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Three Generations
of Service
Picture of PHPaul
posted
I want my small Federal tax refund direct deposited to my savings account.

I have checking and savings at the same bank.

Am I correct in assuming that the "routing number" identifies the bank and would be the same for both checking and savings?

It's printed on my checks/deposit slips but not on any paperwork I have for savings.




Be careful when following the masses. Sometimes the M is silent.
 
Posts: 11779 | Location: Downeast Maine | Registered: March 10, 2010Reply With QuoteReport This Post
thin skin can't win
Picture of Georgeair
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Probably, but why not just send first to checking and transfer?



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Posts: 9777 | Location: Madison, MS | Registered: December 10, 2007Reply With QuoteReport This Post
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quote:
Am I correct in assuming that the "routing number" identifies the bank and would be the same for both checking and savings?


Only a maybe. Some banks have a different routing number for each town or location. Most banks have a main routing number that can be used for all transactions. To be on the safe side call your bank tomorrow. IRS is not going to process your refund any faster from a Sun to a Mon as refunds seem to be sent twice weekly. I check all my tax clients refund status to insure all returns were processed properly & I usually see the twice weekly routine.


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Posts: 3660 | Location: Nashville, Tennessee | Registered: December 16, 2004Reply With QuoteReport This Post
Delusions of Adequacy
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My credit union lists the routing numbers right on the home page of their website. Might be a good place for a quick check.




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Posts: 17692 | Location: Virginia | Registered: June 02, 2006Reply With QuoteReport This Post
Just Hanging Around
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We have 2 checking accounts, and 1 savings account at a bank. 1 checking account, and 3 savings accounts at a credit union. All are in the same town.

Routing numbers at the bank are all the same, account numbers are different.

Routing numbers at the credit union are all the same, account numbers are different.


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Posts: 2681 | Location: NE Kansas | Registered: February 24, 2007Reply With QuoteReport This Post
Ammoholic
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The google is your friend on this. Search “<bank name> routing number” and you’ll likely get several responses. I’m a big fan of using the one on your actual bank’s website. Some banks only link one routing number. Others (perhaps that have bought multiple other banks) have different routing numbers in different areas. Some have different routing numbers for ACHs than for wires. Your bank’s website should tell you what you need to know.

The reason I suggest the google is because it seems like it least some banks have poorly organized websites with lousy search functions. It can probably be found by going to your bank’s website, but it can probably be found faster with google. Just make the result you use is on your bank’s website.
 
Posts: 4115 | Registered: February 23, 2011Reply With QuoteReport This Post
Just because you can,
doesn't mean you should
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It' should be on the bottom of your deposit slip. The first one is bottom left, the routing number, the second to the right is the account number.
 
Posts: 5203 | Location: North GA | Registered: August 22, 2002Reply With QuoteReport This Post
Three Generations
of Service
Picture of PHPaul
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quote:
Originally posted by 220-9er:
It' should be on the bottom of your deposit slip. The first one is bottom left, the routing number, the second to the right is the account number.


It is on my checking account deposit slips, but not on my savings account deposit slips. Hence the question.




Be careful when following the masses. Sometimes the M is silent.
 
Posts: 11779 | Location: Downeast Maine | Registered: March 10, 2010Reply With QuoteReport This Post
Tinker Sailor Soldier Pie
Picture of Balzé Halzé
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quote:
Originally posted by Georgeair:
Probably, but why not just send first to checking and transfer?


That would be too easy.


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Posts: 22382 | Location: Ski Town, Utah | Registered: October 29, 2012Reply With QuoteReport This Post
Dances With
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I suggest you phone the bank and ask them how to get it direct deposited to your savings account.
 
Posts: 8012 | Registered: October 26, 2009Reply With QuoteReport This Post
Three Generations
of Service
Picture of PHPaul
posted Hide Post
quote:
Originally posted by Georgeair:
Probably, but why not just send first to checking and transfer?


What...and then have to write out a check AND a savings deposit slip AND do the math in my check register?

Who do you think I am, Mayer Rothschild?

Razz Big Grin




Be careful when following the masses. Sometimes the M is silent.
 
Posts: 11779 | Location: Downeast Maine | Registered: March 10, 2010Reply With QuoteReport This Post
On the DL
Picture of V-Tail
posted Hide Post
quote:
Originally posted by PHPaul:
quote:
Originally posted by Georgeair:
Probably, but why not just send first to checking and transfer?
What...and then have to write out a check AND a savings deposit slip AND do the math in my check register?

