An account number is a unique sequence of digits assigned to an individual bank account, used to identify and facilitate accurate routing of financial transactions to that account. This number is essential for performing various banking activities such as deposits, withdrawals, transfers, and electronic payments. Account numbers can vary in length and format depending on the financial institution and the country. They are often used in conjunction with other identifiers, such as sort codes, routing numbers, or IBANs, to ensure that transactions are processed correctly and efficiently. By providing a unique identifier for each account, account numbers help maintain the integrity and organization of the banking system, allowing for precise and secure management of funds.
