ShmoopTube
Where Monty Python meets your 10th grade teacher.
Search Thousands of Shmoop Videos
Mutual Funds Videos 165 videos
The Russell Index is a series of indices that tracks the progress of stocks in a given basket. Aw. We were hoping it tracked adorable Jack Russell...
The Investment Company Act of 1940 regulated and ensured fair dealings in the mutual fund industry.
What is a Country Basket (Index Fund)? Investing internationally can be a challenge, as foreign exchange, different accounting rules, time zones an...
Finance: What is a Routing Number? 20 Views
Share It!
Description:
You've seen routing numbers on checks before, but what do they actually do? Hit play to find out.
- Social Studies / Finance
- Finance / Financial Responsibility
- College and Career / Personal Finance
- Life Skills / Personal Finance
- Finance / Finance Definitions
- Life Skills / Finance Definitions
- Finance / Personal Finance
- Courses / Finance Concepts
- Subjects / Finance and Economics
- Finance and Economics / Terms and Concepts
- Terms and Concepts / Accounting
- Terms and Concepts / Banking
- Terms and Concepts / Bonds
- Terms and Concepts / Careers
- Terms and Concepts / Company Valuation
- Terms and Concepts / Credit
- Terms and Concepts / Derivatives
- Terms and Concepts / Econ
- Terms and Concepts / Education
- Terms and Concepts / Forex
- Terms and Concepts / Index Funds
- Terms and Concepts / Insurance
- Terms and Concepts / Investing
- Terms and Concepts / Marketing
- Terms and Concepts / Metrics
- Terms and Concepts / Mutual Funds
- Terms and Concepts / Regulations
- Terms and Concepts / Tax
- Terms and Concepts / Tech
- Terms and Concepts / Trading
- Terms and Concepts / Trusts and Estates
Transcript
- 00:00
finance a la shmoop what is a routing number of a routing number is so that
- 00:09
wired monies can you know like find their way home yeah think of them like [maze game]
- 00:14
the smell of worm to Canadian geese when you write a check or wire money or do [worms and Canadian geese]
- 00:20
almost anything financial these days the dough is given a kind of custom [card getting swiped]
- 00:24
electronic signature and basically a number a big fat one like this one yeah
Full Transcript
- 00:29
and the numbers mean specific things like on a paper check the routing of the
- 00:34
dough you're paying to Lana sim for um you know services rendered comes in two [breakdown of a check]
- 00:41
pieces there's a nine digit routing number aka our TN aka routing transit
- 00:48
number which is here and that number is then mapped to your specific account
- 00:53
number which is here why did you need this number why do you need it at all
- 00:58
well when you suddenly see an item on your bank statement for a payment of [bank statement document]
- 01:02
$350 to Yamaka supply limited and you're about as Jewish as the Pope well you may [Pope Francis in the Vatican]
- 01:09
want your bank to be able to track that sucker down because it was fraud on your
- 01:13
account I'd like to be able to prove that you were not in fact the one who
- 01:16
authorized that payment so your bank can refund you you know your hard-earned
- 01:21
cash all right there we go much better yeah I am
Related Videos
What is bankruptcy? Deadbeats who can't pay their bills declare bankruptcy. Either they borrowed too much money, or the business fell apart. They t...
What's a dividend? At will, the board of directors can pay a dividend on common stock. Usually, that payout is some percentage less than 100 of ear...
How are risk and reward related? Take more risk, expect more reward. A lottery ticket might be worth a billion dollars, but if the odds are one in...
GED Social Studies 1.1 Civics and Government