Bank Code Verified

011201335, Routing Number for TD BANK NA, LEWISTON, ME

Routing Number: 011201335 (Please note that this number is no longer in service. Kindly refer to the new Routing Number provided below)

New Routing Number: 211274450

Date of Revision: 062711

Bank: TD BANK NA

Address: P.O. BOX 1377

City: LEWISTON

State: ME

Zip: 04240-1377

Phone: (877) 898-7821

Understanding Routing Numbers and Their Significance in Banking TransactionsHave you ever wondered how your money gets from one bank account to another? How does that online payment magically appear in your friend’s account instantaneously?

The answer lies in a series of numbers known as routing numbers. In this article, we will explore the significance of routing numbers in banking transactions and delve into the history of TD Bank NA, one of the prominent financial institutions in the United States.

Topic 1: Understanding Routing Numbers and Their Significance in Banking Transactions

Routing numbers, also known as ABA numbers or transit numbers, play a crucial role in the smooth functioning of modern banking transactions. These nine-digit codes uniquely identify financial institutions and are used to process various transactions, including direct deposits, wire transfers, and electronic fund transfers.

A routing number consists of three parts. The first four digits represent the Federal Routing Symbol, which identifies the Federal Reserve Bank that serves the financial institution.

The next four digits indicate the ABA Institution Identifier, which identifies the specific bank or credit union. Finally, the ninth digit is called the Check Digit and is used to validate the entire routing number.

Now, let’s explore the significance of routing numbers in various banking transactions:

1. Direct Deposits: When you receive your salary or any other payment directly into your bank account, your employer needs your routing number to initiate the transfer.

The routing number ensures that the funds are directed to the correct financial institution. 2.

Wire Transfers: Sending money domestically or internationally through wire transfers requires the use of routing numbers. These numbers help in identifying the recipient’s bank and facilitate the quick and secure transfer of funds.

3. Electronic Fund Transfers: Whether you’re making online payments or setting up automatic bill payments, routing numbers are essential.

They ensure that the funds are transferred accurately and reach the intended recipient. 4.

Check Processing: When you write a check, your routing number is printed at the bottom. This number allows the recipient’s bank to verify the validity of the check and process it accordingly.

Routing numbers are vital in ensuring the smooth and efficient flow of funds between different financial institutions. They serve as a key identifier in the vast network of banking transactions, allowing for seamless transfers and accurate processing.

Topic 2: A Brief History of TD BANK NA

TD Bank NA, known for its iconic green logo and exceptional customer service, has a rich and diverse history that spans over a century. Let’s take a journey through time to explore the milestones and achievements of this esteemed financial institution.

1. Foundations: The roots of TD Bank NA can be traced back to 1852 when Portland Savings Bank was established in Portland, Maine.

Over the years, the bank went through several mergers and acquisitions, solidifying its position in the regional banking industry. 2.

Name Changes and Expansions: In 1955, Portland Savings Bank changed its name to Peoples Heritage Bank to reflect its expanding operations. This change was followed by several mergers, including mergers with Maine National Bank and The Bank of Boston Maine.

These alliances strengthened the bank’s presence in the New England region. 3.

TD Bank Acquisition: In 2008, a significant milestone occurred when TD Bank Financial Group acquired Commerce Bancorp, Inc., which included both Commerce Bank and TD Banknorth. This acquisition marked the entry of TD Bank into the U.S. market, and TD Banknorth was eventually renamed TD Bank NA.

4. Growth and Awards: Since then, TD Bank NA has experienced tremendous growth and success.

It has expanded its footprint throughout the East Coast, becoming one of the top ten banks in the United States. Along the way, TD Bank NA has received several accolades for its customer service, including being named the Best Regional Bank in North America multiple times.

The strength and success of TD Bank NA can be attributed to its customer-centric approach, innovative solutions, and commitment to community development. With a relentless focus on putting customers first, TD Bank NA continues to grow and evolve, providing a seamless banking experience to millions of individuals and businesses.

Conclusion:

In this article, we explored the significance of routing numbers in banking transactions and took a brief journey through the history of TD Bank NA. Routing numbers provide a unique identifier for financial institutions, facilitating the fast and accurate transfer of funds.

TD Bank NA, with its rich history and customer-centric approach, has established itself as a trusted financial institution, providing exceptional service to its customers. As the banking industry continues to evolve, routing numbers and institutions like TD Bank NA will play a vital role in enabling seamless transactions and empowering individuals and businesses worldwide.

Topic 3: Key Functions of Routing Numbers

Routing numbers, also known as ABA numbers or transit numbers, serve several crucial functions in the banking industry. Let’s dive deeper into these functions and explore the significance of routing numbers in various banking transactions.

