Here’s Your Equity Bank Routing Number
Written by
Marc Guberti
Edited by
Elizabeth Constantineau
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Your bank’s routing number comes into play for many financial transactions. Routing numbers are 9-digit numbers that help to identify a bank from other financial institutions. These numbers first entered the banking scene in 1910 as a way to bring more efficiency to the financial system. Equity Bank has over 70 locations, primarily in the midwestern U.S., and every account has the same routing number.
Equity Bank Routing Number
Equity Bank’s routing number is 101105354. Every Equity Bank account has the same number, regardless of location. You must also provide your bank account number for ACH and wire transfers to ensure the funds arrive in your account.
Where To Find a Bank’s Routing Number
The first place to look for your Equity Bank routing number is your checkbook. Each check features the bank’s 9-digit routing number, your bank account number and the check’s number in that order. You can find this information at the bottom of your check.
However, there are other options for finding your bank’s routing number. You can find your 9-digit number on your monthly bank account statement, along with your bank account number and your financial transactions for the statement cycle. Customers can also reach out to a bank’s customer support team to ask about the routing number. A representative can quickly let you know the bank’s routing number.
While those are good methods to find a bank’s routing number, the quickest path is the bank’s website. That’s certainly the case for Equity Bank. The financial institution lists its routing number at the footer of every page. Scrolling to the bottom of Equity Bank’s website will display the routing number, copyright and other information.
When You Will Need Your Routing Number
You will need your Equity Bank routing number for ACH and wire transfers. Your employer will need your routing number to send direct deposits to your checking or savings account. It’s also necessary for automated transfers, such as moving funds from your checking account to your brokerage account. You will also need your routing number to receive a tax refund or to send money between two different financial institutions.
ACH vs. Wire Transfers
ACH transfers and wire transfers both allow people to send and receive money, but they have two key differences: speed and price. ACH transfers are slower and can take up to three business days to arrive in your bank account. However, these transactions are free and are optimal for non-urgent expenses.
Wire transfers are quicker and are more suitable if you have to pay something right away. Funds from a wire transfer can arrive in your account within a few hours, but they’re expensive. You may have to pay $20 for a domestic wire transfer fee, and international wire transfers are even more expensive. Some banks also charge a fee just to receive funds from a wire transfer.
Equity Bank has a manageable $10 fee for incoming domestic wire transfers. The bank’s $20 fee for outgoing domestic wire transfers is average. Incoming and outgoing international wire transfers are $50 each, demonstrating how fees can quickly accumulate if you regularly conduct wire transfers. That’s why many people prefer ACH transfers, even though they take a little longer.
Routing Numbers vs. SWIFT Codes for International Transfers
Routing numbers and SWIFT Codes help distinguish financial institutions from each other. However, routing numbers are for domestic transactions, while Swift Codes are for international transactions. SWIFT Codes are also known as Bank Identification Codes (BICs) and identify the financial institution rather than the individual’s bank account.
Final Take
While large financial institutions like Bank of America, Member FDIC, have regional routing numbers, smaller banks tend to have a universal routing number that applies to all accounts. Since Equity Bank operates in select regions and focuses on the Midwest, the bank doesn’t need to have multiple routing numbers. It’s common for small regional banks and online banks to have only one routing number instead of several.
FAQ
Here are the answers to some of the most frequently asked questions about Equity Bank routing numbers.- What's the difference between a routing number and an IBAN?
- A routing number identifies banks and an IBAN designates which account will receive the money. Routing numbers are still the top choice for domestic transfers, but IBANs are gaining momentum in Europe and other international markets.
- What bank has routing number 101105354?
- The routing number 101105354 belongs to Equity Bank.
Information is accurate as of Sept. 24, 2024.Â
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
