What is BMO Harris’ Routing Number?
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Summary:
Gain insights into BMO Harris Bank’s routing number, its crucial role in banking transactions, and its effectiveness in simplifying financial processes for customers. Understanding how to determine your BMO Harris Bank routing number for various types of transactions is an essential step for seamless financial management.
BMO Harris Bank, originally founded in 1882, has a long-standing history in the banking sector. Initially established as N.W. Harris & Co. it underwent several name changes, becoming Harris Trust and Savings Bank in 1907 and later Harris Bank in 1972. BMO Harris Bank, as it is known today, is a significant financial institution in North America, ranking as the 8th largest bank by assets. It offers a comprehensive range of services, including personal and commercial banking, global markets, and investment banking services to over 13 million customers.
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What is BMO Harris Bank’s routing number?
BMO Harris Bank’s routing number is 071025661.
What is BMO Harris Bank’s routing number?
The routing number for BMO Harris Bank is 071025661.
Note: BMO Harris Bank only has 1 routing number for all financial transactions, but this isn’t always the case. Many times, a bank will have multiple routing numbers, one for wire transfers and others for various other purposes, such as local branch checks.
International wire transfers
For international wire transfers, you’ll need to use a SWIFT code instead of a routing number. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. BMO Harris Bank’s SWIFT Code is HATRUS44.
What is BMO Harris Bank’s SWIFT code?
The SWIFT for BMO Harris Bank is HATRUS44.
What is a routing number?
A routing number is a nine-digit numerical code crucial for identifying banks in financial transactions. This unique code ensures that funds are sent to the right bank. The routing number’s first four digits signify the Federal Reserve routing symbol, indicating the Federal Reserve district where the bank is located. The subsequent four digits, known as the ABA institution identifier, are assigned by the American Bankers Association and are vital for differentiating between banks. The final digit, the check digit, is used to confirm the routing number’s validity.
The importance of routing numbers is twofold
| Identification of Financial Institutions | Routing numbers act as unique identifiers for financial institutions. This role became increasingly important with the rise of paper check processing. The use of routing numbers made it simpler to identify which banks were issuing payments on checks, streamlining the transaction process. |
| Facilitating Payment and Clearing Processes | The routing number system played a crucial role in ensuring accurate and efficient financial transactions. It enabled banks to correctly pay patrons on behalf of check-writers. If a check was unfulfillable, the routing number guided the involved parties to the appropriate bank for payment resolution. This improved the efficiency and accuracy of financial transactions, especially when paper checks were the primary non-cash payment method. |
Routing numbers and what they mean
Bank routing numbers consist of a nine-digit sequence and are commonly located at the base of personal checks. Each digit within this code carries a specific significance in identifying financial institutions and their locations. This numerical string facilitates the accurate processing and clearance of financial transactions.
| First two digits | Identify the bank or credit union responsible for clearing financial transactions |
| Next two digits | Represent the bank’s processing center and its location |
| Next four digits | Serve to identify your bank |
| Last digit | Acts as the check digit, verifying the routing number’s validity |
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How to Find Your BMO Harris Bank Routing Number
- Check Your Checkbook: The simplest way to locate your BMO Harris Bank routing number is by checking your checkbook. The routing number is typically the nine-digit code found on the bottom left corner of your checks.
- Online Banking: If you utilize online banking, log into your BMO Harris Bank account. The routing number is often displayed on your account summary page or within the account details section.
- BMO Harris Bank Mobile App: If you have the BMO Harris Bank mobile app, you can find your routing number there. It’s usually available in the account information or settings area.
- Bank Statements: Your monthly bank statements from BMO Harris Bank may also include the routing number. It’s typically printed on the first page of the statement.
- BMO Harris Bank Website: Visit the BMO Harris Bank website. They may offer a routing number lookup tool or have a section on their website where this information is provided.
- Contact Customer Service: If you’re having trouble finding your routing number through these methods, you can always contact BMO Harris Bank’s customer service. They can provide you with the routing number, but you might need to verify your identity for security purposes.
- Importance of Correct Routing Number: It’s crucial to use the correct routing number for various banking transactions like direct deposits, automatic bill payments, and wire transfers to ensure they are processed without any issues.
Pro Tip
On tech and finance: “Technology has been the main driver of a significant transformation in the financial transactions landscape in recent years. The introduction of mobile and internet banking has completely changed how people conduct business, offering previously unheard-of accessibility and convenience. Financial operations are streamlined by technology, which enables peer-to-peer transfers, automated bill payments, and real-time transactions. People can use online banking services, check their bank statements, or get in touch with their bank directly to find their routing number. Banks usually only have one routing number, but certain transactions—such as wire transfers or direct deposits—may call for distinct routing numbers. The security of online and mobile transactions is improved by innovations like mobile wallet technologies, encryption, and biometric authentication. By using secure networks, enabling multi-factor authentication, and routinely monitoring their accounts, consumers can reduce their risk of fraud and unauthorized transactions.” Ray Pierce CEO-Founder at Zippycashforcars
FAQ
What is BMO Harris Bank Known For?
BMO Harris Bank is renowned for its comprehensive range of banking services, catering to both personal and commercial banking needs. It offers a variety of financial products including checking and savings accounts, loans, and credit services. BMO Harris Bank is particularly noted for its commitment to providing high-quality customer service and its involvement in the communities it serves. Additionally, it is recognized for offering competitive rates and a broad array of banking solutions, making it a preferred choice for many customers in its operational regions.
What Markets Does BMO Harris Bank Serve?
BMO Harris Bank serves a wide market, primarily focusing on the United States, with a significant presence in states like Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Arizona, and Florida. It caters to a diverse range of customers, including individuals, families, and businesses, offering tailored financial services to meet the needs of these different groups. The bank’s market extends to both rural and urban areas, providing accessible and comprehensive banking solutions to a broad demographic.
What Kind of Bank is BMO Harris Bank?
BMO Harris Bank is a traditional retail bank and a subsidiary of the multinational investment bank and financial services company, Bank of Montreal. Headquartered in Chicago, it offers a full range of deposit, lending, and investment products. Unlike a federal credit union, BMO Harris Bank operates as a for-profit institution, focusing on providing a wide array of banking services to its customers. It is part of a larger banking group, which allows it to offer extensive services and products, often with the backing of international financial expertise.
Key takeaways
- BMO Harris Bank’s Single Routing Number: BMO Harris Bank utilizes a single routing number, 071025661, for all its financial transactions. This simplifies the process for customers, ensuring ease in conducting various banking operations like direct deposits and bill payments.
- International Wire Transfers: For international wire transfers, BMO Harris Bank uses a SWIFT code, HATRUS44, instead of a routing number. This code is essential for international banking transactions, facilitating the smooth transfer of funds across borders.
- Understanding Routing Numbers: A routing number is a nine-digit numerical code crucial for identifying banks in financial transactions. Each part of this code has a specific purpose, ensuring the accurate processing and clearance of transactions. This system is vital for the efficient operation of the banking sector.
- Finding Your BMO Harris Bank Routing Number: To locate your BMO Harris Bank routing number, you can check your checkbook, access your online banking account, use the BMO Harris Bank mobile app, refer to your bank statements, visit the BMO Harris Bank website, or contact customer service. The correct routing number is essential for smooth financial transactions.
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