Bank Routing Numbers in the USA
What is a Routing Number? Bank Routing Number which is also called Routing Transit Number (RTN) is a nine-digit code, which is located on the bottom of every Bank Check. Routing numbers are used in the US and are used to identify the financial institution, for money transfers (ACH, Fedwire, etc.).
It is important to know that different financial institutions have different routing numbers. So, before initiating a bank transfer, it is essential to ensure that you have a correct one.
Often, some financial institutions use different routing numbers for electronic and paper transactions.
Routing number differs as it is based on the location of the Bank, in which you opened the account. In case of forgetting the numbers, Bank users can log into their Online Banking, or search for it in the Google, or any other search engines, as they are always the same for one particular region. For example, the routing number for Arizona is – 122105155, and for Nevada, it will always be – 121201694.
Next to the Routing Number, there is an Account Number, which is individual for every person and which can be found in Personal Online Banking.
Originally, Routing Numbers were designed to facilitate the sorting, and shipping paper checks back to their owners. After that several new payment methods like Wire and ACH were developed, so the Routing Number system was updated in order to accommodate those methods too.
Routing Numbers were developed by the American Bankers Association in 1910, Since then, as the number of financial institutions have increased, there are approximately 26,895 active ones now. One institution has at least one number and may even have 5, 6 or even 90 of them.
Federal Reserve uses routing numbers in order to process their customer's payments.
The first numbers of the nine digit code are not chosen by accident. They should always start with the digits in the ranges from – 00 to 12, 21 to 32, 61 to 72 or 80.
Digits are assigned following the next rules:
- United States government uses digits 00
- Digits from 01 through 12 are called “normal “numbers and always correspond to all 12 Federal Reserve Banks. For example, 103000648 is the Routing Number for JP Morgan & Chase Bank for the state of Oklahoma.
- Digits from 21 to 32 are assigned to thrift institutions only in 1985, but nowadays the numbers from 01 through 12 are assigned to them.
- Digits from 61 to 72 are for a special purpose and are used for non-bank payment processors.
- Cheques with the routing numbers starting with the 80s are for travelers.
First two digits corresponding to 12 Federal Reserve Banks:
- Boston Federal Reserve Bank – Primary (01); Thrift (21); Electronic (61)
- New York Federal Reserve Bank – Primary (02); Thrift(22); Electronic (62)
- Philadelphia Federal Reserve Bank – Primary (03); Thrift (23); Electronic (63)
- Cleveland Federal Reserve Bank – Primary (04); Thrift (24); Electronic (64)
- Richmond Federal Reserve Bank – Primary (05); Thrift (25); Electronic (65)
- Atlanta Federal Reserve Bank – Primary (06); Thrift (26); Electronic (66)
- Chicago Federal Reserve Bank – Primary (07); Thrift (27); Electronic (67)
- Louis Federal Reserve Bank – Primary (08); Thrift (28); Electronic (68)
- Minneapolis Federal Reserve Bank – Primary (09); Thrift (29); Electronic (69
- Kansas City Federal Reserve Bank – Primary (10); Thrift (30); Electronic (70)
- Dallas Federal Reserve Bank – Primary (11); Thrift (31); Electronic (71)
- San Francisco Federal Reserve Bank – Primary (12); Thrift (32), Electronic (72)
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