A routing quantity, also called an ABA quantity, is a nine-digit code that identifies the monetary establishment the place an account is held. For instance, the Rockland Belief routing quantity for accounts held at their important workplace in Rockland, Massachusetts is 211371592.
Routing numbers are essential as a result of they permit monetary establishments to switch funds electronically between one another. They’re additionally used to course of checks and different paper-based funds. In 1910, the American Bankers Affiliation (ABA) established the routing quantity system to facilitate the change of checks between banks.
