Routing Number: 121142850 (Please note that this number is no longer in service. Kindly refer to the new Routing Number provided below)
New Routing Number: 121142287
Date of Revision: 031113
Bank: HERITAGE BANK OF COMMERCE-E BAY DIV
Address: 150 ALMADEN BLVD
City: SAN JOSE
State: CA
Zip: 95113-2000
Phone: (408) 494-4599
Routing numbers are an essential part of the banking system in the United States. They are unique nine-digit numbers assigned to each financial institution by the American Bankers Association (ABA).
These numbers play a crucial role in various banking transactions, including direct deposits, wire transfers, electronic payments, and online banking. Understanding routing numbers is crucial for consumers to ensure their financial transactions are processed accurately and efficiently.
Each routing number identifies a specific bank or credit union, allowing funds to be transferred smoothly between different financial institutions. It helps to prevent errors and facilitates the orderly movement of money.
Take, for example, the now-outdated routing number 121142850. This number was previously assigned to Heritage Bank of Commerce – E Bay Div, but it is no longer in service.
The new routing number for this institution is 121142287, effective since March 11, 2013. Heritage Bank of Commerce – E Bay Div, headquartered in San Jose, California, has been serving the Bay Area community since its establishment.
Let’s delve into their history, starting from their humble beginnings to their growth into a prominent financial institution. Heritage Bank of Commerce – E Bay Div’s roots can be traced back to 1994 when a group of local business leaders recognized the need for a community bank that would focus on providing personalized banking services to small and medium-sized businesses.
With this vision in mind, they founded Heritage Bank of Commerce. Over the years, Heritage Bank of Commerce – E Bay Div has continued to serve its customers with integrity, commitment, and a dedication to community development.
They have expanded their presence across the Bay Area, with branches strategically located in various cities to better serve their customers’ needs. The bank’s success can be attributed to its customer-centric approach and the value it places on building strong relationships.
With every transaction, Heritage Bank of Commerce – E Bay Div aims to surpass customer expectations, offering tailored financial solutions and exceptional service. In today’s digital age, Heritage Bank of Commerce – E Bay Div has embraced technology to provide modern, convenient banking services.
Customers can access their accounts online, make transactions, and even apply for loans from the comfort of their homes or offices. The bank’s user-friendly online platform ensures a seamless banking experience for customers.
The routing number change from 121142850 to 121142287 demonstrates the continuous evolution and improvement of banking processes. While the old number may no longer be in use, it serves as a reminder of the ongoing updates and improvements made within the banking industry to meet the changing needs of customers.
Understanding routing numbers and their significance in banking transactions is essential not only for customers but also for businesses and organizations. It empowers individuals to make informed decisions and ensures the smooth flow of funds, contributing to the overall stability of the financial system.
In conclusion, routing numbers are vital elements within the banking system, enabling efficient and accurate transfer of funds. Heritage Bank of Commerce – E Bay Div, with its long-standing commitment to customer satisfaction and community development, is an example of a financial institution that strives to meet the evolving needs of its customers.
So, whether you’re making a direct deposit, initiating a wire transfer, or using online banking services, understanding routing numbers adds an extra layer of knowledge and confidence to your financial transactions. Topic 3: Key Functions of Routing Numbers
Routing numbers serve various key functions within the banking system.
Let’s take a closer look at these functions to understand their significance in financial transactions. 1.
Identifying Banks: Routing numbers help identify the specific financial institution involved in a transaction. Each bank or credit union is assigned a unique routing number, allowing for accurate routing of funds.
This identification helps prevent errors and ensures that money reaches the intended recipient. 2.
Processing Direct Deposits: Routing numbers are essential for processing direct deposits, whether it be for paychecks, government benefits, or tax refunds. When an individual or organization sets up a direct deposit, they provide their routing number to the sender.
This allows the sender’s financial institution to route the funds accurately to the recipient’s bank. 3.
Facilitating Wire Transfers: Routing numbers play a crucial role in wire transfers, which involve the electronic transfer of funds between financial institutions. When initiating a wire transfer, the sender provides their bank’s routing number, along with the recipient’s routing number, account number, and other necessary details.
The routing numbers help ensure that the funds are routed efficiently and securely to the intended recipient’s account. 4.
Enabling Electronic Payments: Routing numbers are also used in electronic payments, such as automated clearing house (ACH) transactions. ACH transfers enable businesses and individuals to move funds electronically, such as paying bills, making online purchases, or receiving payments.
The routing number helps facilitate these transactions, ensuring that the funds are directed to the correct bank for processing. 5.
Supporting Online Banking: Online banking has become increasingly popular, allowing individuals to perform a wide range of financial transactions conveniently from their computers or mobile devices. Routing numbers are a critical component of online banking, enabling customers to transfer funds between accounts, pay bills electronically, and set up recurring payments.
By providing the correct routing number, customers can ensure that their online transactions are processed accurately and securely. Topic 4: The Role of Routing Numbers in Bank Transactions
Routing numbers play a vital role in ensuring the smooth operation of various bank transactions.
Let’s explore the specific ways in which routing numbers contribute to the efficiency and accuracy of these transactions. 1.
Accuracy in Fund Routing: When a sender initiates a transaction, such as a direct deposit or wire transfer, the routing number acts as the crucial piece of information that ensures funds are directed to the correct financial institution. Without an accurate routing number, the funds may end up in the wrong account or get delayed or even lost during the transfer process.
By providing the correct routing number, individuals and organizations can have confidence in the accuracy and timeliness of their transactions. 2.
Securely Routing Funds: Routing numbers also contribute to the security of bank transactions. By using routing numbers, financial institutions can validate the authenticity of transactions and securely route the funds between banks.
This provides an additional layer of protection against fraud or unauthorized transactions. Furthermore, routing numbers help financial institutions maintain the integrity of their network and prevent any unauthorized access or manipulation of funds during the routing process.
3. Swift Transaction Processing: Routing numbers enable expedited transaction processing by providing a standardized method for financial institutions to exchange information.
The unique routing number assigned to each bank allows for quick identification and routing of funds. This streamlines the backend processes, reducing the time it takes for transactions to be completed and ensuring that customers’ accounts are updated promptly.
4. Integration with Third-Party Payment Processors: Many businesses and organizations rely on third-party payment processors to handle their transactions.
Routing numbers play a crucial role in facilitating this integration. By providing their routing number, businesses can seamlessly connect their banking systems to third-party payment processors, enabling them to accept payments from customers and process transactions efficiently.
5. Streamlining International Transfers: In addition to domestic transfers, routing numbers also play a role in international transactions.
For international wire transfers, financial institutions utilize an intermediary bank’s routing number to facilitate the transfer to a foreign bank. This intermediary bank acts as an intermediary step between the originating and receiving banks, ensuring that the funds are routed accurately across borders.
The use of routing numbers in international transfers helps simplify the complex process of moving funds globally while maintaining accuracy and efficiency. In conclusion, routing numbers are an integral part of banking transactions, serving various key functions.
They enable accurate identification of financial institutions, facilitate the smooth routing of funds, and contribute to the efficiency and security of bank transactions. Understanding the significance of routing numbers empowers individuals and businesses to navigate the banking system confidently and ensures the seamless movement of funds in an increasingly interconnected financial world.