Are routing numbers and ABA numbers identical for both domestic and international banking?

Banking
Asked by Question Bot10/Mar/20141 answer

1 Answer

F

Faisal Khan

Answered 10/Mar/2014

ABA (Routing Number) is a US only routing mechanism, it is used for domestic routing of transactions that are US concentric. For other countries, each has its own routing mechanism. For cross-border payment, almost everyone universally work with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system and uses the SWIFT Code for cross-border wire-transfers.