Ohio Code § 1304.63
Ohio Code § 1304.63. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1304.63.
(A)(1) Divisions (A)(2) and (3) of this section apply to a payment order identifying an
intermediary bank or the beneficiary's bank only by an identifying number. (2) The receiving bank may rely on the number as the proper identification of the intermediary
or beneficiary's bank and need not determine whether the number identifies a bank. (3) The sender shall compensate the receiving bank for any loss and expenses incurred
by the receiving bank as a result of its reliance on the number in executing or attempting
to execute the order. (B)(1) Divisions (B)(2) to (5) of this section apply to a payment order identifying an intermediary
bank or the beneficiary's bank both by name and an identifying number if the name
and number identify different persons. (2) If the sender is a bank, the receiving bank may rely on the number as the proper
identification of the intermediary or beneficiary's bank if the receiving bank, when
it executes the sender's order, does not know that the name and number identify different
persons. The receiving bank need not determine whether the name and number refer to the same
person or whether the number refers to a bank. The sender shall compensate the receiving bank for any loss and expenses incurred
by the receiving bank as a result of its reliance on the number in executing or attempting
to execute the order. (3) If the sender is not a bank, and the receiving bank proves that the sender, before
the payment order was accepted, had notice that the receiving bank might rely on the
number as the proper identification of the intermediary or beneficiary's bank even
if it identifies a person different from the bank identified by name, the rights and
obligations of the sender and the receiving bank are governed by division (B)(2) of
this section, as though the sender were a bank. Proof of notice may be made by any admissible evidence. The receiving bank satisfies the burden of proof it 1 it proves that the sender, before the payment order was accepted, signed a writing
stating the information to which the notice relates. (4) Regardless of whether the sender is a bank, the receiving bank may rely on the name
as the proper identification of the intermediary or beneficiary's bank if the receiving
bank, at the time it executes the sender's order, does not know that the name and
number identify different persons. The receiving bank need not determine whether the name and number refer to the same
person. (5) If the receiving bank knows that the name and number identify different persons,
reliance on either the name or the number in executing the sender's payment order
is a breach of the obligation as provided in division (A)(1) of section 1304.69 of the Revised Code . 1
So in original; should this read “if”?
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1304.63
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Ohio attorney.
Common questions
What is the source of Ohio Revised Code § 1304.63?
The text above is transcribed from the Ohio Revised Code, the codified statutes of Ohio. The official publisher link appears under "Verify the text" on this page.
What subject does Ohio Revised Code § 1304.63 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Ohio Revised Code § 1304.63 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Ohio source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Ohio law to your facts requires a licensed Ohio attorney who can review the specifics.