A vital component in financial transactions, a routing number for Citi Bank is a unique identification code assigned to each of its branches. It is a nine-digit number that serves as a bank identifier, analogous to a street address for a physical location.
Understanding the routing number and its relevance is crucial for seamless money transfers. It ensures accurate and efficient processing of transactions, whether it’s direct deposits, wire transfers, or bill payments. Historically, the routing number system gained prominence in the 1910s as a means to streamline interbank communication and facilitate check processing.