Each bank account is associated with a unique number and it belongs to the account holder. Usually, a bank account number doesn’t get you very far if you’re trying to identify the bank where the account is held. This is because each bank has used its own number ranges and assigns account numbers as they like. So, the same account number can simultaneously be used by other banks. Therefore, you will need the routing number to identify the bank.
What Is Bank Account Number?
A bank account number is an identifying number for a bank account. It helps the bank authority to identify the account holder and access the information conveniently. The account number is longer than the routing number and it works in conjunction with the routing number. Usually, the routing number identifies the name of the financial institution and the bank account number identifies your individual account. The account number is between 8 and 12 digits and with this number, you won’t be able to find out which bank your account belongs to. If you hold two bank accounts in the same bank branch then you will have the same routing number but your account number won’t be the same. A bank account number is a confidential information therefore, you should keep the account number hidden and safe.
What Is Bank Routing Number?
A routing number is a nine-digit number that a bank uses to identify specific financial institutions within a country. A routing number will not only tell the name of the bank but also shows in which branch the account was opened. The routing number is also known as a routing transit number, an ABA number, an ABA routing number, or an ABA routing transit number. Here ABA stands for the American Banking Association. It was established in 1910 and it was the first organization to manage these numbers. Then Accuity took over the ABA and now the number accommodates the Federal Reserve System as well. So, the routing number proves that the bank is a federal- or state-chartered institution and it also maintains an account with the Federal Reserve.
Routing Number Format
Usually, the routing number has two forms: fraction form and MICR (magnetic ink character recognition) form. Both the forms contain the same information. The MICR form is the more commonly used form and the fraction form is very rarely used form. In the MICR form, the routing number looks like – XXXXYYYYC. Here, XXXX is Federal Reserve Routing Symbol and the YYYY is the Financial Institution Identifier. The last digit C is the Check Digit.
Within the 4 digits of the Federal Reserve Routing Symbol, the first two digits can only be 00 – 12, 21 – 32, 61 – 72, or 80. The 21 – 32, range is only assigned to credit unions and savings banks. The 61 – 72 range is used for special purposes like non-bank payment processors and clearinghouses. The value of 80 is for traveler’s checks. Here are the details –
|Primary (01-12)||Thrift (+20)||Electronic (+60)||Federal Reserve Bank|
How To Identify A Bank Via Accounting Number Or Routing Number
You can easily identify a bank via routing number or accounting number. In fact, routing numbers are public records, therefore it is very easy to track down a financial institution using the routing number. So, if you don’t have any paper check or any document that contains the name of the bank then you can check the routing number online to verify the financial institute. Moreover, if you have doubts about the legitimacy of a check then you should check the routing number and make sure the number matches the institution that’s named on it. Check the website of the bank which name is printed on the check and find out the routing number. Or, you can call the bank and ask for the number if you know the bank but don’t know the routing number.
List Of Largest Banks In The USA
|American Express||JPMorgan Chase|
|Bank of America||Key Bank|
|BBVA Compass Bank||Metabank|
|Capital One||PNC Bank|
|Citizens Bank||Suntrust Bank|
|Comerica Bank||TD Bank|
|Fifth Third Bank||Ally Financial|
|First National Bank||US Bank (U.S. Bancorp)|
|HSBC Bank||Wells Fargo Bank|
FAQs About How To Identify A Bank Using Bank Account Number
Can We Know The Bank Name From The Account Number?
Usually, it is not possible to know the bank name from the bank account number. You will need the bank routing number to know the name of the bank as well as the location of the bank branch.
How Do I Find Out My Bank Details?
There are many ways you can find out the bank details. Some common ways are –
1. Access your account information online
2. Use an app that tracks your activity
3. Contact your bank on the phone
4. Check at an ATM
How Can I Check My Bank Details Online?
Nowadays, many banks offer online banking facilities and if you have an online banking account then you can easily check your bank details online. Just log into your online banking account with the user’s name and password and you will find all the details of your bank account.
How To Verify The Owner Of A Bank Account?
There are many ways you can verify the owner of a bank account. Follow the below tips –
1. Ask for the identity of the check holder/bank account holder
2. Call the bank to verify the identity of the account holder as well as verify additional signers on the account
3. Check the printed routing number on the check online and verify if it matches a valid bank
How To Find The U.S. Account Number?
If you are looking for your bank account number then you can look at your bank statements or you can look at your checks. Usually, the bank account number is 10-12 digits long and you can easily notice the number. If you don’t have any documents then you can call the bank and ask for your bank account number.
Magalie D. is a Diploma holder in Public Administration & Management from McGill University of Canada. She shares management tips here in MGTBlog when she has nothing to do and gets some free time after working in a multinational company at Toronto.