All verified financial institutions, such as banks and credit unions in the United States, have unique routing numbers. This might make you consider whether your credit card has a routing number. After all, a specific credit union or bank has issued your credit card. How to find credit card routing numbers?
Before that, you need to know whether your credit card has a routing number. In general, credit card accounts don’t use routing numbers. Since routing numbers identify definite financial institutions, you won’t find a credit card account with a routing number.
Let’s reveal the mystery of a routing number, how to spot it, and what numbers relate to your credit card.
Routing Numbers: What are They?
You might have heard of terms such as Capital One credit card routing number or something similar. Here, the routing number is associated with the bank or financial institution, not the credit card. What is a routing number, by the way?
A routing number is a 9-digit figure uniquely referring to a particular U.S. credit union, bank, or financial organisation. You might have to specify the bank’s routing number for transactions besides your savings or other account numbers. Remember that the U.S. banks and credit unions use routing numbers only.
Most banks across the world use corresponding IBANs or international bank account numbers. So, your employer might have asked for your bank’s routing number before arranging your direct deposit. This is because using a routing number beside your account number helps in the accurate money deposit to your bank account.
Especially for wire transfers, provide the right routing number to deposit your money into the deserving account. Otherwise, an unwanted issue might take place. However, only some financial institutions use a routing number.
Only federally chartered and state-chartered banks are allowed to own routing numbers. For your information, routing numbers appeared in the system in 1910 by the American Bank Association. Well, what kind of transactions require routing numbers?
You will need your bank’s routing number for getting direct deposits from your employer, recurring deposits between banks and other financial institutions, automatic bill payments, filing your taxes, etc. In addition, you need to use your bank savings or checking account number.
Does Your Credit Card Own Routing Numbers?
So far, you have learned that banks in the United States use routing numbers for valid reasons. Do credit cards have routing numbers, too? This common query might need clarification because banks and financial institutions issue credit cards. However, credit cards don’t carry routing numbers like financial institutions.
Instead, they carry a unique number sequence to identify themselves. On the other hand, a fraction of those credit card sequence numbers refers to the issuing bank or credit card company. The sequence range for specifying the issuing company generally starts after the first digit.
For example, an expert can tell whether you use a Mastercard, Visa, or American Express credit card by inspecting the dedicated sequence range.
When do you need the credit card routing numbers?
The respective payment platform might ask for a routing number when you set up a payment method using your credit card. For instance, you can transfer funds from your checking or savings bank account to your credit card, and the payment processor might require a routing number.
They ask for the bank’s routing number where your deposit account is. So, you must provide the bank or credit union’s routing number in this situation, as your credit card doesn’t have one.
Credit Cards Don’t Have Routing Numbers: Reason
Why does a credit card lack a routing number? This query may pop up in your head. However, the reason is not that complicated. Credit cards don’t require a routing number, so they don’t have it.
The role of a routing number is to ensure that transactions between 2 banks get completed securely. A check or wire transfer involves a routing and particular account numbers. On the other hand, a credit card utilises an account number, linking your card to all transactions.
Every credit card has its account number, and you can spot it on the front or rear side of the card. If you can’t see the credit card account number printed on the card, you can access the respective online portal. There, you can get the credit card account number.
Now, this account number can be used for processing payments. Thus, your credit card doesn’t require a routing number since funds are not transferred from one bank to another. You don’t use your funds from your bank account when you use a credit card.
Instead of that, the concerned bank grants you a specific credit limit. So, the bank pays the merchant completely. On top of that, you need to wait to pay the bank in full as a credit cardholder. You have to pay the bank when the billing comes up.
So, why doesn’t a credit card have a routing number? In simpler words, credit card transfers or payment settlements differ from direct deposits and wire transfers. This is why credit cards can’t have routing numbers.
How Can You Find a Particular Bank’s Routing Number?
Spotting your bank’s routing number is an easy job. Here’s how to find your bank’s routing number using the following documents:
- Inspect your chequebook and pay attention to a check’s bottom-left corner. Now, you should notice a 9-digit number, and that’s your bank’s routing number. In addition, you can see another number at the bottom-right corner of your check. That’s your checking account number.
- Moreover, you can get your bank routing number from the latest bank statements. Most banks specify their ABA routing numbers in statements. So, you can check bank statements to retrieve the routing number.
- On a related note, you can navigate to your bank’s official website. Apart from the ABA routing number, some banks mention their ACH or Automated Clearing House routing numbers for wire transfers.
- You can simply conduct a web search or Google your bank’s routing number. Otherwise, consider the free ABA Routing Number Lookup Tool to look for your bank’s routing number. Indeed, this tool provides you with all banks’ routing numbers.
- As a last resort, you can directly call your bank and ask for the routing number. The staff over the phone will help you.
How is a Routing Number Any Different from a Credit Card Account Number?
The routing number is related to a specific bank. Additionally, multiple accounts from a particular bank will utilise the same routing number for wire transfers. So, what’s the difference between a routing number and a credit card number?
On a contrary note, your credit card number involves a unique sequence number associated with your credit card only. A credit card generally doesn’t require a routing number because it involves different payment protocols and channels. Hopefully, this guide explains what a routing number is and why credit cards don’t require them.