Transit and institution numbers play a crucial role in Canadian banking, helping to identify specific bank branches and institutions. This article will guide you through what these numbers mean and how to locate them.

What is an Institution Number?

The institution number is a unique three-digit code assigned to a bank or financial institution, used to identify them. Combined with a five-digit transit number, they form a routing number, essential for processing cheques and electronic transactions such as funds transfers, direct deposits, digital cheques, recurring loan, and bill payments.

The institution number specifically identifies your bank, while the transit number shows which branch you opened your account at. Together with the account number, which can range from seven to twelve digits, these numbers facilitate various banking operations.

What Is a Transit Number in Canada?

A transit number, also known as a branch number, is a five-digit code that, when combined with a bank institution number and your account number, provides the precise address of your bank account. This information is crucial whenever you set up new payment processes, such as direct deposit with a new employer.

Transit Number Formats

In Canada, transit numbers are formatted as five-digit numbers, contrasting with the nine-digit format used in the U.S. Think of the series of numbers like an address: the transit number indicates the specific bank branch where your account was created, functioning like the name of your street, while your account number is akin to your apartment number.

Your bank transit number and institution number can be found at the bottom of a cheque. The transit number (five digits) identifies the branch where you opened your account, and the three-digit institution number identifies your bank. Additionally, the account number (typically 11 digits) identifies your individual account. On a paper or digital cheque, you’ll see a string of numbers at the bottom left. The sequence starts with the cheque number, followed by the five-digit transit number, and then the three-digit bank institution number. So, the entire sequence of numbers at the bottom of your cheque would look like this: {XX} cheque number {XXXXX} transit number {XXX} bank institution number.

How to Find a Transit Number Without a Cheque?

If you need your institution number but don't want to deal with cheques, you can find your bank’s transit number in several ways:

• Your paper or electronic bank statement.
• Your online banking portal.
• By contacting or visiting your bank branch and asking for the number.

To ensure your bank processes your payment securely and efficiently, always verify routing numbers with your bank or the recipient.‍

Now that you have your transit number and institution number to send payments, we have a section on our website where you can cross-verify or validate the bank address information associated with your account.

Check it out here: finofo.com/tools/bank-coordinates-checker

Additionally, if you have suppliers in Canada, this tool can help you find their bank coordinates as well.

It’s quite common for suppliers not to share their bank address and coordinates information. Finding this information isn’t easy—it’s often scattered across the internet and not readily available in one place, leading to a lot of time wasted searching for the correct details.

You can use the same tool to easily find your supplier's bank address coordinates and send payments with ease.