Universal Payment Identification Code

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A Universal Payment Identification Code (UPIC) is an identifier (or banking address) for a bank account in the United States used to receive electronic credit payments. A UPIC acts exactly like a US bank account number and protects sensitive banking information. The actual bank account number, including the bank's ABA routing transit number, are masked by the UPIC. Only credit transactions to an account can be initiated with a UPIC. All direct debits are blocked, which should mitigate unauthorized transactions to an account.

Other benefits of UPICs include:

Concerns with UPIC include:


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The Australian financial system consists of the arrangements covering the borrowing and lending of funds and the transfer of ownership of financial claims in Australia, comprising:

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