The routing number for Citibank is a nine-digit code that facilitates the routing of electronic payments through the Federal Reserve’s automated clearing house (ACH) network. For instance, if you’re setting up direct deposit for your salary, your employer will need your Citibank account number as well as the bank’s routing number.
Its significant because it ensures funds are transferred quickly and securely from one bank account to another. The routing number system was introduced in the 1970s to standardize the electronic exchange of financial transactions, revolutionizing banking operations.