Bank Code Verified

065200984, Routing Number for FIRST NATIONAL BANK OF JEANERETTE, JEANERETTE, LA

Routing Number: 065200984

Date of Revision: 091510

Bank: FIRST NATIONAL BANK OF JEANERETTE

Address: P O BOX 151

City: JEANERETTE

State: LA

Zip: 70544

Phone: (337) 276-3692

Understanding Routing Numbers and Their Significance in Banking TransactionsWhen it comes to banking transactions, you may have come across the term “routing number.” But what exactly is a routing number? How does it impact your banking experience?

In this article, we will delve into the world of routing numbers and their significance in ensuring smooth and secure financial transactions. We will also take a closer look at the fascinating history of First National Bank of Jeanerette, a trusted institution that has been serving the Jeanerette community since 1909.

Topic 1: Understanding Routing Numbers

1. What is a Routing Number?

A routing number, also known as an ABA number or routing transit number (RTN), is a nine-digit code assigned to financial institutions in the United States. It serves as a unique identifier for banks and credit unions, facilitating the movement of funds between different institutions in a secure and efficient manner.

2. The Structure of a Routing Number

The structure of a routing number can be divided into three parts.

The first four digits represent the Federal Reserve routing symbol, which indicates the geographic location of the financial institution. The next four digits signify the American Bankers Association (ABA) institution identifier, which uniquely identifies the bank or credit union.

Finally, the last digit, known as the check digit, is a mathematical calculation used to ensure the accuracy of the routing number. 3.

The Significance of Routing Numbers

Routing numbers play a crucial role in various banking transactions, including direct deposit, automatic bill payments, wire transfers, and electronic fund transfers (EFTs). These numbers ensure that funds are routed to the correct financial institution, allowing for seamless and error-free transactions.

Moreover, routing numbers provide an added layer of security, preventing unauthorized individuals from diverting funds to the wrong account. Topic 2: A Brief History of First National Bank of Jeanerette

1.

The Birth of First National Bank of Jeanerette

First National Bank of Jeanerette was established in 1909, making it one of the oldest and most respected financial institutions in the region. Founded by a group of visionaries who recognized the need for a reliable bank in Jeanerette, this institution has played an integral role in the economic growth and development of the community.

2. Weathering the Test of Time

Over its long history, First National Bank of Jeanerette has withstood numerous challenges and economic downturns.

Through its commitment to exceptional customer service and sound financial practices, the bank has earned the trust and loyalty of generations of customers. Today, it stands as a testament to the resilience and unwavering dedication of its founders and staff.

3. Community Involvement

First National Bank of Jeanerette’s success can be attributed, in large part, to its deep involvement in the community it serves.

Throughout the years, the bank has actively supported local businesses, schools, and community programs, fostering a sense of unity and shared prosperity. By investing in the future of Jeanerette, First National Bank has helped create a thriving local economy.

4. Embracing Technological Advancements

In a rapidly evolving world, First National Bank of Jeanerette has embraced technological advancements to better serve its customers.

Today, it offers a range of digital banking solutions, including online banking, mobile banking, and remote deposit capture. This commitment to innovation ensures that customers can conveniently manage their finances from the comfort of their homes or on the go.

Conclusion:

In conclusion, understanding routing numbers is essential for anyone engaged in banking transactions. These seemingly ordinary nine-digit codes play a vital role in ensuring secure and efficient money transfers.

Additionally, the rich history of First National Bank of Jeanerette serves as a testament to the importance of community involvement, resilience, and adapting to technological advancements. As you navigate the world of banking, keep these insights in mind, and appreciate the significance of routing numbers and the legacy of institutions like First National Bank of Jeanerette.

Topic 3: Key Functions of Routing Numbers

Routing numbers serve several key functions in the world of banking. They play a vital role in ensuring the smooth and secure movement of funds between financial institutions.

Let’s explore some of the key functions of routing numbers in more detail. 1.

