Account Number on Check
What does it mean?
An account number on check is usually located at the very bottom of each individual check. After you have opened your new checking account you will be allocated a unique number for your checking account. Checking acounts can be opened at all banks and other financial institutions.The account number on check is part of a long sequence of numbers. It is a very important number, and you will need it for a variety of financial transactions. Transactions such as setting up automatic payments to creditors, and making online or telephone payments may require your account number. You can save yourself time, and prevent fruatsratinig delays by knowing where the account number on check is located and what it means. This also means you don’t have yet another set of numbers to memorize.
Account Number on Check
What does it mean?
To find the unique account number on check, you first need to understand what the sequence of numbers on your checks mean. On each check, starting from left to right, you will find a bank routing number, usually 9 digits in length. This routing number is your bank’s address . Normally, the check number comes next. Usually the check number contains 4 digits, followed by your bank account number. However your bank account number on check might appear before the check number, depending on your financial institution. The routing number, which always comes first, and the bank account number on check are always the longest to appear on bank checking accounts. These numbers are magnetically encoded, allowing them to be processed by high speed machines. This is known as the MICR (Magnetic ink Character Recognition) system.
When cashing or depositing a check, sometimes the bank will write the account number on check on the back. If the check is subsequently dishonored, this account number on check provides a reference to the person cashing the check. The bank can then reverse the transaction and go to the referenced account to recover the money.
Always correctly store checks still in use, and do not leave them in unsecured areas such as your vehicle. Many people wrongly believe that the glove compartment of a car is a safe place to store a check book. Take care when writing cheques to ensure all the details are correct. Do not leave large unfilled spaces when you write amounts in figures or words. To be safe, fill any empty space remaining with a horizontal line. This will ensure that no changes can be made to the check amount. Never sign a blank check under any circumstances!
Additionally, ensure that you correctly close any checking accounts no longer in use. It is very important that all checks, including duplicate stubs, are shredded. This is because your bank account number on check could result in identity theft, loss of money or even fraud, from which you will need to prove your innocence.
Finally, always remember that any zeros, both at the beginning or at the end, are very important to include when locating your account number on check .