In this post, we discuss APIs that can be used to find information about routing numbers. You’ll discover more about this and other things!
The American Bankers Association (ABA) issues nine-digit routing numbers to bank branches to identify their locations. The last three digits are the branch number, and the first six are the bank’s identification number. The transit number, ABA number, and routing number are other names for the same thing.
Consumers and businesses both use the routing numbers when paying bills electronically, whether through an app or online. For instance, while paying your utility payment online, you must enter your bank account details and routing number.
What Is A Routing Number?
A nine-digit identifier called a routing number is used to identify a bank or credit union during a transaction. It intends to hasten and simplify banking industry operations. Each bank has been assigned a special number. Banks can still be easily identified from one another despite sharing identical names because of their distinctive routing numbers.
Routing numbers are also used for direct deposit setup, automatic loan payments, and recurring transfers like bill payments. Instead of manually encoding the data, a data checker can be deployed more quickly and simply through an API. As a result, you don’t have to wait for the banks to formally answer in order to acquire this information immediately and in real-time.
Lets present the best 4 APIs for routing bank numbers!
Routing Number Bank Lookup API
This Bank Information API, used to connect to the system, is built to offer the most functionality with the fewest queries possible. You can see what occurs when you enter a routing number and account number into our system in the diagram below. Simply enter the routing number and the preferred payment method, such as ACH or Wire Transfer, and the system will return all the bank information related to that Routing number. Automation is the secret to streamlining contemporary corporate processes, so ZylaLabs created this routing number information API with simplicity in mind. The API may be used to perform bank details validation at each stage of your business process with just a few lines of code. You can utilize the code samples that our developers have created to quickly get started with the API.
Lyons Routing Number Verification API
Another bank information API that provides wire transfer bank information is the Routing Number Verification API by Lyons Commercial Data. Lyons Commercial Data makes available information about American financial institutions via its iBankRegistry dataset. The routing number is one of the specifics needed for a transaction to be processed successfully. You can get access to the secure data center that houses the iBankRegistry by using the Lyons Routing Number Verification API. As a result, you may access the necessary bank data to complete the transaction. Furthermore, it connects apps with crucial transaction processing data.
Auth API
Plaid’s Auth API easily obtains account information for reasons like setting up online ACH payments and other uses. It makes it simple to start credits or debits by enabling the acquisition of user checking or savings account information. As an example, other apps may let users pay you with the details from their bank accounts. Using Auth, a user may easily supply this information by validating it with their bank account. This API may conclude an ACH transfer from beginning to end when used in conjunction with additional ACH processing partners. It won’t be necessary to access or store information about a user’s bank account as a result. It is important to understand that the Auth API only functions with checking or savings accounts.
BNP Paribas Open Bank Project
Recently, BNP Paribas announced the launch of a Developer Portal that makes it easier to find resources from financial institutions, such as PSD2 compliant APIs. Developers can create customer-facing applications using the BNP Paribas Open Bank Project REST API without having to write specific code for each bank or kind of account. It includes techniques like creating a bank, an ATM, a Firehose account, an API configuration, and more.
