A routing number, like Wells Fargo California’s 121000248, is a nine-digit code that identifies a specific financial institution and facilitates electronic fund transfers (EFTs).
Routing numbers ensure accurate and efficient transfers between banks, enabling transactions such as direct deposits, wire transfers, and bill payments. Historically, the American Bankers Association introduced the concept of routing numbers in 1911, revolutionizing the banking industry’s ability to process transactions swiftly and securely.