By William Cao. Edited by Arjun Chandrasekar.
The American Bankers Association (ABA), more commonly referred to as the check routing number, is needed for setting up direct deposits or ordering checks online. Every bank-related financial transaction requires the routing and account number that can be seen when initially opening your account. This article will give an in-depth overview of the check routing number rather than the account number.
The routing number is a sequence of nine digits used by banks to identify specific financial instructions within the United States. Why? This is because the number proves that the bank is actually a federal or a state-chartered institution and thus can be maintained by the Federal Reserve. Most banks in this time of age use the specific routing number for all transactions despite it being electronically or on paper.
Smaller banks usually have just one routing number while larger and more established banks can have several different ones varying from state to state. More uses of these numbers can include ordering checks, consumer bills payment, tax payments, or establishing direct deposits (paychecks).
If lost, the check routing number can be easily obtained online by contacting your bank. The routing number is a sequence of nine digits used by banks to identify specific financial instructions within the United States, proving the overall worthiness of a federal or state charter. Normally, the number is located in the bottom left corner of each check.