routing and account number meaning
While the routing number identifies the name of the financial institution (see Types of Financial Institutions And Their Roles. ), the account number â usually between eight and 10 digits â identifies your individual account. If you hold two accounts at the same bank, the routing numbers will, in most cases, be the same; however, your account numbers will be different.
Routing Number. The routing number (which is sometimes referred to as an ABA) is a sequence of nine digits used by banks to identify specific financial institutions within the U.S. This number proves the bank is a federal-or state-chartered institution and that it maintains an account with the Federal Reserve.