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Canadian Routing Numbers
Canadian Routing Numbers is a nine digits numerical codes used to identify an individual branch of a financial institution in Canada. It is used by Canadian Banks, Credit Unions and Trust Companies for Electronic Fund Transactions (EFT) within Canada.
What is Transit Number?
Transit number or MICR number known for check processing. It appears in the bottom of negotiable instruments such as checks to determine financial institution, it draws. Paper (MICR) routing number is determined by a three-digit number and a five financial institutions the number of branches.
♦ XXXXX : Branch Number
♦ YYY : Institution Number
MICR stands for Magnetic Ink Character Recognition.
Routing NumberThe Routing Number is used for domestic transfer. To make money transfer, the Routing Number is used together with the bank account number of the recipient. For international inward money transfer, a SWIFT code must be used together with a Routing Number and Account Number.