A routing and account quantity on a verify are very important identifiers that allow the processing of economic transactions. They’re encoded as Magnetic Ink Character Recognition (MICR) characters on the backside of a verify and include a nine-digit routing quantity, which identifies the monetary establishment the place the account is held, and a particular account quantity assigned to the account holder. For example, a verify might show the routing quantity “123456789” and the account quantity “987654321”.
This data is essential for making certain the safe and correct switch of funds. It allows banks to determine the account to which the cost ought to be credited and facilitates the automated processing of checks. The usage of MICR know-how has considerably improved the effectivity and accuracy of verify processing.
