A routing number is a nine-digit code used by financial institutions to identify other financial institutions. It is a unique identifier assigned to a bank or credit union that is used in financial transactions such as direct deposits, electronic funds transfers, digital checks, and bill payments. The American Bankers Association (ABA) developed the system in 1910 to facilitate the sorting, bundling, and delivering of paper checks to the drawers bank for debit to the drawers account.
Routing numbers are typically found at the bottom left corner of a check, along with the account number and check number. Some banks have one specific routing number only, while bigger banks can have several routing numbers assigned to them. You can also find your routing number by logging into your online banking account or mobile app and selecting the desired account.
It is important to know your routing number to set up direct deposit for your paycheck or benefits, and to complete other basic banking transactions. The routing number indicates what bank your account is held in, while the account number is your unique identifier at that bank.