Identifying the originating and receiving banks:

Routing numbers uniquely identify both the originating and receiving banks during a transaction. When you initiate a transaction, such as a direct deposit or a wire transfer, the routing number serves as the key identifier for the financial institution that is sending or receiving the funds.

This identification is crucial in ensuring that the funds are routed to the intended recipient. 2.

Facilitating electronic fund transfers:

Routing numbers are essential in facilitating electronic fund transfers, including Automated Clearing House (ACH) transactions and wire transfers. ACH transactions are commonly used for direct deposits, payroll payments, and recurring bill payments.

The routing number helps direct these transactions to the correct financial institution, allowing for seamless and efficient processing. Wire transfers, on the other hand, are used for high-value and time-sensitive transactions.

Routing numbers are crucial in wire transfers as they ensure that funds are sent to the correct destination quickly and securely. Without the correct routing number, the funds may be delayed or even misdirected, leading to potential financial loss and inconvenience.

3. Enabling direct deposits and automatic bill payments:

Routing numbers are often required when setting up direct deposits or automatic bill payments.

For example, when you provide your employer with your routing number, they can initiate direct deposits of your salary into your bank account. Similarly, when you authorize a biller to withdraw funds from your account for recurring payments, your routing number is necessary to ensure that the payments are correctly processed.

4. Verifying checks and money orders:

Routing numbers are also used to verify the legitimacy of checks and money orders.

When you receive a check or money order, you can use the routing number to verify the authenticity of the financial institution it is drawn on. This verification step helps prevent fraud and protects individuals and businesses from accepting counterfeit or unauthorized payment instruments.

Topic 4: The Role of Routing Numbers in Bank Transactions

Routing numbers play a critical role in various types of bank transactions. They are the backbone of the banking system, ensuring that funds are efficiently and securely transferred between financial institutions.

Let’s explore the role of routing numbers in some common bank transactions. 1.

Direct Deposits:

Routing numbers are necessary for setting up direct deposits, such as paychecks or government benefits. When you provide your routing number to your employer or the paying agency, they can electronically transfer the funds directly into your account.

The routing number identifies your bank or credit union, ensuring that the funds are deposited accurately and promptly. 2.

Automatic Bill Payments:

Routing numbers are also essential for setting up automatic bill payments. Whether it’s your monthly utility bills, mortgage payments, or subscription services, providing your routing number allows the billing company to electronically withdraw funds from your account.

This convenience ensures that your bills are paid on time, without the hassle of manual payments. 3.

Wire Transfers:

Wire transfers are used for sending funds electronically to another bank account, either domestically or internationally. Routing numbers play a crucial role in wire transfers by identifying the originating and receiving banks.

When you initiate a wire transfer, you need to provide the routing number of the recipient’s bank, ensuring that the funds reach the intended account securely and efficiently. 4.

Online and Mobile Banking:

In the digital age, online and mobile banking have become increasingly popular. Routing numbers are necessary for linking your bank account to these platforms, enabling you to access and manage your finances conveniently.

Whether it’s checking your account balance, transferring funds between accounts, or paying bills online, the routing number ensures that your transactions are processed accurately and without any delays. 5.

Check Processing:

When you write a check, your routing number is printed at the bottom along with your account number. When the check is deposited, the routing number is used to determine which financial institution should receive the funds.

This information is crucial in the check clearing process, ensuring that the funds are debited from your account and credited to the recipient’s account accurately. Conclusion:

Routing numbers are a fundamental aspect of banking transactions.

They serve multiple functions, including identifying financial institutions, facilitating electronic fund transfers, enabling direct deposits and automatic bill payments, verifying checks, and supporting online and mobile banking. Understanding the significance of routing numbers ensures that your financial transactions are processed smoothly, securely, and without any unnecessary complications.

So, the next time you initiate a banking transaction, remember the critical role that routing numbers play in ensuring the seamless movement of funds.

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