Where Is Routing Number On A Cheque?
Where is routing transit number on a cheque?
A bank routing number always has nine digits and it is printed on the left hand bottom of a cheque. It is mainly used in the United States. It identifies the financial institution where a cheque originated. Since, 2004, it is finding an increased use in online transaction too. The idea of introducing RTN number on a check received from a bank was of the American Bankers Association. The Association designed it in 1910 and in the following year the Association made it public. The same association is still responsible for assigning new RTN numbers.
RTN numbers appear in two forms: the fraction form and the magnetic ink character recognition (MICR) form. The MICR is the main form. It is printed using magnetic ink and is read by the machines. The fraction form was more popular before the invention of the machine which could read MICR numbers.
MICR numbers follow the following format:
XXXXYYYYZ
XXXX denotes a Federal Reserve Routing Symbol, XXXX depends upon the geographical location. The symbol YYYY identifies the bank or the financial institution where the check originated and Z is the ‘check digit’.
The format of fraction format RTN numbers is:
PP-YYYY/XXXX
Here PP is a single or double digit prefix.
Category: Miscellaneous
