Routing number 547505259 belongs to PlainsCapital Bank, a financial institution based in Texas. Below is a detailed explanation of the bank and routing number:
PlainsCapital Bank
- Bank Name: PlainsCapital Bank
- Headquarters: Dallas, Texas
- Type: Commercial Bank
- Primary Service Area: Primarily serves Texas, with branches located across various cities in the state.
- Services Offered: PlainsCapital Bank provides a wide range of banking services, including personal and business checking accounts, savings accounts, loans, mortgages, online banking, and wealth management services.
Routing Number 547505259:
- Purpose of Routing Number: The routing number is a nine-digit code used to identify a specific financial institution in the U.S. when processing checks, ACH (Automated Clearing House) transfers, direct deposits, and wire transfers.
Routing Number Structure:
- The first four digits (5475) typically identify the bank or institution’s region.
- The next digit (0) represents the Federal Reserve Bank district, with the “0” indicating the Federal Reserve’s Texas district.
- The final set of digits (05259) identifies the specific branch or location associated with the routing number.
Bank Details:
- FDIC: PlainsCapital Bank is a member of the Federal Deposit Insurance Corporation (FDIC), which insures deposits up to $250,000 per depositor.
- SWIFT/BIC Code: For international transactions, the SWIFT/BIC code used by PlainsCapital Bank is often required.
Use of Routing Number:
- Checks: When you write a check, the routing number helps to route the payment through the correct banking institution.
- Direct Deposit/ACH Payments: This routing number is used for automated transactions like direct deposit of paychecks or recurring ACH payments.
- Wire Transfers: For both domestic and international wire transfers, this routing number would be involved.