Who do you think I am, Mayer Rothschild?

Razz Big Grin
Same bank? You can't do the transfer online, from checking to savings? No writing required. OK, math, but you can pay a second grader to do that for you. Razz



A mind is a terrible thing.
 
Posts: 21247 | Location: Central Florida (near Orlando) | Registered: January 03, 2010Reply With QuoteReport This Post
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posted Hide Post
quote:
Originally posted by PHPaul:
quote:
Originally posted by Georgeair:
Probably, but why not just send first to checking and transfer?


What...and then have to write out a check AND a savings deposit slip AND do the math in my check register?

Who do you think I am, Mayer Rothschild?

Razz Big Grin


If your bank has online banking, you can log in to that and transfer the amount between your checking and savings accounts with a couple clicks. No slips. No writing. No math.

I have everything deposited into my checking account. I then have regular savings transfers set up through online banking to coincide with my paycheck deposits. And when I get something extra deposited, like a bonus, overtime, or tax refund, and I want to make a special transfer to savings, I just go online and do a one-time transfer with a few clicks.

Similarly, when I want to use savings to cover something, I just pay for it with my debit card or credit card, and then go online and transfer the funds out of savings with a few clicks.
 
Posts: 23138 | Location: Northwest Arkansas | Registered: January 06, 2008Reply With QuoteReport This Post
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My bank has multiple branches, and the branches each have their own routing number... my savings account was started in one branch, and my checking account was started in another, so they have different routing numbers. IE, I'd call the bank to find out for sure.


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Posts: 1456 | Location: The Sticks in Wisconsin. | Registered: September 30, 2012Reply With QuoteReport This Post
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Posts: 3032 | Location: in the Atlanta metro area | Registered: September 10, 2006Reply With QuoteReport This Post
Tinker Sailor Soldier Pie
Picture of Balzé Halzé
posted Hide Post
quote:
Originally posted by V-Tail:
quote:
Originally posted by PHPaul:
quote:
Originally posted by Georgeair:
Probably, but why not just send first to checking and transfer?
What...and then have to write out a check AND a savings deposit slip AND do the math in my check register?

Who do you think I am, Mayer Rothschild?

Razz Big Grin
Same bank? You can't do the transfer online, from checking to savings? No writing required. OK, math, but you can pay a second grader to do that for you. Razz


Even if they aren't the same bank, transferring between accounts is easy. I routinely transfer money between my Navy Federal and USAA accounts.


~Alan

Acta Non Verba
NRA Life Member (Patron)
Family, Guns, Country

"My guns are always loaded."
~R.G. Justified

What whiskey will not cure, there is no cure.
 
Posts: 22382 | Location: Ski Town, Utah | Registered: October 29, 2012Reply With QuoteReport This Post
Member
posted Hide Post
quote:
Originally posted by PHPaul:
quote:
Originally posted by Georgeair:
Probably, but why not just send first to checking and transfer?


What...and then have to write out a check AND a savings deposit slip AND do the math in my check register?

Who do you think I am, Mayer Rothschild?

Razz Big Grin


What did you do the last 60 times you got a refund? Big Grin


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Posts: 7165 | Registered: January 17, 2011Reply With QuoteReport This Post
Three Generations
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Picture of PHPaul
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quote:
Originally posted by wcb6092:
What did you do the last 60 times you got a refund? Big Grin





But this time I don't need to spend it on anything so I'm having an Adult Moment and putting it in savings.




Be careful when following the masses. Sometimes the M is silent.
 
Posts: 11779 | Location: Downeast Maine | Registered: March 10, 2010Reply With QuoteReport This Post
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Ok, I can handle this (I should be able to given I've worked around banking tech for some 25 years). I used to work for SunTrust Banks Inc many years ago so lets take an example from there.

SunTrust's main routing and transit number is: 0631-0215. 0631 represents the Federal Reserve District ID SunTrust is assigned to, and 0215 is the branch ID (Downtown Orlando location). Banks have 'many' R&T numbers, and generally acquire additional R&T's as mergers and acquisitions occur.

With all that said, your best solution is to call your bank and verify the R&T associated with your savings account. I wouldn't simply assume it to be the same as your checking account, although it may actually be.


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Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter
 
Posts: 28468 | Location: Orlando, FL | Registered: April 30, 2006Reply With QuoteReport This Post
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No, they are not always the same.




 
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