Do Savings Accounts Have Routing Numbers?

Every savings account has a routing number, the nine-digit code that identifies your bank. If your savings and checking accounts are at the same bank, they usually share one routing number. What tells them apart is the account number. It’s easy to assume savings doesn’t have one, because savings accounts rarely come with checks, and checks are where most people first see a routing number.

Do savings accounts have routing numbers like checking accounts?

A routing number is always nine digits and identifies your bank or credit union. Many banks use a single routing number for every account. Larger ones may have several, depending on location or account type, often tied to the state where you opened the account. If your bank has more than one, its website or app will show the right one for your account.

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How to find your savings account routing number

You’ll need it to move money into savings from an outside account, such as a paycheck, a tax refund, or a transfer from another bank.

• On your statement. Your routing number is usually printed on your account statement, paper or electronic.
• In online or mobile banking. Most banks list it in the account details screen.
• By calling your bank. The number on the back of your debit card works. ’

Routing number vs. account number

To move money in or out electronically, you’ll need both. Your routing number identifies your bank. Your account number identifies your specific account, and its length varies from bank to bank. Think of a mailing address: the routing number is the city and state, and the account number is your street address.

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Can you deposit your paycheck into savings instead of checking?

Yes, if your employer’s payroll system allows it. Direct deposit forms ask whether the account is checking or savings, along with your routing and account numbers.

First check whether your bank limits withdrawals from savings. The Federal Reserve removed the federal six-per-month limit in April 2020, but banks can still set their own. Ally, for example, caps certain withdrawals and transfers from savings at 10 per statement cycle and may close an account that goes over more than occasionally. If you’ll be paying bills out of savings, your account agreement will say whether a limit applies.

Truist is the outlier. Its limit counts ATM and branch withdrawals too, so six trips to the ATM in a month uses up the allowance.

Bottom line

Your savings account has a routing number, and if it’s at the same bank as your checking account, it’s almost always the same one. You’ll find it on your statement or in your bank’s app. Pair it with your account number to set up a deposit.

What a savings account won’t do is build credit. Banks don’t report balances, deposits, or transfers to the credit bureaus, so years of steady saving look the same to a lender as none. That takes an account that reports. The Kikoff Credit Account reports to Equifax, Experian, and TransUnion, with no credit check to sign up and plans from $5 a month.