When the card is inserted into a reader, the chip checks that the fragments are present and undamaged, and if so returns an identification code.

ECONOMIST: MONITOR

The LEI is just a simple code but provides the first step of identification, she added.

FORBES: "Global" Bank Regulation -- Stranded in the U.S.?

The bank said customers should bring photographic identification and account details (account number and sort code) and a pay-slip if the balance did not reflect any salary payments.

BBC: Ulster Bank sign