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Format of Nedbank Private Wealth Limited Sort Code
Nedbank Private Wealth Limited or any banks in UK Sort code is a six-digit number, is usually formatted as three pairs of numbers, for example 12-34-56.
The Structure is-
4 | 0 | X | X | X | X |
Identify Bank | Branch Location | ||||
* In some cases the first digit of the UK sort code identifies the bank itself.
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SWIFT Code FinderGeneral Information About UK Bank Sort Code
What is UK Bank Sort Code?
A UK SORT Code is a six-digit numerical code, which is used to identify the particular UK bank branch location of the bank where the account is held. The allocation of sort codes is managed by Bacs Payment Schemes Limited (BACS). UK Sort codes are encoded into International Bank Account Number (IBAN), but are not encoded into Business Identifier Codes (BIC).
Structure of the UK Sort Code
UK Sort Code is a six digits unique code & this code is formatted into three pairs which are separated by hyphens, as an example: 12-34-56. The first 3 digits is bank code & last 4 digits is an unique identifier number for the particular bank or financial institution branch. This code identifies both the bank / financial institution (in the first two digits or in some cases in the first digit) and the branch where the account is held.
Example: Breakdown of UK Sort Code
1 | 2 | 3 | 4 | 5 | 6 | 7 |
Identify Bank | Branch Location | |||||
Where are UK Sort Codes used?
UK Sort Code is used to recognise where a payment originates & confirm it is being sent to a valid bank/financial institution and verify that institution can accept the payment type. The sort code is also used to route the payment to the correct organisation and identify who will settle the payment. It is therefore essential to the functioning of the payment systems.