1. Identifying Financial Institutions: One of the primary functions of routing numbers is to identify financial institutions.

Each routing number is unique to a particular bank or credit union, allowing for accurate identification during transactions. When you provide your routing number, it ensures that the funds are directed to the correct financial institution, avoiding any delays or misrouting.

2. Facilitating Direct Deposits: Direct deposits have become increasingly popular for receiving payments, such as salaries, pensions, or government benefits.

Your routing number is essential in ensuring that these funds are directed to your bank account accurately. When you provide your employer or the paying agency with your routing number, they can initiate the direct deposit process, and the funds will be deposited directly into your account.

3. Enabling Wire Transfers: Wire transfers are a vital tool for sending funds quickly and securely, both domestically and internationally.

Routing numbers play a critical role in facilitating these transfers by identifying the recipient’s bank and the specific branch where the funds should be directed. Without accurate routing numbers, wire transfers would be prone to errors and delays, hindering the efficient movement of funds.

4. Handling Electronic Fund Transfers: Electronic fund transfers, such as online payments and automatic bill payments, rely on routing numbers for seamless processing.

Whether you are paying your utility bills or making online purchases, your routing number ensures that the funds are transferred accurately and reach the intended recipient. This function of routing numbers streamlines the payment process, making it convenient and efficient for individuals and businesses.

5. Processing Checks: Checks may seem old-fashioned in today’s digital age, but they still play a significant role in certain transactions.

When you write a check, your routing number is printed at the bottom along with your account number. This routing number is crucial for the recipient’s bank to verify the validity of the check and ensure accurate processing.

It enables the routing of the check to the correct financial institution and ensures that funds are withdrawn from the correct account. Routing numbers are the backbone of banking transactions, playing a pivotal role in identifying financial institutions and facilitating the seamless movement of funds.

Without routing numbers, the reliability and efficiency of various banking transactions would be compromised, leading to delays, errors, and potential financial losses. Topic 4: The Role of Routing Numbers in Bank Transactions

Routing numbers play a central role in facilitating smooth and secure bank transactions.

Let’s explore the various ways in which routing numbers are utilized and their significance in ensuring the accuracy and efficiency of financial transactions. 1.

Automated Clearing House (ACH) Transactions: ACH transactions, which include direct deposits, direct debits, and electronic fund transfers, heavily rely on routing numbers. When you set up direct deposit for your paycheck or authorize a direct debit for bill payments, your routing number is essential.

It ensures that funds are correctly routed between banks or financial institutions, minimizing errors and ensuring timely transactions. 2.

Wire Transfers: Wire transfers are utilized for urgent or high-value transfers, both domestic and international. Whether you are sending money to a family member in another country or finalizing a business transaction, routing numbers play a critical role.

The sender’s bank uses the routing numbers to identify the recipient’s bank and route the funds accordingly, ensuring secure and efficient money transfers. 3.

Online and Mobile Banking: The advent of online and mobile banking has revolutionized the way we manage our finances. Whether it’s transferring funds between accounts, paying bills, or making peer-to-peer payments, routing numbers are integral to these transactions.

When initiating an online or mobile payment, your bank uses both your account number and routing number to verify and direct the funds to the correct financial institution. 4.

Merchant Transactions: Routing numbers also play a role in merchant transactions, such as processing payments made through debit cards or electronic checks. When you make a purchase using your debit card, the routing number helps identify the merchant’s bank and enables the funds to be transferred accurately and securely.

5. Account Verification: Routing numbers are also used for account verification purposes.

For example, when you link an external account to your bank’s online platform, you often need to provide the routing number of the external account. This information allows your bank to verify the authenticity of the account and establish the necessary connections for future transactions.

Routing numbers are vital in ensuring the accuracy, security, and efficiency of various bank transactions. By uniquely identifying financial institutions and enabling the smooth movement of funds, routing numbers play a crucial role in the modern banking system.

Their significance cannot be understated, as they streamline transactions, minimize errors, and provide a seamless banking experience for individuals and businesses alike. Conclusion:

In this article, we explored the key functions of routing numbers and delved into their role in bank transactions.

We learned that routing numbers are essential in identifying financial institutions, facilitating direct deposits, wire transfers, and electronic fund transfers. They streamline the processing of checks and play a pivotal role in various online and mobile banking transactions.

Routing numbers are the backbone of smooth and secure bank transactions, ensuring the accuracy and efficiency of financial transfers. As we continue to embrace digital advancements in the banking industry, routing numbers will remain integral to the seamless movement of funds and the overall functioning of modern banking systems.

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