Routing Transit Number
A routing transit number (RTN) is a nine digit bank code, used in the United States, which appears on the bottom of negotiable instruments such as checks identifying the financial institution on which it was drawn. This code was designed to facilitate the sorting, bundling, and shipment of paper checks back to the drawer's (check writer's) account.
The RTN is also used by Federal Reserve Banks to process Fedwire funds transfers, and by the Automated Clearing House to process direct deposits, bill payments, and other such automated transfers.
The RTN number is derived from the bank's transit number originated by the American Bankers Association, which designed it in 1910.
Read more about Routing Transit Number: ABA Number Management, Routing Number Format, MICR Routing Number Format, Fraction Form, Canadian Transit Number
Famous quotes containing the words transit and/or number:
“There’s that popular misconception of man as something between a brute and an angel. Actually man is in transit between brute and God.”
—Norman Mailer (b. 1923)
“In this world, which is so plainly the antechamber of another, there are no happy men. The true division of humanity is between those who live in light and those who live in darkness. Our aim must be to diminish the number of the latter and increase the number of the former. That is why we demand education and knowledge.”
—Victor Hugo (1802–1885)