You might have heard about routing numbers before. They are digits that are read alongside account numbers. They work hand-in-hand with them, helping transactions go to and fro. If you’ve opened your first ever bank account, you might have no idea how they work. We’ve made things easy for you by running through what the digits are and how you can validate them by using number checkers.
Routing numbers will let you know where your bank account was made. They are also known as RTN and routing transit numbers. You’ll be asked for them multiple times, depending on what transaction you’re making. If you’re planning on sending a wire transfer, you’ll likely need them. You’ll also need them when ordering checks online, and when receiving and setting up direct payments.
Routing numbers not only verify transactions but are used to prove whether your bank is federal or state-chartered.
RTNs, also known as ABA routing numbers, have been around for a while. They were created in 1910 by the American Banking Association.
You can think of account numbers like identity cards. Wherever you may be, they identify your bank account. Account nos and RTNs work together. They help funds go through without a problem.
An account number is between 8 and 12 digits. If you hold 2 different accounts in a branch, their identity numbers will be different. However, their routing tracking number will be the same.
You’re supposed to guard your account number heavily. It’s unique to you after all.
There are several ways to find this. You can take a look at your checkbook. The number will be on checks, alongside your account number. You’ll be able to find the number through online banking as well. However, you might have to dig a little – it’s usually in the ‘My Account’ section.
If you like to, call your bank. They’ll be happy to tell you what your RTN is. A lot of the time, you’ll need to give them your account number and other identity means.
You must get your routing transit number right. If not, your transaction may be delayed. Depending on the bank you’re working with, you will have to pay a fee if you send cash to the wrong account.
You might have different RTNs. Some banks provide you with different digits for international payments and wire transfers, compared to things like direct payments and the ordering of checks. This is where you should be extra careful. Smaller banks aren’t known to provide you with more than one routing number, but you should still contact them.
You can validate your number through number checkers. They are free to use and are widely available. All you need to do is type the digits in. You should be careful, though. Although the majority don’t store your bank information, some do. Be sure to check reviews before choosing one.
As you know, account numbers are usually 8 to 12 digits. RTNs aren’t that different. They come with 9 digits. You might think that they’re like your credit or debit card, being divided into groups of 3 or 4.
When taking a look at a check, this is what you’ll see:
Your account number is like an identity card. It will let people know exactly who owns your account. The number works hand-in-hand with routing tracking numbers. Routing numbers specify the location your account is in. If you want to receive wire transfers, they are needed. RTNs are needed for a range of activities, for example, ordering checkbooks online.
To identify your number, you can log into your online bank account. You can contact your bank, or even take a look at your checkbook. If you’re doing the latter, your RTN will be above your account and check number.
You normally don’t have one RTN. If you send cash to the wrong account, you’ll have to pay a fine. A lot of the time, transactions are delayed too. If you want to validate your number, the best thing to do is use a number checker. Be careful, though – don’t work with a name that stores your bank details.
With these tips in mind, you’ll be better informed about routing tracking numbers and be able to make the right decision when choosing one.