The bank associated with the routing number 021201383 is Valley National Bank.
Understanding Routing Number 021201383
Routing numbers are nine-digit codes used in the United States to identify specific financial institutions during transactions. They are crucial for ensuring that funds are transferred to the correct bank. Routing number 021201383 is specifically assigned to Valley National Bank, a prominent banking institution located in New Jersey. This particular routing number helps facilitate various electronic transfers to and from accounts held at Valley National Bank.
Key Details for 021201383
| Attribute | Value |
|---|---|
| Routing Number | 021201383 |
| Bank Name | Valley National Bank |
| State/Region | New Jersey (NJ) |
| Purpose | Electronic transfers, including ACH, direct deposits, and wire transfers. |
Importance of Routing Numbers in Financial Transactions
Routing numbers, also known as American Bankers Association (ABA) numbers, play a vital role in modern banking. They are essential for:
- Direct Deposits: Employers use them to deposit paychecks directly into employees' bank accounts.
- Automatic Bill Payments: Utility companies and other service providers use them to debit payments automatically from your account.
- Wire Transfers: For sending or receiving funds quickly between different banks.
- Electronic Funds Transfers (EFTs): This encompasses a wide range of digital payments.
- Checking Account Transactions: Often found on the bottom of checks, alongside your account number.
It is crucial to use the correct routing number for any transaction to avoid delays or misdirected funds. You can typically find your bank's routing number on your checks, through your online banking portal, or by contacting your bank directly. For more general information about routing numbers and how they work, you can refer to reliable financial resources such as Wise.
