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Placeholder Lesson:
** This lesson is generated with AI assistance and approved by Danny Nelson. This lesson will communicate the essence of the topic for now until Danny can create a full lesson. **
An account number is a unique sequence of digits assigned by a financial institution to identify a specific checking, savings, or other type of bank account.
It helps distinguish one customer's account from others within the same bank or credit union, ensuring accurate processing of transactions.
Typically found at the bottom of checks, right after the routing number, it is essential for activities like direct deposits, electronic transfers, and bill payments.
Account numbers vary in length, usually between 8 to 12 digits, depending on the bank, and may include additional characters for security.
Protecting your account number is crucial to prevent unauthorized access and potential fraud.