A “harbor one routing number” is a nine-digit number assigned to a specific financial institution by the American Bankers Association. It enables the identification of the institution involved in a wire transfer or electronic payment and facilitates the routing of funds between banks. For instance, HarborOne Bank, a Massachusetts-based financial institution, utilizes the routing number 011401156.
The routing number plays a vital role in ensuring the seamless and secure transfer of funds, minimizing delays and reducing the risk of errors. It also facilitates direct deposits and automatic payments, providing convenience and efficiency in financial transactions. Notably, the routing number system has undergone significant modernization over the years, with the implementation of automated clearing house (ACH) transfers, which has further streamlined the electronic funds transfer process.
