A routing number, also known as a bank routing number, is a nine-digit code used to identify a specific financial institution in the United States. It is used to facilitate the electronic transfer of funds between banks and financial institutions. For instance, the routing number for City National Bank is 122105245.
Routing numbers play a crucial role in ensuring the smooth and accurate processing of financial transactions. They help identify the destination bank for wire transfers, direct deposits, and other electronic payments. Understanding and using the correct routing number is essential for avoiding delays or errors in financial transactions.
