A bank routing number is a nine-digit code that identifies the financial institution where an account is held. It is used to facilitate electronic funds transfers, such as direct deposits and automatic payments. To check your bank routing number, you can refer to your checks, bank statements, or online banking portal.
Knowing your bank routing number is important for several reasons. Firstly, it allows you to receive direct deposits from employers, government agencies, and other entities. Secondly, it enables you to set up automatic payments for bills and other recurring expenses. Additionally, it plays a crucial role in wire transfers and other electronic payment methods.