A fidelity routing number describes the financial institution that services your account. This number is located on the back of all checks, and it usually starts with "A". For example, if your bank uses the Automated Clearing House Association (ACHA) process, you might see an "A BBB Colorado".
A fidelity routing number refers to an asset-identifier used by financial institutions for debit and credit card transactions. A routing number refers to an electronic transaction gateway through which multiple financial institutions transfer funds to your bank. Each financial institution that uses your routing number acts as a "receiver" for the other banks, and this information is communicated over the Internet. You can view your individual nine-digit fidelity routing number at the lower-right corner of your checks.
The routing information is necessary if you wish to make a purchase online. This type of routing instructs the financial institution that you are authorized to take out a specific amount of money from your checking account. In order to complete a transaction such as this, your financial institution sends you a pre-authorization phone call. If your routing number is "A", your bank will instruct your financial institution to phone you back with a specific amount of money in your checking account.
Understanding Fidelity Routing Numbers
If your routing numbers begin with "C" or "D" your bank will instruct you to take a direct deposit of your account balances. The direct deposit instruction tells you where to deposit your checks before they are transferred to your savings account. Direct deposits are made once a month, usually on the banking business's local banking day. Direct deposits help you avoid the costly mistake of overdrawing your account.
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There are two primary types of fidelity routing. The first method is known as mechanical banking. In mechanical banking, your financial institution does not change any information about your account numbers or account routing. You make direct deposits into your account using a check valve (or a direct withdrawal). If you choose to use a credit card for your transfers, your bank will supply you with a unique account number and routing number for credit card transactions. Mechanical banks are often used by individuals who do not want to or are not able to manage their own accounts.
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The second form of fidelity routing is known as electronic banking. Electronic banks replace the traditional manual banking with online banking transfers. When you set up your electronic account, your bank will supply you with an authorization code or password to enter in during transactions. This authorization code or password is needed for all electronic bank transfers, as well as any deposits into your account. With this setup, all of your monetary transfers go through your bank and they cannot change any information regarding your account numbers or routing numbers.
Some of the largest banks in the US use electronic banking to transfer funds between its customers. These are New York Stock Exchange (NYSE) members. In electronic banking, the customer enters in the customer name and account number of the person to whom the funds have been transferred. Each transaction is then handled between the two banks automatically, and is often free of charge.
Fidelity routing numbers may not seem significant at first; however, they can prove to be extremely important if you are transferring funds between mutual fund accounts or any other type of business transactions that involve large sums of money. As you grow your business, you will most likely establish several different routing numbers for different locations throughout your company. Each of these numbers should belong to your brokerage firm. If you lose one of your numbers, you could run into some serious problems that can affect your ability to complete a transaction.
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