A routing number, also known as an ABA number, is a nine-digit code that identifies a specific financial institution in the United States. It is used to facilitate the electronic transfer of funds between banks and credit unions. For instance, the routing number for TD Bank in New York City is 021000071.
Knowing the routing number for your bank is essential for setting up direct deposits, making online payments, and transferring funds between accounts. It helps ensure that your transactions are processed correctly and securely. Historically, routing numbers were printed on checks, but with the advent of online banking, they are now commonly found on bank websites and mobile apps.