Exploring the Suffolk Federal Routing Number- A Comprehensive Guide to Financial Transactions
Introduction:
The Suffolk Federal Routing Number is a crucial piece of information for anyone engaging in financial transactions with Suffolk Federal Credit Union. This unique nine-digit number is used to identify the credit union and facilitate the transfer of funds between accounts. In this article, we will delve into the significance of the Suffolk Federal Routing Number, its usage, and how it can impact your financial transactions.
Understanding the Suffolk Federal Routing Number:
The Suffolk Federal Routing Number is 221381523. This number is assigned to Suffolk Federal Credit Union by the American Bankers Association (ABA) and is essential for processing electronic transactions. When you initiate a wire transfer, direct deposit, or bill payment, the routing number is used to ensure that the funds are directed to the correct account.
Usage of the Suffolk Federal Routing Number:
1. Wire Transfers: When sending or receiving wire transfers, the Suffolk Federal Routing Number is required to ensure that the funds are transferred to the correct destination. This is particularly important for international wire transfers, as it helps prevent errors and delays.
2. Direct Deposits: Employers and government agencies often use the Suffolk Federal Routing Number to set up direct deposit for employees or beneficiaries. This allows for a seamless and secure transfer of funds into your account.
3. Bill Payments: If you choose to pay your bills through online banking or a third-party service, the Suffolk Federal Routing Number is necessary to ensure that the payment is processed correctly.
4. ACH Transfers: The routing number is also used for Automated Clearing House (ACH) transfers, which include direct debits and credits between financial institutions.
Impact on Financial Transactions:
The accuracy of the Suffolk Federal Routing Number is crucial for the successful processing of financial transactions. An incorrect routing number can lead to delays, additional fees, or even the loss of funds. It is essential to verify the routing number before initiating any transaction to avoid these issues.
Conclusion:
The Suffolk Federal Routing Number is a vital component of financial transactions with Suffolk Federal Credit Union. By understanding its significance and proper usage, you can ensure that your transactions are processed smoothly and securely. Always double-check the routing number before initiating any transaction to prevent potential complications.
