A routing number is a nine-digit code that enables financial institutes to verify one another. This code will let banks know that they are sending money to the right place. When you want to transfer money from one bank account to another, a routing number is one of the things you need. Read below for more information on what a routing number is and how it works.
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Routing Number 101
These security codes help banks and credit unions identify one another when you make a wire transfer. The routing number will depend on what institute you bank with. The American Bankers Association (ABA) is the one that founded routing numbers back in 1910. First, they were designed to verify check processing end points. However, there are several different things such as: ordering checks, paying bills, or setting up recurring deposits that need this code.
If you bank with Synovus Bank, they only have one routing number to keep an eye out for. Their routing number is: 061100606.
How to Find It
Normally, you’ll be able to find your banks routing number at the bottom of your check. However, if you don’t have one to look at you can check the institutes website, or by contacting their support team. Be sure that you’re using the right code when you’re making a money transfer. If you use the wrong code it can lead to your transaction being delayed, cancelled, or sent to the wrong place.
Even if Synovus Bank only has one code to be aware of, there are many institutes that have more than 1.
Multiple Routing Numbers
It’s not odd that financial institutes can have more than one routing number. There are many reasons as to why they have more than one. For example, larger banks like Citi Bank, Wells Fargo, or Bank of America have multiple codes. Reasons as to why they have multiple can be because they merge with other banks, or because they are spread out nationwide.
Keep in mind, there are several small banks or credit unions that can own more than one code as well. Many financial institutes use routing codes for many reasons. Plus, there are SWIFT Codes to be aware of as well. A SWIFT code is like a routing number for making international transfers.
Synovus Bank’s SWIFT code is: FICOUS44
Conclusion
When you want to make a money transfer, a routing number is just one of the many things you must have to make it possible. If you don’t know what your banks routing number is, don’t fret. There are several ways you’re able to find your financial institutes routing code. Additionally, if you want to be sure that your wire transfer is sent to the right location, be sure to double check the code before solidifying anything.
