Have you ever tried to send or receive a bank wire transfer into your bank account but been told there is an error with the bank transit number?
That’s because it’s not just any random string of numbers.
Bank transit numbers have been around since 1911 and help banks keep track of transactions between customers at different financial institutions.
They allow for faster payments and transfers as well as reduced risk of fraud.
- What is a Bank Transit Number?
- Don't Get Ripped Off when Sending Money Abroad – Use Wise
- Financial Institution Number
- Why is Bank Transit Number Important in Canada?
- How to Find Bank Transit Number?
- List of Routing Transit Numbers for Major Banks in Canada
- What is a Routing Number in Canada?
- FAQs: Bank Transit Number
- Bottom Line: Bank Transit Number Canada
In this article, we’ll provide some background information on bank transit numbers and how you can find yours so that the next time you need one, you know where to look!
We have also added a list of Canadian banks’ transit numbers. Let’s get started!
What is a Bank Transit Number?
A bank transit number in Canada is a five-digit unique number that identifies your bank branch. The transit number is used by financial institutions to route money and process payments.
In Canada, banks and other financial institutions give their branches unique transit numbers. The bank transit number’s goal is to identify the bank name, branch, and relevant data about a specific bank account.
Most people will have their bank transit number printed on their cheques, or they can find it by logging into their online banking account. If you’re not sure what your bank transit number is, read on!
In Canada, there are three primary components of an account information number:
- Transit Number: The first five digits are the transit number, and it indicates the branch details. (It is different from the IBAN or account number).
- Institution Number: The institution number is the following three numbers, which indicate the bank details.
- Account Number: The unique account number is the last seven to twelve digits. (If you only have six digits and require a 7-digit number, add an extra “0” in front of it.)
For example, if your transit number is 12345 and your bank’s institution number is 123, at the bottom of your cheque, you would see numbers that look like this: 12345 123 00000000.
All of these numbers are assigned to you when you create a bank account in Canada.
The final digit of the transit number typically indicates the branch’s geographical location. The following is the order of association:
- YYYY0 – British Columbia and Yukon
- YYYY1 – Western Quebec, including Montreal and its neighbouring area
- YYYY2 – Southern Ontario, including Toronto and its neighbouring area
- YYYY3 – Prince Edward Island, Nova Scotia, and Newfoundland
- YYYY4 – New Brunswick
- YYYY5 – Labrador and Eastern Quebec
- YYYY6 – Eastern Ontario, including Ottawa and neighbouring area
- YYYY7 – North-western Ontario and Manitoba
- YYYY8 – Saskatchewan
- YYYY9 – Alberta, Nunavut, and the Northwest Territories
Transit numbers are an important part of the banking system, and if you’re ever asked for one, it’s important that you provide the correct information.
Getting the transit number wrong can result in payments being delayed or even lost, so it’s worth taking a few minutes to double-check before you send anything off.
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Financial Institution Number
The institution number is a three-digit code that identifies a specific bank or financial institution.
A list of institution numbers for major Canadian financial institutions is provided in the table below.
Canadian Banks Financial Institution Number
|Bank of Montreal||001|
|Bank of Nova Scotia (Scotiabank)||002|
|Royal Bank of Canada (RBC)||003|
|Toronto-Dominion Bank – TD Bank (operating as TD Canada Trust)||004|
|National Bank of Canada||006|
|Canadian Imperial Bank of Commerce – CIBC (including Simplii Financial)||010|
|Canadian Western Bank||030|
|Laurentian Bank of Canada||039|
|Government of Canada||117|
|Canada Post (money orders)||127|
|Bank of Canada (Canadian central bank)||177|
|MUFG Bank, Canada Branch||245|
|Mega International Commercial Bank Canada||269|
|JPMorgan Chase Bank, N.A. (Toronto Branch)||270|
|Bank of China (Canada)||308|
|Vancity Community Investment Bank||309|
|First Nations Bank of Canada||310|
|CTBC Bank (Canada)||315|
|President’s Choice Bank||320|
|Canadian Tire Bank||338|
|ICICI Bank Canada||340|
|Digital Commerce Bank||352|
|The Canada Trust Company (for accounts opened before the TD & Canada Trust merger)||509|
|CS Alterna Bank||608|
|Equitable Bank (includes EQ Bank)||623|
|Central 1 Credit Union member institutions in British Columbia||809|
|Caisses Desjardins du Québec||815|
|Caisses populaires Desjardins du Manitoba||819|
|Central 1 Credit Union member institutions in Ontario||828|
|Caisses populaires Desjardins de l’Ontario||829|
|Meridian Credit Union||837|
|Credit Union Heritage (Nova Scotia)||839|
|Alterna Savings and Credit Union||842|
|Caisses populaires Desjardins acadiennes||865|
|Credit Union Central of Manitoba member institutions||879|
|Credit Union Central of Saskatchewan (SaskCentral) member institutions||889|
|Credit Union Central of Alberta member institutions||899|
So, for example, a number YYYY4-004 indicates that the account is held at a branch of TD Bank in New Brunswick.
