An ACH number, also known as an ACH routing number, is a unique 9-digit numeric identifier assigned to each banking institution in the US. It is used to facilitate electronic transactions between financial institutions, such as direct deposits, electronic payments, and transfers. ACH routing numbers were developed in the 1970s to address the high volume of checks and to expedite electronic banking.
Unlike ABA routing numbers, which are used for paper check transfers, ACH routing numbers are specifically used for electronic account-to-account transactions. The ACH routing number is used in conjunction with an account number to send or receive ACH payments. It is important to note that the ACH routing number and the ABA routing number can be the same for some banks, but they serve different purposes.
To find your ACH routing number, you can:
- Search online for "ACH routing number" and your banks name
- Log in to your online banking platform
- Look in your checkbook, as it is typically located next to your account number.
In summary, an ACH number, or ACH routing number, is a crucial component for electronic transactions between financial institutions in the US, and it plays a significant role in facilitating seamless account-to-account payments.
