What Is Routing Number?
A nine-digit code that identifies a specific bank or credit union for processing electronic transactions.
Routing Number Explained
A routing number (ABA routing transit number) is a unique nine-digit identifier assigned to each bank or credit union in the United States. It is used to route electronic transactions like direct deposits, wire transfers, and ACH payments to the correct institution. Routing numbers appear on bank statements, checks, and in online banking portals. When reviewing converted CSV data, routing numbers may appear in wire transfer or ACH transaction descriptions.
Technical Details
Routing numbers follow the ABA (American Bankers Association) format: the first four digits identify the Federal Reserve district and processing center, digits 5-8 identify the specific institution, and digit 9 is a check digit calculated using a weighted modulus 10 algorithm. Large banks may have multiple routing numbers for different states or transaction types (paper vs. electronic). The routing number appears in MICR encoding on checks as the first nine digits. For ACH transactions, the routing number directs the payment to the recipient's bank. The Federal Reserve maintains the official routing number directory.
Examples
- Chase Bank routing number 021000021 for transactions in New York
- A routing number printed on the bottom-left of a personal check
- An ACH transaction description including the originating bank's routing number
Cited Statistics
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Data breaches in the financial sector increased 18% year-over-year.
Source: Identity Theft Resource Center 2024 Data Breach Report
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U.S. consumers used an average of 5.3 financial products in 2023.
Source: Federal Reserve - Economic Well-Being of U.S. Households
Related Terms
Frequently Asked Questions
What is Routing Number in simple terms?
A nine-digit code that identifies a specific bank or credit union for processing electronic transactions.
Why does Routing Number matter for bank statements?
Understanding routing number helps you work more effectively with your financial data. When converting bank statements to CSV, this concept is directly relevant to how your data is structured and used.
How does Routing Number relate to CSV conversion?
Routing Number is part of the broader process of extracting, transforming, and using financial data from bank statements. Our converter helps bridge the gap between PDF bank statements and usable spreadsheet data.
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