What is an account number?

Account numbers are unique identifiers used to track individual bank accounts.

Account numbers tend to include a combination of letters and/or numbers. In the context of global payroll, account numbers may be formatted in specific ways to meet local regulations and banking requirements.

Where do I find my account number?

Statements

An account ID number appears on the account holder’s monthly bank statement.

Bank branch

Account holders can also get their account number by visiting their bank branch.

Checks

If account holders have a checking account, the account number is printed on their paper checks between the bank’s routing number and the check number.

Online account

Account owners can log into their bank’s website and find their account number in the account details section.

Welcome Letter

The bank account number is often included on the welcome letter or card the bank sends upon opening an account.

How a bank account number works

The bank account number and routing number identify the bank or financial institution. Together, these numbers ensure that funds go into or out of the right account. A bank checking account number is on the bottom of a paper check. There are three sets of numbers at the bottom of the check:

• The first set of numbers is the nine-digit bank routing number
• The middle numbers are the account number
• The third number represents the check number

Payroll teams use checking account numbers to set up direct deposit payments for employees.

Account number vs. routing number

Routing number (aka ABA routing number)

• Nine-digit code
• Identifies financial institution holding a particular account
• Used for electronic transactions (direct deposit, wire transfers, automated bill payments)

Account number

• Unique identifier assigned by a bank to an individual account holder.
• Identifies and tracks the account
• Required for transactions like deposits, withdrawals, or transfers

Is an IBAN the same as an account number?

No, an IBAN (International Bank Account Number) is not the same as an account number. The IBAN is used for international payments and has information that helps overseas banks identify your account when making or receiving transfers. Main differences:

• An IBAN is an additional number that includes the account number, plus the country code and bank code.
• The IBAN is used for international payments, while the account number for banking is used for domestic transactions.
• Not all bank accounts have an IBAN. The US, for example, uses routing numbers and SWIFT/BIC codes for international transfers.

What is an example of an account number?

An account number could look like this: 1234567890.

How long Is a bank account number?

A payment account number is typically 8 to 12 digits long.

Payment distribution platforms for global workforce

Companies with global workforces face their own hurdles with account numbers, including figuring out how to smoothly track accounts across different countries and avoiding fees associated with currency conversion and bank charges.

Here are some of the challenges companies can find themselves facing when they need to keep track of employee account numbers in more than one country:

Format variation

Account number formats tend to differ quite a bit country to country. Figuring out how to create a standard for cross-country accounts is a major obstacle companies need to face to avoid errors or delays.

Regulatory compliance

Different countries have different requirements and regulations surrounding account numbers. Figuring these out and keeping and always them top of mind can be time-consuming and increase the risk of errors and fees.

Incomplete or inaccurate account information

Incomplete or inaccurate account information can result in transaction errors and payment delays. For businesses with global workforces, this challenge can be even more difficult to navigate. It requires finding a payroll management method that answers this challenge efficiently and effectively.

Here’s where global payroll distribution platforms can come in especially handy. They can offer services and tools designed to solve the above-mentioned challenges, including:

• Standardizing account number formats across different countries
• Offering expertise in international compliance standards and requirements associated with account numbers
• Integrating with other platforms to ensure seamless tracking of account numbers