ABA number, meaning routing number, is an important concept in US banking.
While other countries do use similar numbers, this can still be a confusing topic for foreign non-residents who have managed to overcome the onboarding qualifications at US banks.
So, in this article, we’re going to be sharing everything you need to know about ABA numbers.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- ABA Number Meaning
- ABA Number vs Routing Number
- How Do I Find My Bank ABA Number?
- Frequently Asked Questions
- Ready to Open Accounts With Banks in the USA?
ABA Number Meaning
ABA number, meaning the American Bankers Association (ABA) routing number, is a nine-digit unique identifier assigned to every bank in the United States to facilitate transactions. The ABA numbers were first introduced by the American Bankers Association in 1910.
Importantly, banks can have multiple ABA numbers, to facilitate different types of transactions for various purposes, ranging from physical checks, to direct deposits, etc. Additionally, different bank branches can also have different ABA numbers, meaning two branches of the same bank will be identified individually.
All US financial institutions that offer deposit products to the public use ABA numbers, including both commercial banks and credit unions.
Before diving in further, if this is your first time visiting GlobalBanks, don’t forget to download your FREE US Banking Starter Guide. It’s designed to help non-residents with opening bank accounts at top financial institutions in the US.
Are Routing Numbers Different From ABA Numbers?
Yes, routing numbers are different from ABA numbers. ABA numbers are traditionally used for physical checks while routing numbers are used for all transactions, including wire transfers, standing orders, direct deposits, and more. That said, most banks issue the same number for both routing numbers and ABA numbers.
Example of an ABA Number
An example of an ABA number is 021000021. This is the routing number for Chase Bank in New York. This routing number can be used for savings accounts, checking accounts, and ACH transfers. However, wire transfers use a shortened version of the ABA number, which is 021000021.
ABA Number vs Routing Number
The main difference between an ABA number and a routing number is that an ABA number was traditionally used for sending physical checks while a routing number facilitates all transactions, including wire transfers, direct deposits, standing orders, and more.
How Do I Find My Bank ABA Number?
You can find your bank ABA number on physical checks, through your online bank account, mobile banking app, or on bank account statements.
If you have physical checks available from your bank, the ABA number is located at the bottom of the check, meaning below the payment information.
If you do not have a physical check available, you can usually navigate to your account information in either online banking or the bank’s mobile application.
Lastly, if you have a recent bank statement, you can also find the information available there.
Frequently Asked Questions
Below are four of the most common questions we receive from people looking into the meaning of ABA numbers. If you have further questions you would like to ask our team, don’t hesitate to get in touch.
What Is an ABA Number?
AN ABA number is what many refer to as a routing number. It is a unique nine-digit code that identifies financial institutions. The ABA number is to identify each financial institution when funds are transferred to and from other financial institutions, when paying bills, and setting up direct deposits.
However, it’s important to note that while most banks use the same ABA number and routing number, not all banks do this. In certain cases, banks will use a different number for checks (ABA) and wire transfers (routing numbers).
Can I Find My Business Bank ABA Number Online?
Yes, you can find your business bank account ABA number online. To find your ABA number, log into your business bank account and navigate to your account information.
Is the ABA Number the Routing Number?
Yes, the ABA number is the same as the routing number in most cases. However, certain banks will issue multiple routing numbers for different transfer methods. For example, an ABA routing number is commonly used for physical checks while an RTN (routing transit number) is used for wire transfers.
What Is the Difference Between ABA and a Routing Number?
The main difference between an ABA routing number and a standard routing number is that an ABA routing number is traditionally used for sending physical checks while a routing number can be used for physical checks, direct deposits, standing orders, and more. That said, most banks will issue only one routing number. This number can be an ABA routing number or the standard routing number.
Ready to Open Accounts With Banks in the USA?
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