If you have an account at a Canadian bank and have ever signed up for a direct deposit or sent or received a domestic or international money transfer, you may have had to look up your routing number. Being asked for your routing number doesn’t come up often, but it’s a good idea to know what it’s for and how to find it when needed.
What is a routing number?
In Canada, banks, credit unions, and other financial institutions use routing numbers to identify the specific bank location where an individual holds an account. They may also be called bank codes. Canadian routing numbers are eight digits long and help define the bank and the specific branch.
Your routing number is different from your account number. Your account number tells which specific account, monies, and transactions belong to you, while the routing number ties your account to a specific bank and branch.
Parts of a routing number
Your routing number will be broken into two parts, five digits and three digits. The three digits are your institution number, this identifies the bank that you’re working with. The five digits are the transit number, and it designates the branch where you opened your account.
Canadian ‘Big Five’ institution numbers
The largest banks in Canada have been dubbed the “Big Five.” They are among the world’s largest banks and provide a number of services to millions of Canadians. Their institution numbers are as follows:
- Bank of Montreal/BMO: 001
- Bank of Nova Scotia/Scotiabank: 002
- Royal Bank of Canada/RBC: 003
- Toronto-Dominion Bank/TD Bank: 004
- Canadian Imperial Bank of Commerce: 006
City- and province-based transit number designations
While smaller banks and credit unions may only have a few branches, each of the Big Five banks has hundreds. Giving each branch its own transit number or branch number can help keep the process of banking organized and ensure that money ends up where it’s supposed to go.
Most Canadian financial institutions will use the fifth and final digit in the transit number to designate a branch’s geographic region:
- —-0 for British Colombia and Yukon
- —-1 matches with Western Quebec, which includes Montreal
- —-2 is for most of Ontario, which includes Southern Ontario and Toronto (where all five Big Five banks are based)
- —-3 is for Nova Scotia and Prince Edward Island—sometimes Newfoundland and Labrador are included here
- —-4 is for New Brunswick
- —-5 matches eastern Quebec, which includes Quebec City
- —-6 is for the capitol city of Ottawa and its surroundings
- —-7 is for Manitoba and the northwestern part of Ontario, which includes the area surrounding Thunder Bay
- —-8 is for Saskatchewan
- —-9 is for Alberta, Nunavut, and the Northwest Territories
How to find your routing number
If you need to look up your Canadian routing number, there are a few ways to do so:
- Visit a local branch of your bank. If you’re not in your home city and can locate a different branch, a cashier or teller at your Canadian bank should be able to tell you your account information, provided that you’re able to verify your identity.
- Look at a paper cheque. While many Canadians seem to prefer online banking to paper cheques these days, they’re an easy way to find your account and routing numbers. You may have even received some when you first opened your account! Look at the bottom of the cheque and notice the three groupings of numbers. On the far left will be the individual cheque number. The routing number is in the middle, which is broken up into the branch number and institution number. On the right is your account number.
- Look online. If you don’t have a paper cheque handy, you can usually log in to your account on your bank’s website or app and locate all the details you need. This information is usually stored in the “Account Details” section. You may also find it on downloadable direct deposit forms.
Why do you need to know your routing number?
If you’re sending or receiving money electronically, knowing your account number and your routing number is important so that money is taken from the correct account and ends up in the right place.
If you’re starting a new job and filling out direct deposit paperwork, you’ll need to know your routing number for the electronic funds transfer to take place. If you’re sending a remittance to family abroad, you’ll need to know your account and routing numbers to complete the transaction. Download the Western Union mobile app or send money through our website to get started today!
