An account and routing number is a set of numbers printed on the bottom of a check. The account number (usually 10-12 digits) is unique to your checking or savings account, while the routing number (9 digits) identifies the bank or credit union where the account is held. For instance, if the numbers on the bottom of your check read “1234567890, 0987654321”, then “1234567890” is the account number and “0987654321” is the routing number.
Account and routing numbers are essential for initiating various financial transactions. They facilitate direct deposits, electronic payments, wire transfers, and check processing. Historically, checks were the primary method of transferring money. In the 1950s, the American Bankers Association (ABA) introduced the concept of routing numbers to streamline check processing and reduce errors.
