TEST KEY

A code used in transferring funds by cable or telephone so that the recipient may authenticate the message. A test key generally consists of a series of numbers, including a fixed number for each correspondent bank, a number for the type of currency, a number for the total amount, and possibly numbers for the day of the month and the day of the week. A single number code indicates whether the total amount is in thousands, hundreds, tens or digits. To arrive at a test number, the indicated numbers are totaled, and the total amount usually precedes the text of the message.