Savings Account Routing Numbers, Explained

Do Savings Accounts Have Routing Numbers?

How Do You Find the Routing Number on a Savings Account?

• Your check: Some savings accounts have printed checks, and the bottom of your paper checks should list the routing number and bank account number.
• Your bank’s website: There may be an FAQ section or other area on the bank’s website listing the routing number.
• Your bank’s online account portal or app: In many cases you can log in and see your routing number within your account overview

What Is a Savings Account Routing Number?

What Do the Numbers in a Savings Account Routing Number Mean?

• The first four digits indicate the location of the Federal Reserve Bank that oversees the financial institutions in a certain area 
• The next four digits identify your financial institution, or the ABA identification number 
• The last digit is the check digit number

What Are Savings Account Routing Numbers Used For?

• Setting up direct deposit to have your paycheck deposited into your savings account 
• Having a tax refund deposited to your account
• Transferring money to pay for bills like a mortgage payment 
• Authorizing recurring payments or withdrawals, such as payments for subscription services
• Linking another one of your bank accounts to your savings accounts so you can easily transfer money to and from accounts
• Making wire transfers to a U.S. account, such as when wiring money to an escrow account during the mortgage closing process
• Ordering or reordering checks
• Making international wire or money transfers

Can a Routing Number Change?

• Update your routing number for any relevant recurring bills or subscription accounts so you don’t accidentally miss any payments
• Contacting your employer (like the HR department) to let them know your routing number changed and to direct your payments using the updated information
• Update any other automatic withdrawals, such as ones for mortgage or credit card payments
• Order new checks if you regularly use them, and get rid of old ones
• Keep any relevant financial accounts current so you have the information on hand when you need it

The Takeaway

3 Money Tips

1. Because online banks don’t have the overhead costs that brick-and-mortar banks have, they may offer a higher savings account interest rate. Just keep an eye out for minimum balance requirements and monthly fees.
2. An emergency fund is a key financial safety net. Aim to have three- to six-months worth of living expenses tucked away in a separate account that earns interest, but allows you to access the money if needed (such as a high-yield savings account). In some situations, it may be appropriate to have up to 12 months of living expenses saved.
3. To get into the savings habit, consider having 10% of your paycheck directly deposited into your savings account. Or, set up a small automatic recurring transfer from your checking account into your savings account on the same day each month.