Your bank institution number is a three-digit code that identifies your financial institution when you set up direct deposits, pay bills automatically, or send money within Canada. Combined with your transit number and account number, this code forms your routing information — the address system that makes sure your paycheck lands in your account, not someone else's.
- Institution number = your bank (3 digits)
- Transit number = your branch (5 digits)
- Account number = your specific account (7–12 digits)
Getting these numbers right matters. Incorrect routing details can delay your payment, send it to the wrong bank, or result in it being rejected entirely. Let's break down how this system works and where to find your numbers.
How does a Canadian bank institution number work?
When money moves between Canadian banks, three numbers work together to route it correctly. Payments Canada assigns each financial institution a unique institution number and maintains the official directory of all participants.
Your institution number identifies which bank holds your account (RBC, TD, Scotiabank, or another financial institution). Your transit number identifies which branch you opened your account at. Your account number identifies your specific account. These three pieces combine differently depending on the transaction type:
- On cheques: XXXXX-YYY (transit-institution)
- For electronic transfers: 0YYYXXXXX (zero + institution + transit)
For example, RBC branch 12345 appears as 12345-003 on cheques, but as 000312345 in electronic fund transfers (EFT). That leading zero in the EFT format is part of Canada's nine-digit Direct Payment Routing Number (DPRN) standard.
You'll use these numbers when setting up direct deposits for your paycheck, automatic bill payments, wire transfers, or business transactions. However, consumer Interac e-Transfers work differently — you just need the recipient's email address or phone number, as the system handles routing behind the scenes. (Business accounts can use account number routing, but that's a separate feature.)
How to find your bank institution number
You have several options depending on what you have handy.
On a cheque
Look at the bottom of any cheque. You'll see three sets of numbers printed in magnetic ink:
- Transit Number (5 digits) – Institution Number (3 digits) – Account Number (7–12 digits)
Example: 12345 – 003 – 000123456789
- That middle three-digit code (003 in this example) is RBC's institution number.
Through online or mobile banking
Log into your bank's website or app, open your account details, and look for sections labeled "Account Information," "Direct Deposit Information," or "Account Details." Most Canadian banks display their institution and transit numbers clearly in these sections.
On a bank statement
Your printed or digital statement typically includes your routing information, though the format varies by institution. If you can't find it, you can check your bank's FAQ page or contact customer support. Many banks list their institution numbers on their help pages.
Canadian bank institution numbers
Every financial institution in Canada has a unique three-digit institution number. Here are the major banks and popular online institutions:
Major Canadian banks
- Bank of Montreal (BMO): 001
- Scotiabank: 002
- Royal Bank of Canada (RBC): 003
- TD Canada Trust: 004
- National Bank of Canada: 006
- CIBC: 010
Online banks
- Tangerine Bank: 614
- EQ Bank (Equitable Bank): 623
- Simplii Financial: 010 (uses CIBC's number as a division, with transit 30800)
Note that Simplii Financial operates as a division of CIBC, which is why it shares the same institution number but uses a specific transit code.
Other financial institutions
The complete list includes hundreds of credit unions, trust companies, and smaller banks. A few notable ones:
- Laurentian Bank: 039
- Canadian Western Bank: 030
- VersaBank (formerly Pacific & Western Bank): 334
- ATB Financial: 219 (provincial Crown corporation, not a federal bank)
- President's Choice Bank: 320
- Desjardins Group: 815
- Manulife Bank: 540
Names and numbers change as institutions merge or rebrand. For the most up-to-date list, refer to Payments Canada's official directory, the authoritative source for all Canadian routing information.
What about international transfers?
Institution numbers are only applicable to Canadian transactions. When you send or receive money internationally, banks use different codes entirely. For international wires, you need your bank's SWIFT/BIC code (an 8–11 character code that identifies your institution globally).
Examples include TDOMCATTTOR for TD Canada Trust and ROYCCAT2 for RBC. Some countries also require an IBAN (International Bank Account Number), though Canada doesn't use IBANs domestically.
| Type of Transfer | Code Needed | Purpose |
|---|---|---|
| Domestic (within Canada) | Institution + Transit + Account | Routes money between Canadian banks |
| International Wire | SWIFT/BIC Code | Identifies your bank globally |
| EU/UK Transfers | IBAN | Identifies your specific account internationally |
Also read International bank codes and understand usage of codes When sending money abroad, you'll typically provide both your SWIFT code and your local routing details (institution, transit, account) so the receiving bank can complete the final deposit.
Sending money internationally from Canada
If you're supporting family overseas or managing cross-border expenses, traditional banks charge hefty fees for international wires — often $15–50 per transfer, plus poor exchange rates and intermediary bank fees.
RemitBee offers a better option. You can send money to 100+ countries with:
- Zero fees on transfers over $500 CAD
- Money-back guarantee on all your transfers
- Transparent exchange rates without hidden markups
- Fast delivery (most transfers arrive within minutes to hours)
Transfers are made directly from your Canadian bank account using the same routing information we've covered — your institution number, transit number, and account number. However, RemitBee handles the complex international routing, so you don't have to worry about SWIFT codes or correspondent banks.
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