Yes, savings accounts do have routing numbers. A routing number is a nine-digit code that identifies your bank or credit union, not your individual account, so your savings account uses the same routing number as any other account you hold at that institution. You need it whenever money moves in or out electronically: direct deposit, tax refunds, bill payments, external transfers, and wires.
The routing number system was created by the American Bankers Association to direct money to the right financial institution, and LexisNexis Risk Solutions is the official registrar.1American Bankers Association. ABA Routing Number Credit unions use routing numbers the same way banks do. Because the number points to the institution rather than to you, it is not sensitive information on its own.
How to Find Your Savings Account Routing Number
There are several reliable places to look. Confirm the number before you use it, especially if you are setting up a recurring transfer or a wire.
In Your Mobile App or Online Banking
Log in and open your savings account. The routing number typically appears under a heading such as “account details,” “account information,” or “direct deposit,” alongside your account number.
On Your Statements
Monthly statements list the routing number near the top or in the account summary section. Electronic statements show the full number in the PDF.
On a Check
Most savings accounts don’t come with checks, but some do. If yours does, the routing number is the first nine-digit sequence printed along the bottom left, followed by the account number and then the check number.
Through the Federal Reserve’s Directory
The Federal Reserve maintains a free E-Payments Routing Directory. You can search by institution name, location, or routing number, and it covers both Fedwire and FedACH participants.2Federal Reserve Financial Services. E-Payments Routing Directory
By Calling Your Bank
If none of the above works, call the number on the back of your debit card or stop by a branch. Ask which routing number to use for your specific transaction, since some banks assign more than one.
Why Your Bank May Have More Than One Routing Number
A single institution can have several routing numbers. Larger banks sometimes maintain separate routing numbers for different states or regions, and some assign one number for ACH transfers and a different one for wire transfers.
ACH transfers move through the Automated Clearing House network in batches and generally settle in one to three business days. Wire transfers move individually between banks and usually clear the same business day. Using an ACH routing number on a wire transfer form, or the reverse, can cause the transfer to fail or be delayed. This matters most at large national banks operating across many states.
International wires don’t use ABA routing numbers at all. You need the receiving bank’s SWIFT or BIC code, which is an eight- or eleven-character identifier used for cross-border payments. If the recipient is in Europe, you will also need an IBAN. Your bank can supply its own SWIFT code, and the recipient should be able to supply theirs.
What Else You Need to Set Up a Transfer
Along with the routing number, you generally need:
- Your account number, the unique identifier for your savings account, typically eight to twelve digits.
- The legal name of the bank, which must match the routing number you provide.
- For direct deposit, sometimes the bank’s mailing address.
If you want your tax refund deposited into your savings account, enter the routing number and account number on your return and select “savings” as the account type.3Internal Revenue Service. Refund Inquiries 18 Check every digit. One transposed number can send your money to the wrong place.
What Happens If You Enter the Wrong Number
The consequences depend on the type of error.
- If a digit is missing or the number fails the system’s check-digit verification, the transfer will not go through. For tax refunds, the IRS will mail a paper check instead.3Internal Revenue Service. Refund Inquiries 18
- If the routing number is valid but the account number does not match a real account at that bank, the receiving bank will return the funds, usually with several business days of delay.
- If both numbers happen to match someone else’s account, the money may be deposited there. You would then need to work directly with the financial institution to try to recover it, with no guarantee of success.3Internal Revenue Service. Refund Inquiries 18
If you realize you made a mistake, contact your bank immediately. The sooner you act, the better your chances of correcting or recovering the funds.4Consumer Financial Protection Bureau. Money Transfer: Incorrect Information Provided
Your Rights If a Transfer Goes Wrong
The Electronic Fund Transfer Act and its implementing rule, Regulation E, protect you when something goes wrong with an electronic transfer to or from your savings account. You have 60 days after your bank sends the statement showing the error to report it.5Office of the Law Revision Counsel. 15 USC 1693f – Error Resolution Covered errors include unauthorized transfers, incorrect amounts, computational mistakes by the bank, and transfers that should have appeared on your statement but didn’t.
Once you notify your bank, it must investigate and report back within 10 business days. If it needs more time, it can extend the investigation to 45 days, but only if it provisionally credits your account within the first 10 business days so you are not left without your money.6Consumer Financial Protection Bureau. Procedures for Resolving Errors If the bank finds an error occurred, it must correct it within one business day.
New accounts get longer windows. For errors involving transfers within the first 30 days after your first deposit, the bank has 20 business days for the initial investigation and up to 90 days for the extended one.6Consumer Financial Protection Bureau. Procedures for Resolving Errors
A Note on Monthly Transfer Limits
If you remember the old six-transfer-per-month rule for savings accounts, that federal cap is gone. The Federal Reserve eliminated it in April 2020 by removing the limit from the definition of “savings deposit” under Regulation D.7Federal Register. Regulation D: Reserve Requirements of Depository Institutions Individual banks are still allowed to impose their own limits and charge fees for exceeding them, so check your account terms before setting up recurring transfers. Under Truth in Savings rules, your bank must disclose any withdrawal fees when you open the account and give at least 30 days’ notice before adding or increasing them.8FDIC. VI-3 Truth in Savings