Each routing number is unique to a particular bank, large banks may have more than one routing number for different states. ACH Routing Number: ACH Routing Number stands for Automated Clearing House (ACH). This routing number is used for electronic financial transactions in the United States. ...
Rather than settle transactions one-by-one, banks generally employ 7a companies that determine each bank's net debtor/creditor position over a large number of transactions and then settle those transactions simultaneously. Along the way, and central to this case, the parties charge each other ...