What Is an Account Number? (original) (raw)

When you get a bank account, your financial institution gives it an account number that differentiates it from other customers’ accounts. Understanding your account number is important since you’ll use it for common personal finance tasks such as making money transfers and setting up direct paycheck deposits and automatic bill payments.

In this article, we at the MarketWatch Guides team will explain how account numbers work and tell you several methods for finding yours. We’ll also look at some best practices for keeping your bank account information safe.

Key Takeaways

• Your account number often has between eight and 17 digits and is specific to your account at a particular bank.
• A routing number indicates the credit union or bank where your account is, but it isn’t specific to your account.
• The account and routing numbers combined tell where to deposit or withdraw money.
• You can find your account number on paper checks, banking documents and digital banking platforms.

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What Is a Bank Account Number?

An account number usually consists of eight to 17 digits that identify your bank account at your financial institution. Whether you have a savings, money market or checking account, it will have a unique account number that you should keep secure.

Knowing this information is important for indicating the right account to use for receiving funds, making deposits and paying bills electronically.

What Is a Routing Number?

Making financial transactions requires your routing transit number in addition to your account number. Assigned by the American Bankers Association (ABA), a routing number has nine digits and tells which bank or credit union has the account that’s in the transaction. Your financial institution may have different ABA routing numbers for some regions. Routing numbers are usually public, unlike account numbers.

Together, your account and routing numbers identify your account and financial institution. This makes it possible to move money in and out of the account in various ways, including using checks and making electronic transfers.

How To Find Your Account Number

You can find your account number by looking at a personal check or bank account document or using your bank’s website or mobile banking app. While it may be less convenient and require a trip to the branch, contacting your bank is another option.

Look at Paper Checks

If you have a checkbook for your checking account or money market account, you can quickly look at one of your personal checks to find your account number and bank routing number. The bottom of a check will include the magnetic ink character recognition line that the Federal Reserve requires for all checks.

This bottom line shows three sets of numbers that help a financial institution verify and properly process your check. The first set of numbers on the left is the routing number for the check issuer, and your bank account number appears second. Your check number appears last and is the shortest in the series of numbers.

Review Bank Account Documents

Your bank or credit union should provide monthly account statements that list your deposits, withdrawals, interest and fees for the cycle. It may mail statements to you, or you might download them through your online banking website.

You can look at a recent bank statement and typically find your account number under a section called “Account Summary” or something similar. Your account number usually appears prominently near the top of each page, and it should have a label for easy identification.

Other bank account documents may have your account number too. For example, your bank may have sent a welcome letter when you opened the account. This document should show the account number and other important details.

Check Your Bank’s Website or Mobile App

If you have an online checking account or don’t have bank documents on hand, try logging in to your bank’s online portal or mobile app. Look at your list of accounts to identify the one you need the account number for.

Your bank will likely immediately show the last four digits of your account number beside the account name, but you’ll need to select the account to see more details. Once your account and transaction details appear, look for a link or button that says you can view more account information or see your full account number.

Steps vary by bank, so check your financial institution’s website since it likely shows instructions for finding your account number. For example, Bank of America has an interactive demo, Chase provides a video and U.S. Bank gives you step-by-step instructions.

Ask Your Financial Institution

You can also reach out to your bank or credit union for help finding your account number. You can try to first call the bank’s customer support number and identify yourself with the representative. However, your bank might ask you to visit a local branch and bring photo identification to prove you’re the account holder.

When Will You Need Your Account Number?

Your account number works for various financial transactions in person, over the phone, online or even through the mail. These can include:

• Depositing or withdrawing money at a bank branch
• Receiving direct deposits
• Paying bills
• Sending wire transfers
• Using other funds transfer services

Making Everyday Deposits and Withdrawals

If you’re just using your debit card, you won’t need your bank account number for transactions. However, you may need it to make other banking transactions at a local branch or an ATM.

Depositing or withdrawing money at a branch usually requires filling out a deposit or withdrawal slip. If you’ve ordered slips for yourself, they may have your account number and other personal information already printed.

But if you get a blank slip at your bank, you’ll need to write your account number and other details, such as the deposit or withdrawal amount, the date and your name. You’ll also sign the slip.

When you use an ATM, your card and PIN give you access to your accounts. You likely won’t need to know your account number unless the bank requires you to put deposits in an envelope. In that case, the envelope may need to have your account number and other information on it.

Receiving Direct Deposits

Rather than waiting for a paper check that you have to cash, you can set up direct deposit and get money put in one or multiple bank accounts. This is a popular and convenient choice for receiving paychecks, government benefits and tax refunds. Direct deposit is also more secure since there’s no paper check for someone to potentially steal.

