Payment Rails & Banking Basics
How money actually moves between banks — IBANs, SWIFT, routing numbers, and the payment networks behind every international transfer.
ACH, SEPA, Faster Payments, and SWIFT: how the world's payment rails actually compare
Every region has its own domestic payment rail, and they're not interchangeable. Here's a clear comparison of ACH, SEPA, Faster Payments, SWIFT, and the rest — speed, cost, and when each one applies.
UK sort codes and account numbers: how they work and when you need them
Sort codes are the UK's answer to a routing number. Here's how to read one, how it relates to Faster Payments, and what to use instead for international transfers.
US routing numbers and account numbers: what they mean and how to use them
The US doesn't use IBANs. Here's how the routing number and account number system actually works, and what you need alongside it for an international payment.
SWIFT and BIC codes explained: what they are and how to find one
SWIFT and BIC are the same thing wearing two different names. Here's what the code actually identifies, how to read it, and when you need it alongside an IBAN.
IBAN explained: what it is, how to read one, and when you need it
An IBAN looks intimidating but it's just an address for a bank account. Here's how to read one, check it's valid, and avoid the most common mistakes when paying overseas.