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:
“We only seem to learn from Life that Life doesn’t matter so much as it seemed to do—it’s not so burningly important, after all, what happens. We crawl, like blinking sea-creatures, out of the Ocean onto a spur of rock, we creep over the promontory bewildered and dazzled and hurting ourselves, then we drop in the ocean on the other side: and the little transit doesn’t matter so much.”
—D.H. (David Herbert)
“In many ways, life becomes simpler [for young adults]. . . . We are expected to solve only a finite number of problems within a limited range of possible solutions. . . . It’s a mental vacation compared with figuring out who we are, what we believe, what we’re going to do with our talents, how we’re going to solve the social problems of the globe . . .and what the perfect way to raise our children will be.”
—Roger Gould (20th century)