Search results
Results From The WOW.Com Content Network
ZZZZ is the first 4 digits of your routing number (you can skip the leading zeroes). YYYY is the next 4 digits of your routing number (the last, 9th digit, is control digit). XX is the city/state where the bank is located (I believe its based on the original HQ, I know that for WF in California its 11, which is San Francisco).
Your account number is not private. It is printed on every check you write. It is true that it's not private, but it's also not completely public as you generally know who you give checks to and you aren't giving it to just anybody. That said, you're taking a small risk each time you give out a check.
That means that the same account number could be in use by basically every bank simultaneously - which makes it impossible to find out the bank from the account number. A similar situation would be to find a street name from the house number - obviously, there are many streets that have a given number.
If you want to pay a bill for him, then you need the company the bill belongs to and your friend's account number on the bill. You will never need your friend's bank account nor routing number. To clarify, it is about paying a small business rather than a friend. Also, my bank does not give the option to distinguish between "pay a business" and ...
It seems to me that your answer is saying that you have to either be a reputable biller with ACH access or you have to print illegal checks. In the first case nothing is wrong; in the second case the bank who cashed the check is responsible for the fake check. So isn't the consumer pretty safe giving his account number away here? –
Here's how you can abuse this system to learn how much someone has in their bank account, if you know their account number. You call up and check whether they've enough money to cash a $10,000 check (note that you don't actually have to have a check for $10,000 in your hands; you just need to know the account number).
The RTN number is derived from the bank's transit number originated by the American Bankers Association, which designed it in 1910.[1] I am going to assume that the euphemistic ABA Number has been shortened by whoever told you about it and called it the ABN. Perhaps American Bank Number. Either way, the technical term is RTN.
The name of the bank is redundant, because the credit card company can lookup the name of the bank with the routing number. Though having both eliminates a typo issue. My checks still have the old name of n=my credit union, because the routing number didn't change. It took several months for the name change to ripple though the financial system.
I already use Fidelity for my 401k and individual brokerage account so I'm pretty attracted to this idea of using Fidelity and dropping any standard "bank" account. I need routing/bank account numbers for a few bill payments and electronic payment deposits so I checked and they seem to support numbers which map to your brokerage account (https ...
A lot of it has to do with bank mergers, acquisitions, etc. over the years. In order to reduce the confusion generated with routing numbers changing, they are kept around. This happened to me when US Bank took over the bank I used after it failed. This was in the 2008-2009 timeframe and the routing number from the original bank is still used.