Is the routing number for ACH the same as for wires?
Not always. The Federal Reserve's E-Payments Routing Directory lists FedACH and Fedwire participants separately, and some banks give different routing numbers for each. Ask your bank, or your provider, which number to use for which rail before you put it on an invoice.
The wider picture
The key points from the guide this answer comes from:
- An IBAN or an account number identifies an account. A SWIFT code, or BIC, identifies a bank. Payments from abroad usually need one of each.
- US accounts have no IBAN. Payers in the US use the nine-digit routing number and the account number; payers abroad use the bank's SWIFT code and the account number.
- UK payers use the six-digit sort code and the eight-digit account number. Payers abroad use the UK IBAN, which contains both, and the BIC.
- Within SEPA, an IBAN and the payee's name are enough. The payer's bank can still ask for the BIC when either bank is in a non-EEA SEPA country, such as the UK or Switzerland.
More questions on this
- Is a SWIFT code the same as a BIC?
- Does the US use IBANs?
- What do I give a customer who wants to pay me in euros from the UK?
The full guide
An IBAN or account number identifies your account; a SWIFT code (BIC) identifies your bank. Payers in the US use a routing number and payers in the UK a sort code; payers abroad use an IBAN or account number with a SWIFT code.
Read SWIFT code vs IBAN vs routing number: which details do you need to get paid?, with its sources.
General information, not legal, tax or financial advice. Rules and providers' terms change; check the sources in the guide and take advice on your own situation.
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