Back to Blog
What is a Routing Number?
Routing Number is otherwise known as Routing Transit number RTN sometimes called ABA American Bankers Association number is a nine-digit number that helps identify financial institutions in the United States.
Usually, it’s the first set of numbers printed at the bottom left side of the negotiable instrument like a check that identifies the bank on which it was drawn.
To check your bank routing number visit https://checkroutingnumber.info/
Besides helping one identify the financial institution in a transaction, it also recognizes the location of the opening of your account. Often, you will be required to provide this number before doing any transaction online.
The number helps facilitate the bundling, sorting, and shipment of paper checks back to the drawer’s account or the account of the check writer. If you’re wondering how to find your US Bank routing number, then you need to read on and find out how.
The routing number helps prove that the financial institution is a federal- or state-chartered institution and that it preserves an account with the Federal Reserve.
Here are Some Everyday Tasks that Require you to Use a Routing Number:
Since there are many banks or credit unions out there and some of them may have similar names, the routing numbers come into play in such scenarios to avoid confusing one with another.
The multinational banks can possess more than routing number while the small financial institutions have just one routing number. This is usually based on the state in which you possess an account or the task it’s being used for. Two banks cannot possess a similar routing number.
Each bank can have up to five ABA RTNs. While some banks may have only one RTN number, some have more because of mergers that occur especially across state lines.
Routing numbers are a prerequisite when reordering checks for payment of consumer bills, tax payments and a direct deposit such as a paycheck. You can only find the routing numbers that are made use of in the international wire transfers online.
Alternatively, you can contact your bank to provide it to you since you cannot use the ones on your check. Routing numbers that are used for money transfers may be different from the routing number on your check.
A routing number is beneficial to people that don’t have access to their checks. Banks staff and the machines also use the routing number instead of bank names to help avoid confusing a bank with a similar name. That way, the checks are routed to the intended or designated bank, and they can never be mistaken or end up in the wrong place.
The routing numbers are usually public, unlike account numbers which are generally private and unique to an individual.
What is an Account Number?
Account numbers work in conjunction with the routing numbers. However, account numbers help identify your account, unlike a routing number that identifies the name of the financial institution.
If you have more than one account number at the same bank, the account numbers will be different, but the routing number is the same in most cases.
An account number is unique to you, while the routing number is for everyone using that bank.