ABA TRANSIT NUMBER Meaning and
Definition
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The ABA Transit Number, also known as the American Bankers Association Routing Transit Number (ABA RTN), is a nine-digit numeric code that is assigned to financial institutions in the United States by the American Bankers Association. This unique identifier is primarily used for facilitating the transfer of funds through electronic and paper transactions, such as ACH transfers, wire transfers, direct deposits, and check processing.
The ABA Transit Number serves as an essential component in the identification and routing of financial transactions within the banking system. Each financial institution, including banks, credit unions, and savings associations, is assigned a unique ABA Transit Number, which distinguishes them from one another and helps ensure accurate routing and delivery of funds.
The nine digits of the ABA Transit Number are separated into three sections. The first four digits represent the Federal Reserve routing symbol, which indicates the specific Federal Reserve District where the financial institution is located. The next four digits identify the institution itself, distinguishing it from other banks or credit unions within the same Federal Reserve District. The final ninth digit is a computer-generated check digit used to verify the accuracy of the ABA Transit Number.
By utilizing the ABA Transit Number, financial institutions can efficiently process and route transactions, enabling the seamless transfer of funds between accounts held in different banks.
Common Misspellings for ABA TRANSIT NUMBER
- zba transit number
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- aba rransit number
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