Notes

Should Your Check Routing Numbers Be Confidential?

<p>If you're like most people, you probably have your routing number and account number written on the bottom of your checks. You might not think much of it, but did you know that those numbers are also used to verify your identity when you make a deposit or transfer money? There has been some discussion lately on whether or not to make check routing numbers confidential. On one side of the argument, some people say this would help protect consumers from fraud. On the other side, many people argue that making this information confidential would make businesses more difficult to operate efficiently.&nbsp;</p>
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<p><strong>&nbsp;What is a Bank Routing Number? </strong></p>
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<p>A routing number is a nine-digit code given to banks by the Federal Reserve to identify individual banks in the United States.</p>
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<p><strong>Ways to find bank routing number </strong></p>
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<img width="356" src="https://s3.fr-par.scw.cloud/r-upload-4/7498/Checkbook-OCW.png">
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<p>You can find your bank's routing number in these places:</p>
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<li>From your check or checkbook</li>
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<li>From your bank statements</li>
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<li>On your bank's online banking app or portal</li>
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<li>Calling your bank</li>
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<p><strong>Look for it on Your Checkbook </strong></p>
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<p>Checkbooks, which are made specifically for your bank, include their routing number. The check routing number is usually found at the bottom left corner of your check, near where all the numbers are. The routing number is the bottom leftmost nine digits on the check, and it will be the same for everyone from your bank.</p>
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<p><strong>Finding the Routing Number Online </strong></p>
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<p>You can find your bank account and routing number on your computer or phone. Log into your bank account on your computer, and you will see the account and routing numbers next to each other. The same goes for your bank's mobile app - look for information on your account. Keep in mind this change with respect to banks, but this is how they are commonly seen.</p>
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<p><strong>Use of Routing Numbers </strong></p>
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<p>A routing number is like an address for your bank. This number helps the people sending you money know which branch of the bank their money should go to. This prevents money meant for you from going to a different bank branch because each branch has a unique routing number.</p>
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<p><strong>Routing Numbers and Account Numbers </strong></p>
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<p>A routing number identifies your bank, but your account number specifies your specific account out of all the other institutions' other accounts. The account number is the unique identifier for each individual's account, which can be anything from 10 to 12 digits long. Your account and routing numbers are typically used together whenever you make transactions or transfers. This is to make sure that all the money goes into the right place. You can find your account number online, at the bottom of your checks , and next to your routing number.</p>
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<p>Furthermore, the account number is in your monthly bank statement, which you receive every month.</p>
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<p><strong>Is it Okay to Disclose Your Routing Numbers? </strong></p>
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<p>A routing number is not confidential. It is often posted on bank websites. This is because even if someone had your routing number, they would not be able to do anything with it.</p>
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<p>It's a lot like telling someone what state you live in. They can't track you down with that incomplete information, so it is harmless. However, This Piece Covers It Well is confidential. This is the number that identifies your account. Someone with this number can get into your account and move money around. So make sure you keep your number safe and secure so no one can use it.</p>
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<p><strong>Uses of Routing Numbers&nbsp; </strong></p>
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<p>Your routing number is often used when you make your first purchase or if you're making a purchase or payment by phone or online. You'll need to provide both numbers, so the money knows where to go. Additionally, a routing number is needed if you are processing checks or handling international payments.</p>
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<p>A routing number is something that most people know. You don't need to feel bad about giving it out. Most people use their routing and account numbers together when making purchases. If you can find one, you can easily find the other.</p>
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<p>A bank routing number is not difficult to find if you know where to look. Now that you have it, you will be able to understand what it is used for whenever someone asks for it.</p>
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<p>Your check routing number isn't confidential, but your account number is. Make sure to keep that safe and secure! Your check routing number is often used when you make your first purchase or if you're making a purchase or payment by phone or online. You'll need to provide both numbers, so the money knows where to go.</p>
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Homepage: https://www.federalreserve.gov/paymentsystems/check_about.htm