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Aba Transit Number

 
Banking Dictionary: Aba Transit Number

Numeric coding facilitating check clearing among banks. The ABA numbering system, managed by the American Bankers Association, assigns a unique identifier to each U.S. Financial institution. The ABA number is printed as the numerator (upper portion) of a fraction appearing in the upper right corner on checks; the denominator is the bank's Check Routing Symbol which identifies the Federal Reserve Bank servicing that financial institution. See also Magnetic Ink Character Recognition.

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Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more