A Charles Schwab routing number is a nine-digit code that identifies the financial institution where an account is held. This number is used to facilitate electronic funds transfers, such as direct deposits, wire transfers, and automated clearing house (ACH) transactions. For example, the routing number for Charles Schwab Bank is 124403299.
Charles Schwab routing numbers are important because they ensure that funds are transferred to the correct account. They also provide a secure and efficient way to move money between accounts. In the past, routing numbers were used primarily for paper-based transactions, but they are now used for electronic transactions as well.