A routing quantity for a verify, often known as a financial institution routing quantity or ABA (American Bankers Affiliation) quantity, is a nine-digit code printed on the underside of checks. It identifies the monetary establishment the place the verify’s account is held. As an example, the routing quantity 123456789 on a verify signifies that the funds must be transferred to Financial institution of America.
Routing numbers are essential for digital verify processing. They permit banks to establish the right monetary establishment to ship the funds and provoke the switch course of. Moreover, routing numbers play an important function in direct deposit, permitting employers to ship salaries on to staff’ financial institution accounts.
