An “MI Chase routing number” refers to a special nine-digit code used to identify a specific branch of Chase Bank in the state of Michigan. For instance, the Chase branch at 123 Main Street in Lansing, Michigan, might have a routing number of 012345678.
Routing numbers are essential for various financial transactions, such as direct deposits, wire transfers, and check processing. They ensure that funds are correctly routed to the intended destination. Historically, routing numbers were standardized in the United States through the American Bankers Association (ABA) in the 1910s.