It is a code of correspondent banks very similar to the international SWIFTsystem, which allows financial institutions to transmit and receive transaction information securely and in a standardized format. 👍

This code is useful when making a money transfer from the US. În every second a large number of withdrawals and deposits are made.

Most people use an electronic form of funds transfer on a regular basis for payments direct debit or automatic deposits of a pay cheque for example. 🌐

Without the International Routing Code , the money transfer process for individuals and businesses would be very slow and inefficient. 

Basically, it provides an electronic address for the bank to which the transfer is made. 😉