If you've ever written a check, you’ve probably noticed the string of numbers along the paper’s bottom edge. Show
Just like you have a Social Security number to help identify you, your bank account has a unique routing number that sets it apart from other financial institutions. What is a routing number?Your bank's routing number is a nine-digit number that identifies your
bank as a member of the American Bankers Association (ABA). Sometimes also called routing transit numbers, routing numbers are publicly available and serve as indicators of a bank's quality and legitimacy. They're only issued to federal or state-chartered financial institutions eligible to maintain an account at the Federal Reserve Service, the United States central banking system. By attributing a unique identifier to each bank, ABA routing numbers also help
clearing houses streamline check clearances and authenticate transactions between different financial institutions or between financial institutions and their customers. The routing number specifies the state or branch where your account was opened and ensures deposits and withdrawals are made to and from the correct institution. No two banks have the same routing
number. However, some banks may use several different routing numbers for different types of accounts or transactions. For example, your checking account may have one routing number for wire transfers, another for ACH deposits, and a third for sending checks. Where is the bank routing number located on a check?Your bank's routing number is usually the first set of numbers located in the lower-left corner at the bottom of your check. It consists of nine
digits altogether — the symbols surrounding the numbers are not part of the routing number. And remember, the routing number isn't the only number found on your checks. You'll also find your bank account number and the check number. Your account number usually follows the routing number on the same line and is written in the same typeface for electronic scanners. The check number comprises three or four digits and identifies each check in your checkbook. It may also be at the bottom of the check on the same line as the account and routing numbers. Check numbers help track payments. What is the difference between a routing number and an account number?Your routing number and account number both serve the purpose of identifying your account, except at different levels of specificity. The routing number identifies the bank, while your account number identifies your specific account at that bank. You can think of them like your postal code and street address, respectively. Collectively they work in tandem to pinpoint where you live. What is the account number on a debit card?Credit and debit cards don't have routing numbers. And although the number on your card is sometimes called the primary account number (PAN), it is not the same as your actual bank account number. Instead of your bank's routing number, the first six digits on your debit or credit card are the major industry identifier (MII) and the issuer identification number (IIN). These precede your card's account number, which, again, is different from your actual account number. The last digit on your card is the checksum number, which helps prevent fraud. Where else can I find my bank's routing number?Routing numbers are easy to find at the bottom of a check. But if you're like many, you don't use paper checks (or you just don't happen to have a check handy), there are a few other places you can find your bank's routing number:
What do I need my routing number for?Routing numbers ensure that money transferred between accounts arrives at its intended destination. Here are a few types of transactions that might require you to obtain and enter your bank routing number:
Do routing numbers change?Yes. When banks merge, consolidate, or acquire other banks, the routing numbers associated with your account may change. Your bank will alert you of the change well before it takes effect, usually many months in advance. And in many cases, the old routing number will remain active for a few months after the switch. Here are some
things to keep in mind if your routing number is going to change:
The bottom lineAlthough you may not use it every day, your bank's routing number is a vital piece of information that helps make your banking experience run smoothly and guarantees your money gets where it needs to go. If you want to put more money back in your wallet every time you spend, try PointCard™. A transparent, easy-to-use alternative payment card, PointCard allows you to spend your own money while also receiving exclusive benefits, including unlimited cash-back on all purchases and bonus cash-back on subscriptions, food delivery, rideshare services, and coffee shop purchases. You also get fraud protection with zero liability, no interest rates, and rental car and phone insurance. Join Point now. |