Keep in mind that the bank’s transit number and institution number are only unique to the bank. As a result, if your friend and you both opened a chequing account at the same bank branch, there’s a good chance you’ll share the same routing number on your cheques. The primary distinction is simply your account number.
- If your bank account transit number is only four digits long, add a zero in front of it. For example, Branch 1211 is 01211.
- If your account number has only nine digits, but a form necessitates eleven, simply add two zeros at the front. For example, 00123456789 is equal to 123456789.
Why is Bank Transit Number Important in Canada?
The transit number is used to identify and obtain all of the information regarding a bank’s branch. Banks use the transit number to identify the branch where their customers open accounts quickly.
This is a noteworthy number as it makes it simple for banks and customers to manage their account information and swiftly transfer their details.
For example, if a user wishes to send someone their account number for a particular transaction, the bank can more easily find out where the account is located.
Users also simply give their account information in the form of a number. As a result, it’s fair to say that transit numbers were created to conduct transactions, such as bank account transfers. It ensures that the money is sent to the correct location.
Every component of a routing number, including the transit number, has the same goal: to properly locate clients’ bank accounts.
When a business or an individual wants to conduct a transaction, such as transfer or receive money, they must provide both the branch transit number and bank account number.
The transit number is also crucial for international transactions. Global money transfers, like wire transfers, use this number to locate the Canadian account correctly.
How to Find Bank Transit Number?
You can obtain your five-digit transit number in Canada in a variety of ways.
Option 1. Find bank transit number on cheque: On the bottom left corner of your chequebook, you should see a 5-digit transit number printed. It’s written on the lower portion of the chequebook, along with the institution number and account number.
The following image shows where to find the bank transit number on a cheque.
Option 2. Log into your online banking: By logging in to online banking, you’ll be able to find your account, institution, and transit number.
Option 3. On your bank statement or deposit slip: Typically, the transit number is on your bank statement or deposit slip.
Option 4. Contact your financial institution: If you’re still unable to find it, don’t hesitate to contact your financial institution directly for more information and ensure you have all of your account details.
Option 5. Visit your local bank in person to get the information.
Option 6. Locate the transit number in the lists below. The following tables show a list of some of the major Canadian banks and their routing transit numbers.
List of Routing Transit Numbers for Major Banks in Canada
What is a Routing Number in Canada?
When you combine the transit number with the institution number, it makes a routing number.
Routing numbers appear on cheques, bank drafts, invoices, and other financial documents. There are two different formats to routing numbers:
- Paper Transactions Routing Numbers (MICR): BBBBB-AAA
- Electronic Transactions Routing Numbers (ETF): 0AAABBBBB
Where AAA is the institution number, and BBBBB is the transit number.
For example, if Bank’s routing number is 26011-245, the institution number is 245, and the transit number is 26011.
FAQs: Bank Transit Number
What is my bank transit number?
Your bank transit number is a five digits number that indicates the branch where you opened your account at. It is usually located in the bottom corner of a cheque or bank draft.
Is bank transit number unique?
Yes, a bank transit number is unique to each branch of a financial institution for identification. The final digit of the transit number indicates the branch’s geographical location.
How many digits is a transit number?
A transit number is five digits long. However, if you only have four digits in your bank transit number, simply add a zero in front of it.
Is a transit number a routing number?
No, a routing number in Canada is different from a transit number. For Canadian banks, the Routing number is an 8-or 9-digit number comprised of the Institution number and the Transit number. Routing numbers are shown on cheques, bank drafts, invoices, and other financial papers.
The two distinct formats for routing numbers are:
• Electronic Transactions Routing Numbers (ETF): 0AAABBBBB
• Paper Transactions Routing Numbers (MICR): BBBBB-AAA
Where AAA is the institution number, and BBBBB is the transit number.
How do I find my bank’s transit number?
You can find your bank transit number in numerous places: on your chequebook, bank statement, deposit slips, or by logging into your online banking to access it. However, if you cannot find this information anywhere, contact your bank directly for more information.
Bottom Line: Bank Transit Number Canada
Our financial system requires bank transit numbers. Thousands of transactions occur every day, and banks require a mechanism to identify one another quickly.
Thanks to these five-digit transit numbers, we can take advantage of services like direct deposit and online transfers conveniently.
Now that you’ve completed this article, the next time you’re asked for a bank transit number, you’ll know what to provide and where to look.
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Charity (Charee) Oisamoje is the founder of TheFinanceKey - TFK. She leads the editorial team, which is comprised of subject-matter experts.
Her professional competencies and expertise make her qualified on this topic. She is an expert at collecting details, verifying facts, and making complex subjects easy to understand.
Backed by Solid Credentials: MBA in Finance Canadian Investment Funds (IFIC) Graduate Masters Degree in International Business Chartered Professional Accountant (CPA) Candidate ✔️Chartered Insurance Professional (CIP) ✔️BSc Accounting
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