A routing and account quantity on a verify are very important identifiers that allow the processing of monetary transactions. They’re encoded as Magnetic Ink Character Recognition (MICR) characters on the backside of a verify and encompass 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. As an illustration, a verify might show the routing quantity “123456789” and the account quantity “987654321”.
This info is essential for guaranteeing the safe and correct switch of funds. It permits banks to establish the account to which the cost needs 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.
