What is Routing Number in Canada?
Canada's banking system uses a few different types of routing numbers to process payments between accounts.
The most common is the Canadian Payments Association (CPA) routing number.
It is an 8 digit routing number used in electronic funds transfers between financial institutions such as banks and credit unions. The CPA also known under the brand name "Payments Canada" governs the assignment of routing numbers for each financial institution.
Domestic 8 digit routing numbers are used in electronic funds transfers and pre-authorized payments.
Pre-authorized payments could be recurring bills such as paycheck, mortgage, monthly memberships etc.
Another form of routing information for domestic payments is the combination of
Financial Institution Number ( FIN Code ), Branch/Transit Number and Account Number.
The FIN code is 3 digits long and the Transit Number is 5 digit long.
Use of Routing Numbers
In Canada different routing numbers are used depending on the type of transfer.
For EFT payments in Canadian Dollar (CAD):
Required details are domestic FIN code ( 3 digits ), Transit Number (5 digits) and Account Number.
For International wire transfers in other currencies: Required details are the 8 digit routing number along with BIC code and account number.
An incorrect routing number may result in delayed or rejected payment.
This website is designed to provide a free reference for validating and looking up the different routing numbers, BIC code and other bank details needed for transfers.
By validating the routing number users can help increase the likelihood that electronic fund transfers reach their intended destination safely.
List of largest banks in the Canada
The following table provides a list of the major banks in the Canada by assets
|Toronto-Dominion Bank (TD Bank)|
|Royal Bank of Canada (RBC)|
|Bank of Nova Scotia (Scotiabank)|
|Bank of Montreal (BMO)|
|Canadian Imperial Bank of Commerce (CIBC) (includes Simplii Financial)|
|National Bank of Canada|
|HSBC Bank Canada|
|Laurentian Bank of Canada|
|Canadian Western Bank|