Non-cash payments in the U.S. are rapidly increasing, with volumes at unprecedented levels. At the same time, customers expect payments to be fast, seamless, and convenient.
Incorrect, incomplete or outdated ABA routing numbers lead to failed payments which can place your customers in a difficult position when they rely on you the most. A failed ACH or Wire transaction not only impacts your profitability; it could mean an employee waiting for a crucial paycheck, someone missing their closing date on a new home, or a critical project being delayed due to lack of funds. With each failed payment costing $12.00 USD on average , inaccurate data puts your company at risk of reputational damage, customer loss, and significant financial setbacks.
The LexisNexis® Bankers Almanac® Routing and Transit Number (RTN) File facilitates efficient banking information searches for setting up, investigating and correcting payments. An essential tool for U.S. payment professionals, it provides up-to-date data on financial institutions and payment routing details for nearly 10,000 U.S. financial entities and more than 100,000 branches and locations.
Originating ACH Transactions: Detailed ACH routing number data, including ACH Routing Numbers, ACH Status, Origination Status, and Override Numbers reduces costly errors associated with failed ACH transactions.
Wire Transactions: Detailed Wire routing number data, including Fedwire Routing Numbers, Fedwire Status, and Fedwire Correspondent Routing Numbers supports your ability to execute straight-through processing.
Onboarding New Customers or Suppliers: Prevent expensive business disruptions due to issues with customer or supplier relations by ensuring accurate banking information for new customers and critical suppliers.
Maintaining accurate core banking data: Minimize time spent on manual searches and validations by maintaining near real-time routing code data within your core banking system.
Keeping Employee Account Records Updated: Ensure that your employees have the assurance of receiving their paychecks promptly by maintaining accurate and up-to-date routing number information.
The file includes:
- Detailed coverage of US ABA routing numbers
- Complete data for more than 100,000 branches and offices
- Detailed ACH Routing Data
- Detailed Wire Data
- ABA to SWIFT/BIC pairings
- Contact information for institutions
- Linkage to main branches
Available for delivery daily or monthly, depending on your specific needs.