Canadian Transit Number
A Canadian transit number is a standardized, nine-digit number used by financial institutions and banks in Canada. It specifies the part of the organization where a particular bank account is held, such as an individual branch. Canadian transit numbers are used to process domestic transfers of funds between bank accounts.
In Canada, a transit number is located at the bottom of a check and may also be available from a bank’s online portal or via a bank statement or official correspondence. Individuals or businesses that want to receive funds domestically from elsewhere will typically need to provide a transit number and an account number.
Canadian transit numbers can also be used to identify Canadian banks and financial organizations for international money transfer, although these numbers are integrated into SWIFT, IBAN and other international banking identifiers. If you are providing one of those numbers, you do not normally need to provide a transit number as well.
If you are sending money internationally and want to pay via direct bank transfer from a Canadian bank, you will typically need to provide your transit number and account number.
Canadian transit numbers consist of eight numbers. The first five digits represent the branch number and the last three identify the financial institution or bank. Transit numbers are regulated by Payments Canada.
Money Transfer Glossary
When it comes to exchanging money, paying for your transfer, understanding exchange rates and more, it’s important to understand what all the details mean. But don't worry. We’ve got you covered with our complete Monito glossary and guide to the most frequent terms you’ll come across when you send or receive money internationally.
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