How to route a routing number is a question that almost all consumers will ask at some point when they need to change their financial institution. There are actually different ways that this can be done. It will depend on where the routing numbers originated. In most cases the original routing number is changed by the institution but the PXB or branch office still has the previous routing number.
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How you want to do it depends on which financial institutions you transfer money through and what their method of sending your checks is. There are basically three methods of checking: electronic transfer, right-hand-side or left-hand corner. To indicate the routing number correctly for your account, you simply need to ensure you've got the correct routing numbers from your original financial institution, not the new one or branch office where you initially opened the account. For electronic transfers you need to check the routing numbers on the top left-hand corner of your screen.
When you are sending checks by phone, it's a little more difficult since you only have a single routing number assigned. However, there are still different routing numbers for different regions. If you are transferring funds to a PXB, the number you use is always the left-hand corner. In order to change the routing number, all you need to do is call the PXB and tell them to redirect the funds to your new account.
Different Regions Routing Number System
Your financial institution might also use a nine-digit routing number. If they do this, the actual number will be printed on a special nine-digit authorization letter that is used by the branch office. This letter must then be presented to the recipient. They will provide the appropriate authorization to access their account. Different regions will also have different region-specific nine-digit routing numbers.
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However, in today's technology-driven business world, most banks have already switched to using the master routing number (MRN). This particular number is applied to each individual account. This means that when an agent from one location calls a customer's primary bank, the agent is allowed to enter the individual's account details. These digits will then be transferred to the primary banking location, where the transaction will be processed.
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Some transfers are inter-branch transfers, which require additional authorization at each branch. For these transfers, the caller's originating bank calls the branch office to obtain an authorization. Once authorization is obtained, the caller can then enter the account details directly into the ATM machine. Today, most financial institutions can process these transfers quickly and efficiently due to their centralization over different areas and their widespread use of unified connectivity.
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One of the largest uses for unified connectivity is to facilitate inter-bank transfers. A major problem that banks experience with the traditional wire transfers is the time it takes for the transfers to go through. Because many banks have a wide area network (WAN) rather than a local one, transferring large amounts of money through this method can take up to a few hours. This is because different branches might have to share WAN bandwidth. However, if an individual transfers his money to one branch via an internet connection rather than through physical wires, the transfer can occur instantly.
All across the US, different financial institutions are adding new numbers to their cards to facilitate faster transactions. For example, the New York Stock Exchange (NYSE) recently began issuing a special "NA" card in response to recent regulations limiting the amount of trading done by brokers in different states. Aside from facilitating inter-branch transfers, these new "NA" cards are used for smaller cash transactions such as checks or purchases and are often issued by banks with branches throughout different states.
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