June 10, 2015treehouseadmin
ABA number, also known as Routing Transit Number (RTN) or ABA Routing Number, is a nine-digit code assigned by the American Bankers Association to identify each financial institution in the country.
ABA Routing Numbers or RTNs were introduced in 1910 by the ABA (American Bankers Association). ABA numbers were initially assigned to identify check processing endpoints and are now being used in automated clearinghouses, online banking and electronic transfer of funds. RTNs currently include MICR and accommodate the FRS (Federal Reserve System). All state and federal financial institutions maintaining accounts with the Federal Reserve Bank are eligible for a unique ABA Routing Number. ABA registrar ‘Accuity’ is responsible for assigning routing numbers.
Related Blog Article:
What is an ABA Number?