Banking
Routing number
Also known as ABA routing number
A routing number is a nine-digit code identifying a US financial institution in domestic payment systems. Routing numbers are required for ACH transfers and domestic wires, and a bank may use different routing numbers for each.
In plain terms: The nine-digit code that identifies a US bank.
Why it matters
The common error is using an ACH routing number for a wire or the reverse, which delays or returns the payment. Confirm which one applies before giving details to a payer.
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