In this blog post, you will learn how to find routing number on a check, what is the routing number on a check and how it work.
Let’s start from knowing what the is routing number on a check
What is the routing number on a check
Bank routing number or routing transit number (RTN) is a nine digit number used to identify financial institution in a transaction. Most common transaction types where routing numbers are used are ACH and wire transfers. Some banks and credit unions may have multiple routing numbers serving different purposes, geographical regions or branches. Therefore it is important to ensure that you are using correct routing number before you initiate a money transfer.
Routing Number is also a set of numbers associated with a checking, savings, or other bank account that associates a financial institution with the account. This number is used to determine where to route funds to or from. Any individuals seeking direct deposit from a company will typically have to provide a routing and account number.
One bank may have many routing numbers, depending on things like the location of the account or the task it’s being used for, but no 2 banks will ever have the same routing number.
Benefits of Routing Number
1. Direct deposit.
2. Automatic bill payments.
3. Check processing.
4. Wire transfers.
Where is the Routing number on a check
The routing number is part of the magnetic ink character recognition, or MICR, line at the bottom of your check, which also includes your account number. If you’re trying to find out your bank’s routing number, that’s a good place to start.
Alternatively, your bank’s website may post its routing numbers online. That’s because, unlike your checking account or savings account number, it’s not something you really need to keep secret, says C. Diane Poole, senior vice president, member & technical services at the ABA.
“Most banks will post their routing numbers on their websites, because when people want to wire them money, they need that information,” Poole says. “It becomes more sensitive when you have a routing number and an account number, because then you can actually have access to someone’s individual account.”
Read Also 1. Routing number for Bank of America
You’ll also want to make sure you have the right routing number for what you’re trying to do. For example, the routing number on your checks may differ from the number you would use for doing a wire transfer.
This is how to find routing number on a check which helps for wiring money.