A routing number on a check, a series of nine digits printed at the bottom, identifies the financial institution responsible for processing the check. It resembles 123456789. This sequence is crucial for ensuring that funds are directed to the correct bank and the recipient’s account.
Routing numbers play a significant role in the financial system. They facilitate efficient check processing, enabling banks to swiftly and accurately exchange funds between institutions. Historically, the American Bankers Association (ABA) developed the routing number system in 1910 to streamline check processing.