Setting direct deposit up requires providing your routing and bank account numbers and possibly other bank details to the organization paying you. Here are a few ways you may do this:

You may get a direct deposit form from the payer or your bank to fill out. In addition to your account information, this form usually asks for these details:

• Name
• Contact details
• Social Security number
• Signature
• Date

The payer might also request a voided check to verify your account information. You may either mail the form, which risks your account number being exposed, or hand it over in person.

You might have the more convenient option of setting direct deposit up on the website of your bank or the organization that’s paying you. For tax refunds, another possibility is providing the information when you e-file your tax return or arrange for some other one-time deposit.

If you want to set up direct deposits for government benefit payments, you can usually do it over the phone. You’ll need information such as your claim number and Social Security number to verify your identity.

>> Related: Learn more about direct deposits

Paying Bills Electronically

Whether you’re shopping online or paying routine bills, the payee may give the option to pay from a checking or savings account rather than mail a check or use a credit card. This is called an Automated Clearing House transfer, and it requires your routing and account numbers. You can make a one-time electronic payment for a purchase or set up recurring payments to avoid fees for forgotten bills.

Common options include providing your bank account details on the payee’s website, over the phone or on a payment slip that you mail. Banks often have online bill pay services you can use to set these payments up as well. Note that transfers out of your bank account can take a few business days to complete.

Sending Bank Wire Transfers

Bank wire transfers let you move money directly between two banks within or outside of the U.S. They’re known for being secure and ideal for large transfers, and in most cases, the money arrives in the recipient’s bank account within a few business days. Wire transfers usually require a fee that’s often higher for international transfers.

If you’re the recipient, the person sending money will need your contact and banking details. As a sender, you can usually set a wire transfer up through your bank’s website. The form will ask for the person’s contact information, bank account number and routing number for domestic wire transfers.

International transfers require the foreign bank’s code from the Society of Worldwide Interbank Financial Telecommunication, which serves the purpose of a routing number. Your bank may need more details to complete the wire transfer.

Using Other Money Transfer Services

You may also use your bank account number and routing number for money transfers through various services and apps. For example, you can link your bank account with PayPal to shop online and send money to others. Zelle and Venmo are peer-to-peer money-transfer apps often used to split bills and send gifts. Western Union is another popular service for sending money worldwide. Fees and transfer times vary with these services.

>> Related: Learn more about how to transfer money safely

Banking Safety

You’ll need to share your bank account number to complete several types of transactions, and you can run into trouble if this unique identifier gets in the wrong hands. This can happen if someone poses as a rep for your bank or another familiar business and tricks you into providing your account information.

Your account number could also be found through a data breach, on thrown-away banking documents or by hacking into Wi-Fi networks or banking sites you’ve used.

If the person knows both your account and routing numbers, they could try to withdraw money, get into your online banking account or steal your identity. The risks of experiencing identity theft, losing money and facing potential legal problems make safeguarding account details crucial.

How To Keep Your Account Number Safe

To help prevent fraud or a scammer withdrawing money after finding your account number and other personal information, you’ll need to know how to transfer money safely and keep your information private. Here are some best practices you should follow:

• Shred old banking documents and checks before you throw them away.
• Avoid giving account details to unknown people who contact you or to online shopping sites that don’t have a good reputation.
• Don’t log in to your online banking using someone else’s computer or a public Wi-Fi network.
• Keep your checkbook in a secure place and avoid carrying it with you if possible.
• Be aware of common scams that request your banking information for some payment or refund.
• If you can’t memorize your account number, at least store it in a physical safe or use a secure password manager so it’s not easy to find.
• Take advantage of multifactor authentication to protect your online and mobile banking accounts.
• Monitor your bank accounts and set up alerts so you can recognize and report unusual transactions right away.
• If you suspect someone is using your bank account, contact your bank, any company involved with the transaction and possibly the police.

>> Related: Learn more about the best online banks

FAQ: What Is an Account Number?

To find your account number, look at a paper check, a bank account statement or your online banking portal. If these options fail, ask the bank about your account number.

Your debit card usually won’t include your bank account number due to security concerns. You’ll instead find your 16-digit debit card number and expiration date on the front and the security code on the back.

Your account number can have as many as 17 digits, but eight to 12 is the most common. The number of digits will depend on the bank.

*Data accurate at time of publication.

Editor’s Note: Before making significant financial decisions, consider reviewing your options with someone you trust, such as a financial adviser, credit counselor or financial professional, since every person’s situation and needs are different.