Numbers 1-9 are used according to the state that the Federal Reserve District is in.ĭigits five through eight comprise a unique identity code assigned to the bank by the American Bankers Association. A bank that is located in a Federal Reserve District is designated with a 0. The fourth digit indicates the bank’s location within a Federal Reserve District. For example, “1” would indicate bank check processing center 1. The third digit identifies the Regional Federal Reserve Processing Center assigned to the bank within its district. A range of 61-72 is assigned to non-bank payment processors and the number 80 to travelers’ checks. The Districts start with 01 in Boston and end with 12 in San Francisco and often encompass surrounding states.
These numbers refer to the head branch of the Federal Reserve District Office under which the bank falls. The first two digits are typically a number between 01-12. The first four digits of a routing number are called the Federal Reserve Processing Symbol. If two banks merge, or one bank acquires another, the applicable routing numbers may change. Routing numbers are issued only to federal- or state-chartered financial institutions eligible to maintain an account at a Federal Reserve Bank. Small financial institutions typically have just one routing number, while larger multinational institutions can have several based on location. These financial institution routing numbers are known as RTNs (Routing Transit Numbers) or ABA (American Bankers Association) routing numbers.Ī routing number is a sequence of 9 digits. In the same way that every financial account is assigned a unique account number, every financial institution is assigned a unique routing number. To protect account numbers from fraud, financial institutions may also use multi-factor identification, two-step verification, and other security measures.Įvery financial transaction involves at least two account numbers: one that indicates where the money is coming from, and one that indicates where it is going. Most bank account numbers have between 8 and 12 digits, though they can range from 5 to 17. In the United States, each bank assigns account numbers using its own methodology, kept private for security reasons. Since then, account- and routing numbers have helped to securely identify account holders and financial institutions, respectively. Financial account numbers as we know them today are thought to have originated when computers began to be used for banking in the late 1960s. Examples of account numbers include routing numbers and credit card numbers.īank accounts have existed since ancient Mesopotamia, but the account number is a more recent invention.
Almost all financial transactions make use of account numbers. An account number is a unique string of numbers, letters, and other characters that identify a specific financial account.
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