to identify accounts, while in the Republic of Ireland (a founder member of the Euro) they have been deprecated and replaced by the SEPA systems and infrastructure. Sort codes for Northern Ireland branches of banks (codes beginning with a '9') were registered with the Irish Payment Services Organisation (IPSO) for both Northern Ireland and the Republic. These codes are used in the British clearing system and historically in the Irish system. The sort code is usually formatted as three pairs of numbers, for ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Code
A bank code is a code assigned by a central bank, a bank supervisory body or a Bankers Association in a country to all its licensed member banks or financial institutions. The rules vary to a great extent between the countries. Also the name of bank codes varies. In some countries the bank codes can be viewed over the internet, but mostly in the local language. The (national) bank codes differ from the international Bank Identifier Code (BIC/ISO 9362, a normalized code - also known as Business Identifier Code, Bank International Code and SWIFT code). Those countries which use International Bank Account Numbers (IBAN) have mostly integrated the bank code into the prefix of specifying IBAN account numbers. The bank codes also differ from the Bank card code (CSC). The term "bank code" is sometimes (inappropriately) used by merchants to refer to the Card Security Code printed on the back of a credit card. Europe * Belgium has a national system with account numbers of 12 digits. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Bank Account Number
The International Bank Account Number (IBAN) is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors. An IBAN uniquely identifies the account of a customer at a financial institution. It was originally adopted by the European Committee for Banking Standards (ECBS) and since 1997 as the international standard ISO 13616 under the International Organization for Standardization (ISO). The current version is ISO 13616:2020, which indicates the Society for Worldwide Interbank Financial Telecommunication (SWIFT) as the formal registrar. Initially developed to facilitate payments within the European Union, it has been implemented by most European countries and numerous countries in other parts of the world, mainly in the Middle East and the Caribbean. As of May 2020, 77 countries were using the IBAN numbering system. The IBAN consists of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elavon Financial Services
Elavon Inc., formerly NOVA, is a processor of credit card transactions and a subsidiary of U.S. Bancorp. Elavon offers merchant processing in more than 30 countries and supports the payment needs of more than 1,000,000 merchant locations across the globe. Elavon is the 4th largest U.S. credit card processor and is a top 6 acquirer in the European marketplace. History In May 2000, Nova Corporation and the Bank of Ireland announced the formation a joint venture in Dublin, Ireland, to be called EuroConex Technologies which would process card payment throughout Ireland and eventually the rest of Europe. In May 2001, U.S. Bancorp announced the acquisition of NOVA Corporation for $2.1 billion in stock and cash. In 2004, NOVA announced that EuroConex was to buy Polish processor "CardPoint" from "Bank Zachodni WBK", owned by Allied Irish Banks, This move allowed Bank Zachodni WBK to "sponsor" Euroconex's operations in Poland. NOVA announced deals with the Spanish Banco Santander, and t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
LCH (clearing House)
LCH (originally London Clearing House) is a British clearing house group that serves major international exchanges, as well as a range of OTC markets. The LCH Group consists of two subsidiaries: LCH Ltd (based in London) and LCH SA (based in Paris). Based on 2012 figures, LCH cleared approximately 50% of the global interest rate swap market, and was the second largest clearer of bonds and repos in the world, providing services across 13 government debt markets. In addition, LCH clears a broad range of asset classes including: commodities, securities, exchange traded derivatives, credit default swaps, energy contracts, freight derivatives, interest rate swaps, foreign exchange and Euro and Sterling denominated bonds and repos. LCH's members comprise many of the major financial groups including almost all of the major investment banks, broker dealers and international commodity houses. LCH, being a clearing house, sits in the middle of a trade assuming the counterparty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revolut
Revolut is a British financial technology company that offers banking services, but did not have a UK banking licence. Headquartered in London, it was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. It offers accounts featuring currency exchange, debit cards, virtual cards, Apple Pay, interest-bearing "vaults", commission-free stock trading, crypto, commodities, and other services. Revolut has expanded into new markets such as Japan and expanded staff from 1500 to around 5000. In November 2020 it was breaking even and, with a £4.2 billion valuation became the UK's most valuable fintech company. In January 2021 it applied for a UK banking licence. A US$800 million funding round in July 2021 brought the company's valuation to US$33 billion, making it the most valuable UK tech startup at the time. Since Revolut does not have UK bank status, it does not reimburse victims of authorized push payment fraud. History Revolut was founded on 1 July 2015 by Nikolay Storonsky ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Starling Bank
Starling Bank () is a British digital challenger bank which provides current and business accounts. Starling Bank is a licensed and regulated bank, founded by former Allied Irish Banks COO, Anne Boden, in January 2014. Since its founding, it has received over £500m of funding. The company received its banking licence from the Prudential Regulation Authority and the Financial Conduct Authority in July 2016. History Starling was founded by Anne Boden in 2014. In 2016, they raised £48 million. In February 2019 Starling raised £75m from Merian Global Investors. The following week, the company announced it had raised £100m from the Capability and Innovation Fund in the form of grant funding. The company launched its beta in March 2017. In March 2018, Starling launched business accounts. In February 2019, Starling launched personal Euro accounts in the UK. At first, Starling customers could make fee-free conversions between the Starling GBP account and Euro account, but in S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
N26 (bank)
N26 (known as ''Number 26'' until July 2016) is a German neobank headquartered in Berlin, Germany. N26 was founded in 2013 in a Rocket Internet Incubator and currently operates in various member states of the Single Euro Payments Area (SEPA). It provides a free basic current account and a debit card, with overdraft and investment products and premium accounts available for a monthly fee. History The company was founded as a financial technology startup in 2013 by Valentin Stalf and Maximilian Tayenthal. According to Stalf, the name is derived from number of smaller cubes in a complete Rubik's Cube, since a 3x3x3 cube has 26 individual visible cubes (27 less 1 hidden). In April 2015, N26 received €10 million in a series A round by Valar Ventures. Initially, Number 26 started operations without holding a banking license; instead, it was provided an interface to a back end provided by Wirecard. In July 2016, it re-branded as N26 Bank, having received its own banking license ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monzo (bank)
Monzo Bank Ltd () is an online bank based in the United Kingdom. Monzo was one of the earliest of a number of new app-based challenger banks in the UK. Originally operating through a mobile app and a prepaid debit card, in April 2017 its UK banking licence restrictions were lifted, enabling it to offer a full current account. As of July 2022, Monzo had over 5.8 million customers. Their most recent financial results issued in July 2022, showed an annual net loss of £119M (an increase from the £116.2M lost in the previous year) on revenue of £154.2M. History Monzo Bank was founded as Mondo in 2015 by Tom Blomfield, Jonas Huckestein, Jason Bates, Paul Rippon and Gary Dolman. The team originally met whilst working at Starling Bank. In February 2016, Monzo set the record for "quickest crowd-funding campaign in history" when it raised £1m in 96 seconds via the Crowdcube investment platform. Two weeks prior to the name change, Monzo was granted a restricted banking licence ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
