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Owning a bank account can be very beneficial. This is because having a bank account gives you the ability to deposit money, withdraw money, and pay bills. In addition to that, having a bank account also gives you the opportunity to receive benefits and discounts.
Because of this, keeping your bank account secure is of prime importance. One of the ways to keep your bank account secure is by knowing how to protect your bank account number. But what exactly makes a bank account number so important? And what do they look like? In this article, we will teach you all you need to know about a bank account number.
What Does a Bank Account Number Do?
A bank account number is an identification number used by banks to identify the account holder. The bank account number consists of eight to twelve digits and is usually printed on the back of a check, however some cases may have up to seventeen digits. You can also find them in bank statements as well as by opening your bank account via the bank's official website or mobile application.
Bank account numbers are necessary for many transactions that involve the bank. This includes depositing and withdrawing money, opening and closing accounts, paying bills, transferring money to other people, and many more.
What Does a Bank Account Number Look Like?
Different banks have different starting codes for different branches, to make it easier for customers to distinguish between different branches. Checks are written down by a check number that is written on the bottom of each page. The account number is at the bottom of each page. There's usually three sets of numbers appearing on the lower part of a check that is typed in a computer-readable way.
From the left, you'll see a nine-digit routing number. This is the nine-digit number that your bank gives you when you run an electronic banking transaction. The number in the middle is your account number; it is used to identify you as a consumer. The third number is the number on the back of your check; it's the number on your pay stub. Financial institutions use checking account numbers to automatically set up automatic payments for employees and make sure the deposits are given to the correct accounts. These mostly consist of numbers, but they may sometimes have other characters, including letters.
Keeping Your Bank Account Number Secure
Much like passwords and PIN codes, bank account numbers are easy to lose or forget. Therefore, it is crucial that you always remember your bank account number. You should also never share your bank account number with anyone, as it can be used to make fraudulent transactions and cause harm to your financial stability.
You can do this by keeping your bank account number in a safe place, such as on a piece of paper. You can also store it in a safe digital wallet or digital locker. The most effective ways to protect against hackers who are trying to steal account numbers are by using password managers and using multi-factor authentication systems.