Get to know about the routing number in US

Nowadays, making payment transactions via banks has become popular. Basically, a routing number is an important element to help identify a financial institution. 

So what is a routing number in US and where is the account and routing number on a check? DNBC’s experts will help you thoroughly understand in the following article.

What is a routing number?

The routing number was created by ABA (the American Bankers Association) in 1910. It consists of a 9-digit code to identify a specific financial institution in the US. This number has alternative names, such as: ABA routing number, ABA number, bank ABA number or transit ABA number.

Originally, it was designed to identify only check process endpoints. Gradually, it was expanded to designate customers in automated clearinghouses, electronic funds payments & online banking. By time, the routing number has changed to accommodate the Federal Reserve System.

A routing number can be only issued to a federal or state chartered financial institution determined to be eligible by a Federal Reserve Bank. 

The U.S. is the only country taking routing numbers to identify banks once sending and receiving money. Foreign banks use IBAN instead.

Get to know about the routing number in US

How to find a routing number?

Because of the importance of a routing number, such as:

• Set up a deposit with your staff
• Get a direct deposit of a tax refund
• Get direct deposit of business benefits
• Make online payment of your mortgage or other bills
• Send or receive a wire transfer
• Connect your bank accounts to a budgeting app
• Schedule an electronic ACH payment
• Send/receive money in transactions to your friends and family

It’s vital to know the routing number. The routing number can be found in several places: on personal checks, bank websites or the ABA’s online database. 

Where is the account and routing number on a check?

The routing number lies on the bottom of a check issued by your bank. Most banks provide at least a free checkbook for new customers.

Routing number

The routing number includes 9 digits on the bottom-left corner on your check. 

The font for printing the number is known as magnetic ink character recognition and is printed in electronic ink to allow financial institutions to process checks.

Account Number

The account number is in the bottom center of the check, to the right of your routing number. The account number is unique to your bank account.

Check Number

To keep a record of all payments, the bottom right corner of your personal check contains a unique check number.

It’s very important to double-check because if there is any error, this can lead to a failure in transfer or send your funds to the wrong account. If you detect an error, inform your bank to reverse the transaction as soon as possible.

How to find a routing number without a check?

If you don’t have a checkbook, it’s possible to find your routing number by checking your bank’s website or via your local branch. The routing number varies by bank and location. 

Because a bank can have multiple routing numbers, it’s vital to know that your routing number corresponds to the specific bank where you opened your account.

How to find a bank with a routing number?

If you want to look up a bank by routing number, you can search for it on ABA's website. Additionally, you can also search for routing numbers via their website by giving information of the bank’s name and address.

It’s possible to receive checks without a bank name. The Federal Reserve system will process your transactions as long as they receive the routing number and account number. 

This is the reason why it’s so vital to keep your personal account number safe to protect your social security number.

How to manage routing numbers and account numbers securely?

Knowing your ABA routing and account numbers really matter if you need to make any financial transactions. 

Keeping your details safe is important. Someone can use your routing number and account number to order fraudulent checks. Or they can initiate a fraudulent ACH withdrawal from your account.

Here are some useful tips for making your routing numbers and account numbers secure:

Avoid writing down account numbers: It’s better to keep your account numbers in your memory if possible.

Destroy voided checks : If it’s compulsory for voiding a check for any reason, be sure to destroy it, instead of tossing it in the trash.

Don’t share account information: Giving your bank account numbers to anyone you don’t know can be dangerous. If you’re requested to share your account information, make sure that the request comes from a reliable source.

Carefully choose the apps to use. Personal finance apps can help a lot in managing your money. But hackers and scammers can use malware or phishing to steal your personal information. So before linking your bank accounts to an app, ensure it’s true and legitimate.

More about DNBC Financial Group

DNBC Financial Group is a trustworthy institution in the Fintech industry, providing money payment solutions all around the world. DNBC is well-known for personal and business accounts.

DNBC Financial Group has become the money transfer platform since 2017 with payment solutions at reasonable fee and favorable exchange rate.

DNBC Financial Group now has a considerable number of customers globally and has become an optimal payment provider in the world.