If you have ever had to write a check, you may have noticed a strange series of numbers at the bottom of the check. This is called a bank check digit, and it is an important part of the check that helps to prevent fraud and errors.
What is a Bank Check Digit?
A bank check digit is a number that is added to the end of a bank routing number, account number, or check number. This number is calculated using a mathematical formula that takes into account the other numbers in the sequence. The purpose of the check digit is to verify that the other numbers are correct and to help prevent errors or fraud.
How is a Bank Check Digit Calculated?
The formula used to calculate a bank check digit is different depending on the type of number it is being added to. For example, the formula used to calculate a check digit for a bank routing number is different than the formula used for an account number or check number.
Generally, the formula for calculating a check digit involves adding up the other numbers in the sequence and applying a mathematical function to the result. The result is then subtracted from a multiple of 10, and the remainder is the check digit.
Why is a Bank Check Digit Important?
A bank check digit is important because it helps to prevent errors and fraud. If a number in the sequence is entered incorrectly, the check digit will not match the calculated value, and the transaction will be rejected. This can help to prevent errors in processing and ensure that funds are credited to the correct account.
In addition, a bank check digit can help to prevent fraud by making it more difficult for criminals to create fake checks or alter existing checks. By adding a check digit to the sequence, it becomes more difficult for criminals to guess the correct number or make changes without being detected.
Examples of Bank Check Digits
Here are some examples of bank check digits:
- Bank routing number: 111900659 (check digit = 9)
- Account number: 123456789 (check digit = 7)
- Check number: 101 (check digit = 2)
How to Check a Bank Check Digit
If you want to check the validity of a bank check digit, there are several methods you can use. One method is to use an online check digit calculator, which will automatically calculate the check digit for you based on the other numbers in the sequence.
Another method is to use a manual calculation method, which involves adding up the other numbers in the sequence, applying the mathematical function, and then subtracting the result from a multiple of 10. If the remainder is equal to the check digit, then the check digit is valid.
Conclusion
A bank check digit is an important part of a check that helps to prevent errors and fraud. By adding a check digit to the sequence of numbers, it becomes more difficult for criminals to guess the correct number or make changes without being detected. If you want to check the validity of a bank check digit, there are several methods you can use, including online calculators and manual calculation methods.