What is a Bank Of America Routing Number? In essence, the routing number you have to send or get money from Bank of America actually depends on whether your transaction or payment is international or domestic. Banks use different terms for both of these kinds of monetary transfers. Domestic means transactions happening in just one state, while international usually refers to monetary moves that happen outside of the United States and its possessions.
As mentioned earlier, when you pay money to Bank of America, the routing numbers of both parties will be different. However, for domestic remits, you can have a bank of america routing number that's located in just one state, or even just one county or two. This will mean that the recipient's banking information will match yours. For example, if you'd rather transfer funds from a Bank of America branch located in York, New York to a B of A bank account in Kansas City, then you can do that as well. Similarly, when you need to pay money into a bank account located in California, you can use a B of A routing number for the same transaction.
International remittances are a little more complicated. If you want to move large sums of money across borders, you have two options: use the routing number for a domestic transfer and use a different bank account number for a foreign transaction. This is especially important if the person receiving the payment isn't a US citizen, because then you'd have to use a US banking system's routing number for an international transfer, which means that transferring funds internationally will require a visa. Using a different routing number for each different country allows you to bypass this requirement.
Where Does Your Bank of America Routing Number Come From?
For some, however, ach routing numbers aren't enough. Sometimes, people prefer to have a bank account with an ABA bank routing number rather than using a traditional routing number. An a routing number looks like two separate alphanumeric characters, and it's used in international and domestic wire transfers. However, transfers between domestic transfers between foreign transfers require that the recipient be a resident of the country that the wire transfer is made to.
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For these kinds of transfers, a special bank called banks that issue checks (Chase) provide special bank routing numbers that are in their own private network that cannot be accessed by any other financial institution. That's why you can usually save money when you make international or multi-country money transfers with Chase. These routing numbers are different from your normal bank routing numbers, and they're only available to people working with Chase. If you want to use a regular bank for your everyday banking needs, you'll still be unable to access your savings account with the bank's regular routing numbers.
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Another option available for people who need a specialized bank routing number is that of direct linking. Some banks, including Chase, are members of the Direct Lending Association. This type of banking allows a bank to link its direct deposit program to another banking institution. When you open a savings account with Chase, you are given a routing number that is linked to its direct deposit program. Every time you visit the bank, your banking transactions will be debited from your direct deposit account, as will any deposits you make.
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While some people have problems opening accounts with Chase, others have no problems at all. The reason for this is that all of the banks on the American Financial Institutions' list (Chase, Bank of America, CitiBank, Washington Mutual, Wachovia, BBVA Compass, Fifth Third Bank, Fleet Bank, Key Bank, PNC Bank, MBNA American, Sun Trust Bank, Trustmark Bank, Fifth Third Bank) all use the same nine-digit routing number format. Every bank will give you a unique routing number as well as a generic EIN, although not every one of them will have a separate routing number for direct deposits. However, when you check with the bank's Web site or call their customer service, you may be asked to provide your routing number and EIN. It may seem very complicated, but the fact is that all banks need an EIN in order to process your electronic banking transactions, whether they are done electronically or by mail.
If you have any difficulties opening Chase accounts, you should contact the branch manager. In general, however, the process is very simple and straightforward. First, you will complete a basic application for an automatic overdraft. Next, you will give your routing number and EIN and the bank's computer system will check the numbers against the current inventory list to ensure that they are valid. Finally, if all is good, you will be authorized to withdraw the funds. You will also be asked to type in your PIN, which you should keep in a safe place and that will usually be required later to access your checking accounts.
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