Text 5072, 66 rader
Skriven 2010-02-21 12:05:40 av Peter Knapper (3:772/1.0)
   Kommentar till text 5059 av Ward Dossche (2:292/854)
Ärende: Re: Banking
===================
Hi Ward,

 WD> It's even simpler here. My bank-account is 001-1595205-
 WD> 19 ... that's all anyone needs to know. No bank-, 
 WD> branch- or whatever stuff.

I suspect this is why NZ is different, Account numbers here are unique within
BANK, however for some reason back in the 1960's the NZ Banks decided to
implement a BRANCH number into the format, hence why the US Cheque READING
machines (IBM 1419's and 3890's) that we used required customised code to
process them. Our Codeline format uses AA-BBBB-CCCCCCC-DDD

A = BANK code (we currently have about 16 registered TRADING banks in NZ)
B = BRANCH number (this is used for physical document Routing within the NZ    
    banking environment).
C = Account Code (For general user accounts, this is unique within BANK in NZ,
however "Bank General Ledger acounts" use "special" account codes that are
common within the various Bank Branches.) This is why the BRANCH code is also
required to complete a transaction here.
D = Account Suffix (this identifies the type of account, be it a savings
account, home loan account, a transaction account, etc...)

Using that codeline I can send money to any NZ acccount. So a typical codelne
might read -
        02 0290 0123456 001
02 = Bank of NZ,
0290 is the Cnr Queen and Victoria St, Auckland, Branch of the BNZ
0123456 is the Customer account number (includes a modulas 7 Check digit
number) NOTE: the account number quoted probably does NOT have a valid Check
digit applied.....;-)
001 is the account type, and 001 is usually a transaction account, however this
can vary by Bank. Suffix's of 500 or over are usually Savings accounts, however
use now seems variable, with some home loans using <500 and some using >500
depending on TYPE of home loan.

WD>> I can initiate any international transfer to any bank
WD>> in any country that subscribed to the system
WD>> electronically and if I enter all the numbers and codes
WD>> correctly then there is no fee.

PK> NZ Banks do not DIRECTLY subscribe to the IBAN system themselves, they
PK> use "agent" banks in other countries for that, 
PK> however my experience has
PK> revealed that its not at all easy for private 
PK> persons to access this. To
PK> us, it seems designed more for large commercial 
PK> transactions than private
PK> consumer use...

 WD> IBAN works lovely. The related screen is pulled-up at 
 WD> my bank's site, fill-in and hit the "send" button.

I now suspect our codeline format & use complicates automated use of the IBAN
format,hence why its use is not comoomon here........;-( We have similar
information availabe, but the NZ format is more "variable" in the way it is
used INTERNALLY to NZ Banks.

All quite interesting once one understands HOW things are used. All NZ Code
line formats were set up in the 1960's when computing became the basis for the
NZ Banking system...

Cheers............pk.


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 * Origin: === Maxie BBS.  Ak, NZ +64 9 444-0989 === (3:772/1)