Validating australian bank account numbers

Rather than adding up the other digits and calculating the valid checksum value for comparison, it's included in the total to save some programming steps.

In other words, if you had an eight-digit ABA number and wanted to find the correct checksum digit, you'd add those numbers as before.

The number may not, in fact, be assigned to any financial institution.

Note that even if a number passes this test, it does not necessarily mean that it is valid.

You can use a product's super product identification number (SPIN) as a USI.

The regulations state that a trustee must provide one electronic service address for each USI of an entity, which will be a gateway intermediary service as its end-point.

The USI allows monies to be paid to funds at the product or sub-fund level instead of fund level.

A fund is not limited by the regulations regarding the number of USIs it can nominate per registrable super entity.