Institution number
The three-digit code that identifies a Canadian bank, credit union or other financial institution in the payment system.
In short
- Three digits, the same for every branch of one institution.
- RBC is 003, TD 004, BMO 001, Scotiabank 002, CIBC 010, National Bank 006, Desjardins 815.
- Combined with the transit number into a nine-digit routing number for electronic payments.
An institution number (also called a financial institution number or bank number) is the three-digit code that identifies a financial institution in Canada's payment system. Payments Canada lists the institution numbers of its members, and the number is the same for every branch of that institution; the branch itself is identified by the five-digit transit number.
Institution numbers of the largest banks
- 001: Bank of Montreal (BMO)
- 002: Bank of Nova Scotia (Scotiabank)
- 003: Royal Bank of Canada (RBC)
- 004: Toronto-Dominion Bank (TD)
- 006: National Bank of Canada
- 010: Canadian Imperial Bank of Commerce (CIBC)
- 815: Fédération des caisses Desjardins du Québec
Credit unions often appear on Payments Canada's list under their provincial central. Your own cheque or direct deposit form is the reliable source for your account. The institution number of every Payments Canada member is listed in bank transit numbers in Canada.
How it is used
Any payment into a Canadian account (payroll direct deposit, a supplier payment, a pre-authorized debit) needs the institution number, transit number and account number. On a cheque they appear as transit, institution, account. In electronic payment files they are combined into a nine-digit routing number: 0, then the institution number, then the transit number.
Worked example
Reading a direct deposit form
A TD direct deposit form lists institution 004, transit 01234 and account 5678901. Payroll software that wants a single routing number takes 000401234.