The bank with routing number 044202505 is Peoples Bank.
Routing numbers, also known as ABA (American Bankers Association) routing transit numbers, are nine-digit codes used to identify financial institutions in the United States. They are essential for processing various transactions, including direct deposits, wire transfers, and automated clearing house (ACH) payments.
Details for Routing Number 044202505
This specific routing number is associated with Peoples Bank, headquartered in Ohio. It supports both ACH transfers and wire transfers, making it suitable for a wide range of electronic banking transactions.
Here's a breakdown of the information for routing number 044202505:
| Category | Details |
|---|---|
| Bank Name | Peoples Bank |
| Routing Number | 044202505 |
| State | Ohio (OH) |
| ACH Transfers | Yes |
| Wire Transfers | Yes |
Understanding Routing Numbers
Routing numbers serve several critical functions in the banking system:
- Direct Deposits: Employers use routing numbers to send paychecks directly to employee bank accounts.
- Bill Payments: Customers use them to set up automatic bill payments from their accounts.
- Wire Transfers: For sending large sums of money quickly and securely, routing numbers are crucial for identifying the destination bank.
- ACH Payments: These include various electronic funds transfers, such as direct debits and credits, processed through the Automated Clearing House network.
It's important to use the correct routing number for the specific type of transaction and the correct branch, as some banks may have multiple routing numbers depending on their location or internal banking operations. To verify a routing number, it's always recommended to consult official bank statements, the bank's website, or contact the bank directly.
For more information on routing numbers and how they work, you can refer to resources like Wise's guide on routing numbers.
