A routing number is a unique nine-digit bank identification number that identifies the financial institution responsible for the payment and ensures that funds go to the right place. It is used for electronic transactions such as direct deposits, wire transfers, digital checks, and bill payments. Routing numbers were developed by the American Bankers Association in 1910 for processing checks. They are also known as ABA routing numbers or routing transit numbers. Banks can have separate routing numbers for different types of transactions, such as one for processing paper checks and another for wire transfers.
The routing number is the first set of nine digits in the bottom left corner of a check. It appears in the magnetic ink character recognition line, which also contains the account number and check number in that order. The routing number is used for lots of everyday banking tasks, including setting up direct deposit, automatic loan payments, or recurring transfers like bill payments. Employers require your routing number to set up payment systems like direct deposit.
You can find your routing number on a check in the bottom left corner. It’s the first set of nine numbers and begins with a 0, 1, 2, or 3. If you don’t have a check handy, you can also find the routing number using online banking, the banks mobile app, or a bank statement.
