An American Bankers Affiliation (ABA) quantity, often known as a routing transit quantity (RTN), is a nine-digit code that identifies the monetary establishment the place an account is held. This quantity is used to facilitate digital fund transfers, resembling direct deposits or wire transfers.
ABA numbers are important for the sleek functioning of the banking system. They be certain that funds are routed to the proper account and assist forestall fraud. The event of the ABA quantity system within the early twentieth century was a key issue within the development of digital banking.