You all must have heard about the routing numbers, perceived them on your monthly bank statement, and several past employers must have also asked them. But, what actually are they? Don’t worry; we have you covered with this article that is going to provide you with some insight on what actually a bank routing number is!
Bank Routing Number
A Bank Routing Number is actually a 9-digit long code that is going to be utilized to recognize where your bank checking/saving account has been opened. It might as well be identified as Routing Transit Number, RTN, or ABA routing number. Since you make up your mind to transfer money globally, one of the codes that you are going to need at the time is the bank routing number.
Bank Routing Number – Where to Find
You might be able to discover your routing number at the lower left-hand side of your checks since it is going to be the bunch of numbers provided on the left-hand side of the account number. In case you tend to use online banking, you might easily be able to locate the information about your bank routing number over the account’s page.
Since the routing numbers don’t require keeping them personal, a majority of banks have also published them on their certified official websites. This turns it a breeze to obtain the bank routing number that you require to make a wire transfer with the help of an effortless Google search.
When is a Bank Routing Number Used?
There are more than a few situations in which you are going to be inquired for your bank routing number. For an instance, if you’re transferring any payment either by your phone or through online means, or in case you’re setting up automatic bill payments, you are going to require providing your bank routing number along with the account number.
Correspondingly, in case you need to process the checks or want to transfer money globally, you are going to be requested to deliver your bank routing number, so that the banks are going to know exactly where the funds are needed to be transferred.
Your bank is going to be capable of telling you which bank routing number you must use for the transaction that you want to get done. The bank routing numbers given on the checks can be dissimilar from the routing numbers mandatory for setting up a wire transfer; hence it’s a nice idea to verify them by searching online so as to evade processing interruptions.