Exact Answer: 9 to 18 digits
A bank account is a type of financial account kept by a financial organization. The consumer can make deposits and withdrawals from his or her account. The functions, on the other hand, are dependent on the account’s type.
During various banking tasks, banks provide many types of accounts. A savings account, an overdraft account, a current account, a credit card account, a loan account, or a time deposit account are all examples of types of bank accounts.
The identification of your bank account is your account number. This is a one-of-a-kind account number that cannot be shared by any two banks or account users. For simple segmentation, banks utilize various branch beginning codes.
How Long Are Bank Account Numbers?
| Types of banks | Bank account numbers |
| Indian bank | 9 digits |
| ICICI bank | 12 digits |
| Canara bank | 13 digits |
A bank account number establishes a connection between a consumer or an organization and a financial institution. In allocating account numbers to its clients, the banks do not follow any universal format or standard, and each bank has designed its structure with lengths ranging from 9 to 18 digits.
The account number must be unique due to digitalization and the government of India’s digital drive. The amount of numbers changes depending on the number of accounts because various banks use different methodologies. Every branch now has an IFSC number in alphanumeric code to make it distinctive. The alphabets represent the bank’s name, while the digits represent the branch number.
All bank account numbers now begin with the numeric digits of the branch, followed by additional digits. When the number of accounts exceeds the capacity of the digits, add zeros after the branch code to permit extra accounts. As a result, some numbers in the account number vary from bank to bank. As subsequent branches begin activities, the branch’s numeric number digits can be modified by adding zeros to the front.
The two most used core banking products in India are BaNCS and Finacle. BaNCS produces random numbers for newly formed accounts, with no information about branches or goods. Finacle uses a serial format to create account numbers.
BB-bbbb-AAAAAAA-SSS is the most common format for account numbers. Where B is the bank (2 digits), b denotes the branch (4 digits), A denotes the account (7 digits), and S denotes the suffix digits (2 or 3 digits).
A full account number is required for any bank to make a successful money transfer. In addition to account numbers, IFSC codes and MICR codes are also important for remittances. When receiving bank transfers from people you know, such as friends, family, and employers setting up a direct debit; or communicating with a member of the suits my customer service team, account details are required.
Why Bank Account Numbers Are So Long?
The length of a bank account number is long because it identifies the branch, the kind of account, and the customer. Because every bank is distinct, and no two banks are the same. Each bank has its own set of processes, regulations, policies, and methods of operation.
The majority of bank account numbers contain 8 to 12 digits, however, they can range from 5 to 17. Financial organizations may utilize multi-factor identification, two-step verification, and other security procedures to safeguard account numbers against fraud.
The account number acts as the bank account’s fingerprint. Although it does identify the account holder, it is also linked to other information. For instance, physical address, phone number, email address, account age, and account balance are all examples.
Multiple accounts, each with its account number, can be held by a single person. If a bank merges or is acquired by another bank, the account number may change. Any account modifications are required by law to be notified to account holders.
Conclusion
Account numbers are alphanumeric sequences that uniquely identify a bank account. Clients are permitted to have several accounts, each with its account number. The account number appears in the bottom right corner of a paper check as a string of 5-17 digits. Don’t share your bank account information with strangers.
References
- http://seclab.illinois.edu/wp-content/uploads/2015/03/Demetriou+15.pdf
- https://www.sciencedirect.com/science/article/pii/S0378426608000976
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