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For many people, bank accounts are an important part of their lives. These accounts give them the opportunity to save and manage their money. As such, the security of a bank account is of great importance. You will have to be aware of the frauds that can take place when you have a bank account, such as phishing scams and identity theft. To protect yourself from such threats, you should know the number of digits that a bank account number can have.
This article will explain the meaning of this and how to determine the length of a bank account number. Keep reading to learn more!
What is a Bank Account Number?
A bank account number is a unique identifier that is used to identify a bank account. It is used to uniquely identify the account and to make it easy for users to identify their bank accounts. Banks use these digits to form a unique string of numbers.
You will usually have these numbers assigned by the bank to your account. However, this is not always the case. Some banks assign numbers to accounts when they are opened. Others use random numbers or the last four digits of your social security number as a means of identification. Still, it is vital to keep your bank account number secret just as you would keep your social security number secret. If someone finds out your bank account number, they can access your money and use it without your permission.
Difference Between a Bank Account Number and a Routing Number
Your bank account number is similar to a routing number. Both numbers are used to identify the accounts. However, a routing number is used by the bank to send out the information about your account to other banks. On the other hand, your bank account number is used by you to check your balance and withdraw money from your account.
Routing numbers are necessary so banks and other financial institutions can track the movement of money in the system. These are usually necessary for a number of reasons, such as tax payments, figuring out paychecks, confirming wire transfers and deposits, and more. Routing numbers are usually a set of nine digits.
How Long Should a Bank Account Number Be?
On average, these numbers generally are a string of eight to twelve digits. So, no, it is unlikely that your bank account number is only 7 digits. With that being said, there are some accounts that can be assigned as much as seventeen digits. You will find your account number on your checks, as well as by going online to access your account online through their official website, using the bank's mobile app, or by contacting a representative directly.
How to Protect Your Bank Account Number
Your bank account number is a vital part of your identity. If someone finds out this number, they can easily access your money and use it without your permission. As such, you should protect this number by always keeping it in a safe place. It is best to write down your bank account number on pieces of paper that are in a safe place. Keep these pieces of paper close to you and locked off from others.