| Financial Institution Routing Transit Number | | Description | Financial Institution Routing Transit Number is a unique nine-digit code, identifying the financial institution, designated for electronic funds transfer (EFT) of a person's federal wage, salary, or retirement payments.
Usage
Financial Institution Routing Transit Number is used in to identify a specific financial institution designated by a person for receipt of electronic funds transfer (EFT) payments. These unique identifiers are managed by the American Bankers Association (ABA).
Each recipient of federal wage, salary, or retirement payments shall designate one or more financial institutions or other Authorized payment agents and provide to the DoD information necessary for the recipient to receive EFT payments through each institution so designated.
Financial Institution information is also used for EFT of savings allotments sent to financial institutions and discretionary allotments to non individuals (DoD FMR par. C00502, C00503). | |