A routing number is the term for bank codes in Canada. Routing numbers consist of eight numerical digits with a dash between the fifth and sixth digit for paper financial documents encoded with magnetic ink character recognition and nine numerical digits without dashes for electronic funds transfers. Routing numbers are regulated by Payments Canada, formerly known as the Canadian Payments Association, to allow easy identification of the branch location and financial institution associated with an account. Show Format[edit]A routing number consists of a five digit transit number (also called branch number) identifying the branch where an account is held and a three digit financial institution number corresponding to the financial institution. The number is given as one of the following forms, where XXXXX is the transit number and YYY is the financial institution number:
A leading zero is used when formatting a routing number for electronic payments. Routing symbol[edit]The symbol that delimits a routing number on MICR-encoded paper documents is the E-13B transit character (Unicode value U+2446): ⑆ Transit numbers[edit]Each branch in a financial institution is assigned a unique transit number for identification. The format of the transit number may vary by institution. Most institutions use the transit number and branch number synonymously; however Toronto-Dominion Bank (TD Canada Trust) uses four-digit branch numbers, reserving the final digit of the transit number for the geographical location of the branch:
Therefore, a (fictional) routing
number While some other institutions use the same or similar patterns for the last digit of the transit number, it is not applied consistently. For example, all transit numbers for Bank of Montreal in Newfoundland and Labrador end in "1", while those for Scotiabank in that province end in "3" (including for branches in Labrador) instead of the split used by TD. Meanwhile, RBC also uses four-digit branch numbers, but these include the last digit, with the transit numbers instead being padded with leading zeroes (and only a handful of non-branch transits using a leading "1" instead).[1] While some older branches happen to adhere to the pattern above, it has been abandoned for many newer RBC branches, apparently in order to limit its branch transit numbers to four digits. Financial institution numbers[edit]A selection of institution numbers for major Canadian financial institutions is below.
Directories of routing numbers[edit]Payments Canada maintains the Financial Institutions File (FIF), an electronic directory of routing numbers for all financial institutions in Canada. The FIF is updated weekly and is operated as a fee-based subscription service to member institutions of Payments Canada.[3] A companion free-of-charge directory, the Financial Institutions Branch Directory (FIBD), is also operated by Payments Canada for occasional referencing by the general public. The FIBD is only available in PDF format and cannot be imported into business applications.[4] See also[edit]
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References[edit]
IS routing number the institution?A routing number is a nine-digit code used to identify a financial institution in the United States. Banks use routing numbers to direct the exchange of funds to and from one another. You can typically find the routing number on the bottom left corner of most personal checks.
What is Route code for bank?A routing number is a unique, nine-digit number that functions as an address for your bank. It is used for electronic transactions such as funds transfers, direct deposits, digital checks, and bill payments.
What is institution number?A bank institution number is a three-digit number that refers to a specific bank. You can find it at the bottom of your cheque.
What is a 9 digit routing number Canada?A routing number is the term for bank codes in Canada. Routing numbers consist of eight numerical digits with a dash between the fifth and sixth digit for paper financial documents encoded with magnetic ink character recognition and nine numerical digits without dashes for electronic funds transfers.
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