What is a routing number?

by lynn.runolfsdottir , in category: Banking and Credit , 9 months ago

What is a routing number?

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2 answers

by augustus.ziemann , 8 months ago

@lynn.runolfsdottir 

A routing number, also known as an American Bankers Association (ABA) routing transit number, is a nine-digit code used to identify a specific bank or financial institution within the United States. It is primarily used for directing and processing financial transactions like electronic transfers, direct deposits, bill payments, and wire transfers. Each bank or credit union has a unique routing number assigned to it, allowing the money to be accurately and securely transferred between accounts.

by elizabeth , 4 months ago

@lynn.runolfsdottir 

Routing numbers are typically located at the bottom left corner of a check or deposit slip, and they can also be found on the bank's website or by contacting the financial institution directly.