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Understanding Bank Accounts
Updated over 2 months ago

Advance Bank Account

The Advance Bank Account must be one which was provided during the application process.

Loan Amount Bank Account

The Loan Amount Bank Account must be one which was provided during the application process.

Bank Account Number

In the United States, a Bank Account Number is the unique number 8-12 digits long that identifies your account.

In Canada, a Bank Account Number is the unique number 5-12 digits long that identifies your account.

IBAN

In Europe, an IBAN (International Bank Account Number) is an internationally-agreed code consisting of up to 34 letters and numbers, which helps banks make sure that transfers are processed correctly. The IBAN consists of the country letter code, check digits, bank code, and bank account number.

SWIFT/BIC code

Your SWIFT/BIC code is an 8-11 character long, standard format code that identifies banks and financial institutions worldwide.

Bank Fedwire routing number

In the United States, this nine-digit number, also known as the ABA routing number (referring to the American Bankers Association), is used to identify financial institutions within the United States. ABA numbers typically start with two digits between 00 and 12.

ACH (Automated Clearing House) Routing Numbers

This is also a nine-digit number used to identify financial institutions within the United States. It may be the same as the Bank Fedwire routing number, depending on the bank, but sometimes they differ. We recommend checking with your online banking platform or contacting your bank to confirm.

If your bank uses a specific ACH number, it could begin with digits between 61 and 72.

Account holder

This must match the name of the bank account. The bank account must be a business account, not personal.

Direct Debit / Pre-Authorized Debit Bank Account

This bank account must be one that was provided during the application process.

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