A routing quantity, often known as an ABA quantity or RTN, is a nine-digit code assigned to every monetary establishment in the USA. It’s used to determine the establishment and facilitate the digital switch of funds between banks. As an illustration, the routing quantity for Wells Fargo in California is 121000248.
Routing numbers play a vital position within the banking system, enabling seamless and safe transactions between accounts and establishments. Traditionally, the adoption of automated clearing homes (ACHs) within the Nineteen Seventies led to the widespread use of routing numbers, streamlining the method of digital fund transfers.