What Is a Wire Transfer Routing Number?

Routing Number is also called Routing Transit Number, which translates into remittance route number, remittance path number or routing number in Chinese, and is called a lot. It is mainly used in the United States and North America. It is specifically referred to as the ABA Number in the US financial system. It is a financial institution proposed by the American Bankers Association (ABA) under the supervision and assistance of the Federal Reserve System (FED). The identification code is mainly used for routing confirmation of bank-related transactions, transfers, clearing, etc.

Routing Number

Routing Number consists of 9-bit value (8-bit content + 1-digit check code). For international dollar clearing, there are two mainstream systems: FEDWIRE and CHIPS. The bank code in the CHIPS system is called the UID, and the bank in the FEDWIRE system. The code is called ABA Routing Number, and as long as you know one, you can perform USD clearing. For example, the ABA Number of the Bank of China New York Branch is 026003269, and 0326 is its UID.

Canadian and other foreign banks have registered numbers in the United States, which is the ABA Number, which is their Routing Number. The US check we receive is usually printed on the front left corner

The Routing Number, SWIFT Code, and IBAN are identification codes for international banks, financial institutions, or their accounts, but they are used in different regions because of different standards followed by financial systems around the world. For example, remittances from Europe to China do not require Routing Number and IBAN, because Chinese banks mainly use SWIFT Code, so as long as you provide the SWIFT Code of the receiving bank in China. If you are sending money from China to foreign exchange, you need to choose the corresponding identification code according to the region where the payee's bank is located. For example, to send money to a bank account in the United States through a bank in China, you only need to provide the Routing Number of the Bank of the United States; banks in the United States generally only use the Routing Number. If you are sending money to Europe, especially Germany, you only need to provide the IBAN code of the beneficiary bank. For remittances to countries or regions outside North America and Europe, the SWIFT Code of the beneficiary bank must be provided, because banks in these countries and regions generally use SWIFT Code.