A financial institution routing quantity is a nine-digit code assigned to every monetary establishment by the American Bankers Affiliation (ABA). It identifies the particular financial institution and department the place an account is held. The “Financial institution of America routing quantity Florida” refers back to the routing quantity utilized by Financial institution of America branches within the state of Florida. For instance, the routing quantity for Financial institution of America’s major department in Miami is 063100012.
The routing quantity is crucial for processing digital funds, corresponding to direct deposits, wire transfers, and on-line invoice pay. It ensures that funds are despatched to the right financial institution and account. Previous to the implementation of routing numbers within the Sixties, processing paper checks was a a lot slower and error-prone course of.
