How Are Checking Account Numbers Assigned to a New Account?
The Basics Checking accounts are known as “deposit” accounts opened with a bank or other financial institution. A person takes the cash to a bank and deposits it into his or her checking account. Afterward, the person is able to write checks to retailers and other vendors that are paper representations of that money in exchange for goods and services. This is done because carrying around large amounts of cash can be dangerous. If cash gets stolen, it is not recoverable. Checking accounts put your money under the protection of the bank and, in turn, the Federal Government. Routing Numbers The “routing numbers” on your check identify the financial institution with whom your checking account is with. These are the first nine numbers on the bottom of your check on the left side. The routing numbers are always nine digits and never more or less. A checking account with Bank of America will have a different routing number than a check with Wachovia, but all Bank of America checking accounts
