Routing vs. account numbers, explained

What is an account number?

An account number is a distinct series of digits assigned to an individual's bank account. It serves as an identifier, allowing financial institutions to track and manage transactions associated with that specific account.

An account number is normally confidential and critical for several banking operations, such as deposits, withdrawals, and transfers. If someone gains unauthorized access to a person’s account number, they may be able to conduct fraudulent transactions. Therefore, it’s critical to safeguard this number and only supply it to trusted organizations.

What is a routing number?

A routing number, also known as an ABA (American Bankers Association) number, refers to a nine-digit code used by financial institutions in the U.S. to identify the specific bank or credit union associated with a particular account.

Routing numbers help facilitate the routing of funds during electronic transactions, such as direct deposits, wire transfers, and automated bill payments, ensuring money reaches the correct destination.

Differences between routing and account numbers

While routing and account numbers may often be seen or requested together, there are differences between them.

For example, routing numbers are typically:

• Used to identify a person's specific bank or financial institution.
• Needed to direct funds between banks, enabling transactions like transfers and direct deposits.
• Unique to each bank or credit union, meaning that every financial institution has its own.
• Found at the bottom left of a check.

Account numbers can:

• Specifically identify a bank account for transactions, withdrawals, and deposits.
• Pinpoint an individual or entity's bank account within that institution.
• Be distinct to each individual or entity's account within a bank.
• Be located to the right of the routing number on a check.

Importance of routing and account numbers

Routing and account numbers work together to ensure funds in a transaction are sent correctly between different financial institutions. They help indicate where money is coming from and where it should be going. If someone were to supply an incorrect routing number or account number, a transaction could end up in the wrong account or left incomplete if the routing number indicated the wrong financial institution.

When are routing and account numbers needed?

Someone may need their account and routing numbers to send money and conduct other transactions. Here are some examples:

• Direct deposits and wire transfers
• Automatic bill payments
• Loan applications or repayment plans
• Utility payments
• Government benefits and tax refunds

Where to find routing and account numbers

There are many places someone can find their routing and account numbers. Some examples are:

• Checks: On the bottom of personal checks, the routing number is the first set of nine digits, and the account number follows.
• Online banking and mobile banking apps: Both numbers are typically listed in one’s account details or settings.
• Bank statements: Routing and account numbers are often printed on monthly bank statements, usually near the top or bottom of the page.
• Contacting the bank: A bank’s customer service can generally provide routing and account numbers if the account holder has trouble accessing them. Note that certain personal information will need to be given to verify identity before being told an account number.

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