Update:
In an attempt to improve accuracy, while still supporting payments by both ACH and Bank Wires we are giving clients the ability to indicate more than one routing number when entering or updating their bank information.
Banks like to make everything confusing but ACH (Direct Deposit) and Bank Wires have absolutely nothing to do with each other. They are two totally incompatible systems. Some banks will use the same routing number for both systems but many banks have a dedicated routing number just for bank wires. We can't pay you unless you give us the correct information. The new site should make is easier to keep routing numbers straight.
How can I find out what routing number to use?Well there are 600 banks and CU in the US alone and FedWire reports over 82,000 active routing numbers. The simple answer is we can't tell you. However you bank should know. In most instances the ACH (Direct Deposit) routing number is the same as the number on your check. Most banks use a different routing number of Bank Wires but some use the same routing number for both networks. The best option is to just check with your bank. Either go to your bank's homepage and enter "routing numbers" or "wire instructions" in the search box or call your bank's customer support. If you are trying to find your bank's Bank Wire routing number be sure to only use the words "Bank Wire" when searching or talking to customer support. Bank Wire has an exact specific meaning in the banking industry. Using generic terms like "fund transfer" or "deposit" is likely to get you incorrect information.
My routing number disappeared from my profile. What happened?When we split the bank records if we could determine the type of routing number we populated the correct field. To avoid potential issues if the type of routing number could not be determined we did not populate it. You will need to update your profile before you can place an order with a payment by ACH or Bank Wire.
Wait I can confused what field do I need to use? Do I need to enter them both? What if I don't know the Bank Wire routing number[/b]
You only need to populate the information for the payment option you wish to use.
If you only want to be paid by ACH then just enter the ACH routing number (Bank Wires will be blocked as a payment option).
If you only want to be paid by Bank Wire then just enter the Bank Wire routing number (ACH will be blocked as a payment option).
If you want to be able to use both payment options then enter both routing numbers.
If your bank uses the same routing number for both networks then enter the same number in both fields.
What happens if I enter the wrong routing number?Similar to incorrectly addressed postal mail, the fund transfer should return and we will be notified that the transfer failed. Depending on bank policies this can take up to 5 business days. The site will now show what we have as the name of the bank for that routing number and prevent using incorrect/invalid routing numbers.
Why the hell do banks have two totally different and incompatible networks to do essentially the same thing?Well that is a very good question. Answer ... banks.
As a courtesy here is a list of links we have found researching bank related issues. The links are provided as is, we take no responsibility for inaccurate information.
Bank Of America
ACH & Bank Wire Routing NumbersWells Fargo
ACH & Bank Wire Routing NumbersTD Bank
ACH Routing Numbers Wire Routing NumbersPNC Bank
ACH Routing Numbers Wire Routing Numbers