First of all, RoutingNumber, also known as remittance route number, is a specific logo stipulated by American Bankers Association (ABA), with 9 digits. For Canadian banks, their ANumber in the United States is RoutingNumber, which is an important symbol for them to identify and handle cross-border transactions.
Secondly, SwiftCode is a widely used bank code in the world, which is used for communication between banks in the SWIFT system. It not only represents the identity of banks in the global SWIFT network, but also is the basis of most banking business.
SwiftCode has the following notable features:
1. Membership requirements: Most professional banks in China are members of the SWIFT system, which means that this system can be used for international transfer.
2. Cost performance: Compared with telex and telegram, the cost of SWIFT is lower, about 18% of telex and 2.5% of telegram.
3. High security: SWIFT's encryption technology and automation make it more confidential and reliable in information transmission.
4. Standardized format: SWIFT messages have unified requirements and formats, which makes information exchange more accurate and convenient.
Therefore, if overseas remittance is made in China Merchants Bank, it is very important to ensure that SwiftCode and RoutingNumber are provided simultaneously. These two codes are indispensable, otherwise the remittance operation cannot be carried out smoothly.