what is bank account routing number? (EXPLAINED)
Your bank account routing number could come in handy for various tasks, including setting up direct deposit, making online bill payments or transferring money between accounts. In addition, protecting this sensitive banking data requires as much vigilance as protecting account or debit card numbers.
Searching for a bank’s routing number might appear straightforward at first, but you could run into issues without paper checks as a guide. Fewer people rely on paper checks these days so an alternative approach may be required for you to ascertain your routing number.
Routing numbers – sometimes known as American Banker Association Routing Transit Numbers — are nine-digit unique identifiers used to identify the financial institution where an individual bank account resides. They combine with an account number to uniquely identify an American bank or branch location.
Contrary to account and debit card numbers, which are unique for each individual, banks’ routing numbers vary based on location and region – meaning a Texas account’s routing number will differ from California accounts as well as from Washington accounts even though all opening their checking accounts at the same financial institution.
There are multiple methods for searching bank routing numbers, but for best results it’s often best to contact the financial institution directly for details about an account. A bank’s website, mobile app, customer service number or telephone number often contain this data – however you could also use an American Bankers Association online routing number lookup tool as an approximate indication.
Routing numbers can usually be found printed on the bottom of personal checks. They consist of nine-digits that include your account number, check number and MICR (magnetic ink character recognition) line – essential components in processing checks by banks. In order to expedite payments more quickly it’s essential that these numbers are entered correctly every time a transfer or payment transaction occurs as errors could delay or block transactions or send your money elsewhere entirely – thus justifying keeping all your banking information updated at all times.