In the banking industry, a routing number, also known as an ABA number or RTN, is a nine-digit code that identifies the financial institution. It is a unique identifier used to facilitate the electronic transfer of funds between banks and other financial institutions. TD Bank, one of the largest banks in North America, has its own unique routing numbers for each of its branches. For instance, the TD Bank branch located at 123 Main Street, Anytown, USA would have a specific routing number assigned to it.
Routing numbers play a crucial role in the smooth functioning of the financial system. They ensure that funds are transferred securely and efficiently between accounts held at different banks. Without routing numbers, wire transfers and other electronic payments would not be possible.
