A US Financial institution routing quantity, often known as an ABA routing quantity, is a nine-digit code that identifies the monetary establishment the place an account is held. For example, the routing quantity for US Financial institution in Minneapolis, MN is 091000024.
Routing numbers play an important function within the digital switch of funds, making certain that funds attain the supposed recipient’s account. They’ve been used within the US because the late Sixties, when the American Bankers Affiliation (ABA) carried out the MICR (Magnetic Ink Character Recognition) system for automated test processing.