Is The Routing Number For Checking The Same As For Savings?


4 Answers

Roger Clegg Profile
Roger Clegg answered
A routing transit number, or an RTN as it is called by its true name, is a nine digit bank code that is used in the United States, which appears on the bottom of negotiable instruments such as checks identifying the financial institution on which it was drawn.
This particular code was designed in order to facilitate the sorting, bundling and shipment of paper checks back to the drawer's (check writer's) account. This is a difficult process so the RTN number is a key document in this process to ensure it runs smoothly.
So the routing number is just the number that identifies the bank to the federal reserve. It is also used in making transfers or payments of money from one account that is situated in the UK to another country where you will need the RTN or IBAN number in order to complete the transaction.
You will be able to locate your bank's routing number on the bottom of a check. It is the first set of numbers on the bottom of a check, but beware as a number of banks have more than one routing number. This is for firstly the procedure of wire transfers and secondly for ACH transfers/checks.
The routing number is unique and therefore is specific to the bank. Everyone doing business at that particular bank has the same routing number but your own account number is specific to you and type of account. So all you need to do is call the bank and ask them their routing number in order to make a number of transactions. You will even have the chance to make foreign payments to relatives aborad or in other countries who you need to make payment to.
Anonymous Profile
Anonymous answered
The routing numbers for both the Checking and Savings in the same financial institution are normally the same.
Anonymous Profile
Anonymous answered
Yes.  The routing number just verifies the name of bank you're using.
Robyn Rothman Profile
Robyn Rothman answered
Yes, they are different.  The routing number identifies the financial institution, and the account number identifies you as the owner of that account.

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