Routing Transit Number (RTN)

A Routing Transit Number (RTN) is a nine-digit numerical code used in the United States to identify the financial institution on which a check is drawn. It is an essential part of the banking system's ability to process checks and facilitate electronic transfers of funds between banks. This code is printed at the bottom of checks and is also used for various forms of electronic banking.

Key features and uses of the Routing Transit Number include:

The structure of the RTN is designed to facilitate efficient sorting, routing, and processing. It includes:

The importance of the RTN in facilitating secure and swift financial transactions across the banking network cannot be overstated, making it a fundamental element of the financial services infrastructure.

Payment Terminology continuation: Payment Terminologies pt 2