What do the digits of my account number mean? (2024)

FAQs

What do the digits of bank account number mean? ›

Your bank account number is the primary identifier for the bank account. This is unique in nature and no two banks or account holders can have the same account number. Banks use different starting codes for their branches for easy segregation. In India, bank account numbers usually contain 11 to 16 digits.

This is what an account number looks like

The first two digits tell you the bank – Kiwibank is 38. The next four digits tell you the branch – for Kiwibank this ranges anywhere between 9000-9499. The next seven digits tell you the account number.

For instance, the first few digits may indicate the financial institution or the type of account, while the last few digits may represent the account holder's unique identifier. In some cases, specific digits may be reserved for internal use only.

The account number works in conjunction with the routing number. While the routing number identifies the financial institution's name, the account number—usually between eight and 12 digits—identifies your account.

Its 16 digit bank account number is a unique identity which denotes some key information like branch code and account type. At times, you may have to provide this 16-digit account number to execute various banking transactions.

The preceding zeroes are implied and usually dropped off of account numbers in order to not confuse customers and accounts for payroll firms understand that the zeroes are supposed to be there. As account numbers are the same as a customer's ID number, just the leading zeroes are different.

Every bank-related financial transaction requires a routing number and an account number. The routing number identifies the specific bank. The account number (usually 10-12 digits) refers to the client's account. Routing numbers enable financial institutions to track where funds originated and where they're going.

Importance of Your Bank Account Number

Transaction Accuracy: The account number is vital for accuracy in financial transactions, ensuring that money is sent or received correctly, whether you are setting up direct deposits, handling bill payments, or executing other bank-related financial transactions.

Most banks no longer allow others to check or know your bank account balance. However, some banks provide the account balance details when people simply call and request it. For instance, anyone knowing your account information can call the bank to verify the fund on a cheque.

Just because your bank account number alone doesn't make you vulnerable doesn't mean that you shouldn't protect it. You should. If a scammer had your account number and other info — perhaps your driver's license number and/or your home address — they might be able to make illegal purchases online.

How to verify a bank account number? ›

This is done through the verification of an identity number (or company registration number) against the bank account number supplied. That the bank account in question is presently open and active. That the bank account in question accepts debit and credit transactions.

If someone gains access to your bank account and routing numbers, they can use the information to fraudulently withdraw or transfer money from your account. They can also create fake checks, claim your tax return or commit other forms of financial fraud.

How Do You Find Out Your Account Number? You can find your bank account number on your bank statements, printed at the bottom of a paper check, or by logging on to the bank's website. If you can't find it in these ways, try visiting a bank branch in person.

It is impossible to get personal details from a bank account number and it is also illegal for the bank to disclose its clients' information to outsiders without the knowledge and approval of their clients. Unless ordered by a court order, there is no reason a bank would divulge the personal details of a client.

The first 3 digits of the account number are called the protocol number, and indicate the bank the account belongs to.

No, the last four digits of an account number alone cannot identify an account holder. That being said, if you call your bank and they ask for the last four numbers of your account in order to identify you, it's because they are looking at accounts that are registered with your phone number.

If you made a mistake with your routing or account number, the bank may catch the problem and reject the transaction. But in some cases the bank may miss it, and the money can be deposited into the wrong account. If that happens, contact your financial institution to try to fix the problem.

The full Account Number is very important when providing it to your Payroll Department and/or Vendors for payments. The 13-digit Account Number must be provided to insure proper credit and/or withdrawal. Account numbers are 13-digits long. Here is an example of a MICR line and a breakdown of its components.