FINANCE

What does RTN mean in banking?

RTN – is a routing number. It is a nine-digit code that uniquely identifies your bank (as a random example, let’s take the number 101114918 – it belongs to a branch of Community First National Bank of America in Manhattan, Kansas). It appears at the bottom of the check. Usually, it is listed near the account number. You can locate your routing number by looking for the MICR symbol at the end of the account number. It resembles a square on the left and a vertical line on the right. You’ll find the routing number between these two squares. Because these numbers are not private, they are public information. Most banks post their routing numbers online.

The bottom left corner of a check contains the routing number, or ABA routing transit number, of your bank account. RTN is the first set of numbers.

Shall I show you an example?

Below is an example of a check with an explanation of which set of numbers means what.

In the example, we see a check written by John Walker for $145 for cleaning services. At the bottom of the check from left to right are important sets of numbers:

  1. 123456789 – ABA RTN number
  2. 000123456789 – account number
  3. 0001 – check number

Where do I find the routing number if I don’t have a bank check?

If you don’t have a check, you can find it online. Checks usually have these numbers on the bottom left, as is your account number. You can also find the routing number online, but make sure you use the website of your financial institution to get the correct number. Otherwise, you may find that other websites collect the routing numbers of several financial institutions. Ideally, you should get your routing number directly from the financial institution that issued your checking account.

You can also find out the aba routing number of your financial institution at https://rtn.one (lookup with no limit searches). If you search backward (by 9 digit code) you will find the branch contact information, which you can use to contact the bank to clarify the data.

When Do I Need My RTN?

This is not private information but is vital to many types of banking transactions. The routing number is printed on deposit slips and personal checks and is usually the bottom-left set of numbers surrounded by identical symbols. You won’t find this information on prepaid cards, debit cards, or ATMs, but you can find it on your bank’s website. You may find it displayed on your user account page. However, it is more common for banks to publish this information in obscure places.

You need your routing number for a variety of banking transactions, including direct deposit, bill payment, and automatic loan payments. You can also use your routing number to transfer money between accounts using ACH technology, which is a type of internet banking.

And Now the Frequently Asked Questions:

What’s the difference between ABA and ACH?

ABA and ACH routing numbers are similar, but not identical. While ABA numbers are used for one-time payments, ACH are used for recurring payments. The purpose of these numbers is the same – to make payments and receive them. For more information, visit the bank’s website.

How many routing numbers are there in American banks?

According to the World Encyclopedia, there are about twenty-seven thousand ABA RTN`s in the United States.

Can two different banks have the same number?

The answer is no. Two banks cannot have the same routing numbers, but large banking institutions can have more than one. For example, First National Bank of Pennsylvania and The Freedom Bank of Virginia cannot have the same number.

What numbers are responsible for the ABA Institution Identifier?

The fifth, sixth, seventh and eighth digits of the number are the ABA Institution Identifier.

Is it safe to tell strangers your bank’s routing number?

Of course. The RTN is not confidential information. Banks publish them freely available on their websites, and there are also many websites with lookups.

To make it clearer, here’s an example. It’s like being afraid to give your home address for fear that your house will be burglarized later.

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