Since 1910, the American Bankers Association (ABA) has developed and managed the ABA routing number system. It was originally designed to facilitate the need for an organized method regarding the movement of funds from one financial institution to another using paper checks. However, as new payment methods were developed, such as wire and electronic transactions, the ABA routing system was further developed. Today, the ABA RTN system processes all bank related transactions and is used only in the United States.
An ABA Routing Transit Number (RTN) is a nine-digit code, which is used to identify specific financial institutions within the USA. The first four digits represent the Federal Reserve Routing Symbol, the following four digits represent the ABA financial institution identifier and the last digit is the check digit. The ABA RTN can also be used for incoming international wire transfers as each RTN has a matching SWIFT code. For more information about SWIFT click here.
To complete an international transaction to the United States, you will need the following details:
In case the ABA RTN is not known, a SWIFT code could be used instead.
In order to find the ABA RTN and account number, the beneficiary can simply take a look at his / her check book: