BANK_TRANSIT_CODE is a mandatory 16-character alphanumeric field which stores the banking transit number which uniquely identifies the branch within the banking system.
The numbers located on the bottom of your check is called a MICR line. The MICR line is an acronym for Magnetic Image Character Recognition.
For Canadian Installations: The transit # is the format of ddddddddd where the first 4 digits identify the bank transit, while the last 5 digits identify the branch transit.
For American Installations: The MICR line consists of three elements; a routing transit number (also known as an ABA number or bank fraction number), an account number, and the check number.
The ABA number consists of three elements:
- 3 character bank transit
- 5 character branch transit
- 1 character check digit.
