Last Updated on 06/11/2017 by GS Staff
[otw_shortcode_dropcap label=”Q:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] Do savings accounts have routing numbers?
[otw_shortcode_dropcap label=”A:” size=”large” border_color_class=”otw-no-border-color”][/otw_shortcode_dropcap] A routing number is a nine digit number that is associated with a bank. It is also known as the transit number or an American Bankers Association (ABA) number. It is not unusual for larger banks to have several routing numbers for their bank based on the region where you opened the account. For example, a bank might have a routing number for every different state they operate in.
Yes, savings accounts do have routing numbers. However, the numbers are not always easy to determine like checking accounts. When you have a checking account with checks issued to you, all that you need to do is look at the bottom of the check. The first nine numbers is the routing number, while the next group of numbers is your account number.
A savings account routing number is not as simple to find since you do not have the checks to reference. You may need to view the paperwork obtained when you opened the savings account to find the number. Additionally, banks routinely put routing numbers on their website. Do a search of the bank’s website and you may find a resource to help you find the number. If the number is not online, you may need to call the bank location where you opened the savings account and ask a representative for the number. Note that if you opened your checking account at the same location as your savings account, they likely will have the same routing number.
You should always obtain the routing number directly from the bank. Do not rely on third party sources for this information because it could be inaccurate. Obviously, it is important to get the routing number right so your funds end up at the appropriate location.