On personal and business checks, there is a number below/to the side of your check number at the top for example: 20-1/740-45
What is it and what is it for?
2007-04-20 01:33:32 · 3 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
Those are called routing numbers. You have an account number at your bank, but the bank also has a number. If you'll notice, they are in two groups. The first group is the bank's number, and the second is your account number within the bank. This is so the "presenting bank" can locate your account to withdraw the money you wrote the check for. The presenting bank is the one used by the person you wrote the check to when he either cashed or deposited it. If the presenting bank didn't have that number, it might not know what or where "The John Doe Bank and Trust" is, and the bank you bank at might not be able to find your account.
2007-04-20 01:48:37 · answer #1 · answered by cross-stitch kelly 7 · 0⤊ 2⤋
Answering because search pulls this up and the 'best answer' is WRONG: That's your bank's fractional number. These days it's not used very much, it's a holdover from the old days when checks were sorted by hand instead of by a computer.
2015-06-23 13:06:51 · answer #2 · answered by Blazebird 2 · 1⤊ 0⤋
they go all over the country to a specific place the secret quarnetz you might want to put it
2007-04-20 01:41:08 · answer #3 · answered by Anonymous · 0⤊ 0⤋