If you have just opened your first checking account and are new to the banking system, you will need to know its associated number, which is used in many transactions.
What is a Checking Account?
Checking accounts are money deposit accounts, that an individual can open with any financial institution, for the purpose of fast monetary transactions through multiple channels. These are business accounts, with a checkbook facility and no limits on the amount of transactions that can occur.
Unlike a savings account, the purpose of depositing money is not earning interest, but to facilitate business transactions.
How to Find its Associated Number on a Check?
Each person with a checking account with a bank, has the facility to write checks to pay dues. Checks are numbered for identification purpose. Every check given to the account holder, has information of the account number and the associated bank's number. If you have a new checking account, chances are that you haven't memorized the associated number yet.
There are some online transactions or banking transactions which need you to enter that account number. Internet banking uses the account numbers, mostly. When you don't have it memorized already, you can find it on a bank-issued check, for your account. If you look for the number on a debit card, you won't find it there mostly, as it is rarely printed.
If you look carefully at a check issued by the bank, with which you have an account, you will notice that there are numbers printed there, separated by symbols. These are printed using magnetic ink and read by the MICR (Magnetic Ink Character Recognition) system. Within these numbers, your account number is placed.
Number Position On the Check
You can know your number by the elimination method and knowledge about standard protocol regarding printing of those numbers. The string of numbers at the bottom of a check contains three important pieces of information. First part has the 'bank number', second part is the account number, and the third part is the check number.
To know your account number, first write out the whole number series on a piece of paper and ignore symbols in between. Count the first nine numbers of the whole string and circle them. This is the bank number. The last part in the set of numbers is the check number, which should match with the number on the upper right hand side of the check.
On the piece of paper, strike out the last part which identifies with the check number. Once you do that, what is left is your account number. Include any zeroes that are written at the start or end, as part of the number. The number length can vary to a maximum of 17 numbers. Most banks have the digits to be a string of 8 or 9 numbers.
It is a simple matter of reading it off the bottom of the check. You can also find the number listed on the documents you receive, after account opening or on the bank statements you receive periodically. Make sure you do not divulge your number unnecessarily and also keep your checkbook safely. This will insulate you from check frauds and other thefts.