Definition
A nine-digit code that identifies your bank in financial transactions, such as direct deposits and wire transfers.
What to consider
- Double-check the number when setting up direct deposits.
- It’s essential for ensuring your funds are routed correctly.
- Keep it handy with your account details.
Real world scenarios
- Terry enters the routing number found on his check when setting up direct deposit for his new job. This ensures his paycheck lands in the right account.
- When sending a wire transfer, Macy double-checks the recipient’s routing number to avoid misdirected funds.
- Dan stores his bank’s routing number in a secure note, making it easy to reference whenever he needs to update billing details.
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