What Is A Bank Routing Number & How Do You Find It?

Routing numbers ensure payments are sent to the right bank or financial institution. Here's how to easily find your routing number.

WRITTEN & RESEARCHED BY
Kymberlin Bush
Expert Contributor

Last updated onUpdated August 7, 2024

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Key Takeaways

A bank routing number is a 9-digit number that uniquely identifies a financial institution and is essential for processing transactions like direct deposits, loan disbursements, and check processing. These numbers ensure funds are sent to the correct bank.
You can find your bank routing number on your monthly bank statement, through your online banking account, by contacting your bank's customer service, or by using the ABA's routing number lookup service. It's also located at the bottom left corner of paper checks.
Bank routing numbers are required in several scenarios, including setting up direct deposits, applying for small business loans, filing taxes, signing up for automatic payments, processing checks and wire transfers, using peer-to-peer payment apps like Venmo or CashApp, and transferring money between bank accounts.

As a business owner, there are several scenarios that require providing bank routing numbers, such as filing taxes, processing payroll, and even receiving loan disbursements.

But what is a bank routing number, and why is it important? This post explores bank routing numbers, how you can find them, and how they’re typically used.

Table of Contents

What Is A Bank Routing Number?
How To Find A Bank Routing Number
When Do You Need Your Bank Routing Number?
The Bottom Line On Bank Routing Numbers

What Is A Bank Routing Number?

A bank routing number is a 9-digit number that uniquely identifies your bank account. Also known as American Bankers Association (ABA) routing numbers or routing transit numbers, these numbers were originally created by the ABA to make the check transaction process faster and more efficient. Routing numbers are also used for direct deposit forms, apps like Venmo and CashApp, or payments through services like PayPal.

Routing numbers are assigned to specific financial institutions and act as an address that banks use for sending and receiving money. The routing number prevents funds from being sent to the wrong institution. All bank routing numbers begin with a 0, 1, 2, or 3.

Bank routing numbers are only needed for transactions when money is being transferred directly to or from an account. A routing number is not required for debit or credit card transactions.

How To Find A Bank Routing Number

There are several ways you can find your bank routing number, including:

Your monthly bank statement
Your online bank account (website or app)
Your bank’s customer service team
The ABA’s routing number lookup service
The bottom left corner of a paper check

Unlike bank account numbers, the bank routing number is not unique to your specific account. It’s easy to find this number through the ABA’s routing number lookup service without worrying about the security of your account.

Major banks have routing numbers that are specific to the state in which the account originated. If you search for your routing number online, make sure it’s for the correct bank and the specific state, as well.

When Do You Need Your Bank Routing Number?

There are a number of situations in which you’ll need to provide your bank routing number.

Direct Deposit Forms

Employees who want to have their pay deposited directly into their bank accounts instead of receiving paper checks can sign up for direct deposit. The direct deposit form requires information including bank account number and routing number.

Business owners who process their own payroll will need to be able to identify these numbers when signing up employees for direct deposit.

Other direct deposit forms, such as those required for Social Security or other government benefits, also require a bank routing number.

Small Business Loans

If you apply for a small business loan, lenders often give you the option to deposit funds directly into your business checking account. This method is faster and easier than waiting for a paper check to arrive in the mail. When applying for a loan, you’ll be required to provide your routing number, account number, and other information in order to receive your funds.

Filing Taxes

Your routing number may be required when you file your income tax return. If you owe the IRS, you can pay directly from your bank account. If you’re receiving a refund, you can also request that funds are sent directly to your account.

In either of these cases, you’ll need to give the IRS your bank routing number in order to complete any direct transactions.

Automatic Payments

If you sign up for automatic payments, you’ll be required to provide your routing number. This allows landlords, lenders, and businesses to be able to find your account and withdraw money as scheduled without requesting your banking information for each payment.

Processing Checks & Wire Transfers

Bank routing numbers were originally created for processing checks, and they are still used for this purpose. Every check written by individuals, businesses, and lenders has the routing number printed on it.

Wire transfers also require your bank routing number in order to be completed.

Peer-To-Peer & Budgeting Apps

Services like Venmo, CashApp, or Zelle are designed for peer-to-peer transactions but now offer payment services for small businesses. You will have to provide your bank routing number for transactions completed on these apps.

Budgeting apps for personal or business accounts also require your bank routing number. Providing this (along with your account number) allows these apps to see your transactions. Some apps also offer features like rounding up purchases or withdrawing specific amounts each month to add to your savings account. Adding your routing number ensures these funds are being sent to the correct account.

Transfers Between Banks

If you need to move money from your personal account to your business account (or vice versa) or have accounts at different financial institutions, you’ll need to provide your bank routing number for transfers between accounts.

The Bottom Line On Bank Routing Numbers

Whether you’re processing payroll for employees or applying for a small business loan, it’s important to understand bank routing numbers and know how to find them. Fortunately, this information is easy to find, and if you have any questions, you can always reach out directly to your bank or financial institution for assistance.

Don’t forget to check out Merchant Maverick’s other great business banking and small business resources. From choosing a bank for your small business to getting a loan from your bank, we provide guidance to help you every step of the way.

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Kymberlin Bush

Expert Contributor

Kymberlin earned her Bachelor of Arts in Creative Writing from Pacific University in 2020 and resides in Portland, Oregon.

View Kymberlin Bush's professional experience on LinkedIn.

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