Canadian Bank Institution Numbers: A Simple Guide for 2025

The institution number is a 3-digit code that identifies and distinguishes over 400 banks, credit unions, and trust companies operating in Canada. It is important for accurately routing payments through Canada’s banking system.

In this article, we’ll help you understand what this code is and how to find your own bank’s code, which is essential for setting up direct deposits, wire transfers, and automated banking.

What is an institution number in Canada?

A financial institution number is a unique 3-digit numeric code assigned to any bank, credit union, trust company or other financial service provider operating in Canada.

This code exclusively identifies each financial institution and serves an essential function, ensuring money moves accurately between financial institutions by properly routing funds to the correct bank.

Here are some key banking functions requiring proper institution numbers:

• Direct deposit – Setting up payroll, pensions, or government benefits
• Wire transfers – Sending/receiving domestic and international wires
• Bill payments – Set up auto-pay for utilities, loans, insurance, and more.
• Account linking – Connecting accounts across institutions
• Tax refunds – Receiving payments from the Canada Revenue Agency
• Pre-authorized withdrawals – Gym memberships, subscriptions, etc.

Supplying accurate numbers and routing details accelerates these transactions and minimizes errors resulting from faulty account data.

List of Canadian bank institution numbers

The Government of Canada regulates over 400 registered financial institutions assigned an exclusive 3-digit institution number. Below are examples of the íntitution numbers for some major banks, foreign banks, and credit unions in Canada.

Big Six Banks

Here are the institution numbers of Canada’s six largest banks: RBC, TD, BMO, Scotiabank, CIBC, and National Bank.

Financial Institution	Institution Number	City	Postal Code
BMO (Bank of Montreal)	001	Montreal, QC	H2Y 1L6
Scotiabank	002	Toronto, ON	M5H 1H1
RBC (Royal Bank of Canada)	003	Montreal, QC	H3C 3A9
TD Bank	004	Mississauga, ON	L4W 5P3
National Bank of Canada	006	Montreal, QC	H3B 4L2
CIBC	010	Toronto, ON	M5J 0E7

Other Canadian Banks

Beyond the Big Six, numerous regional and specialized banks serve specific markets across Canada:

Financial Institution	Institution Number	City	Postal Code
Canadian Western Bank	030	Edmonton, AB	T5J 3X6
Laurentian Bank	039	Montreal, QC	H3A 3K3
ATB Financial	219	Edmonton, AB	T5J 0N3
Manulife Bank	540	Waterloo, ON	N2J 4C6
B2B Bank	618	Toronto, ON	M5L 0A2
Equitable Bank	623	Toronto, ON	M4V 3A1
Concentra Bank	853	Saskatoon, SK	S7K 2M2
Amex Bank of Canada	303	Toronto, ON	M2J 5C2
First Nations Bank of Canada	310	Saskatoon, SK	S7K 2J2
HomeEquity Bank	358	Toronto, ON	M4S 3C4
Manulife Bank of Canada	540	Waterloo, ON	N2J 4C6

Digital and Online Banks

Financial Institution	Institution Number	City	Postal Code
President’s Choice Bank	320	Toronto, ON	M5V 2V9
Simplii Financial*	010	Toronto, ON	M5J 0E7
Motus Bank	374	Toronto, ON	M8X 2X3
Haventree Bank	381	Toronto, ON	M5X 1E5
Tangerine Bank	614	Toronto, ON	M2H 3S8

*Note: Simplii Financial shares CIBC’s institution number as it operates as a division of CIBC.

Foreign Banks operating in Canada

International banks maintain Canadian operations under specific institution numbers:

Financial Institution	Institution Number	City	Postal Code
Bank of America, National Association	241	Toronto, ON	M5J 2V8
The Bank of New York Mellon	242	Toronto, ON	M5H 4A6
MUFG Bank, Ltd., Canada Branch	245	Toronto, ON	M5J 2J1
BNP Paribas	250	Montreal, QC	H3A 2A6
Deutsche Bank AG	265	Toronto, ON	M5L 1E9
Mega International Commercial Bank	269	Toronto, ON	M2N 6K1
JPMorgan Chase Bank, National Association	270	Toronto, ON	M5K 1E7
U.S. Bank National Association	318	Toronto, ON	M5H 1T1
Rabobank Canada	322	Toronto, ON	M5H 4E3
Bank of China	372	Toronto, ON	M5T 1G7
Comerica Bank	330	Toronto, ON	M5J 1J3
M & T Bank	357	Toronto, ON	M5J 2S1
Wells Fargo Bank	362	Toronto, ON	M5J 2VB

Credit Unions

Credit unions operate under centralized institution numbers by province:

Financial Institution	Institution Number	City	Postal Code
Central 1 Credit Union	809	Vancouver, QC	V6J 4S7
Fédération des caisses Desjardins du Quebec	815	Montreal, QC	H3B 0B1
Caisse Populaire Group Financier Ltée	819	Winnipeg, MB	R2H 0G4
Caisse Desjardins Ontario Credit Union Inc.	829	Ottawa, ON	K1L 8L8
Atlantic Central	839	Halifax, NS	B3K 5N3
Caisse populaire acadienne ltée	865	Caraquet, NB	E1W 1B7
Credit Union Central of Manitoba Limited	879	Winnipeg, MB	R3B 2H6
Credit Union Central of Saskatchewan	889	Regina, SK	S4P 3G8
Caisse populaire Alliance Limitée	890	North Bay, ON	P1B 4V6
Credit Union Central Alberta Limited	899	Calgary, AB	T2H 2N1

You can find the complete list of over 400 financial institutions in Canada at Payments Canada’s Directories page.

Where to find the institution numbers on a cheque

In Canada, for personal banking customers, the easiest way to find your bank’s institution number is to take a look at the bottom of a cheque associated with your account.

You will find a series of numbers printed in magnetic ink character recognition (MICR) format. The institution number is the 3-digit code between the 5-digit transit number and the 7+ digit account number.

Together, the transit number and institution number form the routing number that allows seamless electronic payments. For example:

• Transit Number: 20002 (Main Toronto branch)
• Institution Number: 003 (Royal Bank of Canada)
• Routing Number: 20002-003

Under this system, all money transfers are directed accurately through Canada’s payment network to the correct financial institution and branch account.

Can you find institution numbers without a cheque?

Not everyone uses cheques. If you don’t have a cheque, you can find your bank code in five ways:

• Your bank’s website: Most major banks list transit numbers and institution numbers somewhere on their website (often buried in FAQs or small print).
• Your bank statements and documentation: Your monthly statements often include complete banking information in the header. Additionally, account opening documents always contain these details.
• Direct deposit instructions: You can log in to your bank account and retrieve direct deposit instructions.
• Contact your branch: Reach out to an employee at your nearest branch location and request your numbers.
• Industry directories: As mentioned before, specialized sites like Payments.ca compile searchable databases of financial institution routing details across Canada.

How to set up direct deposit with institution numbers

A common need for your banking codes arises when setting up direct deposit of your pay, pension, or government benefits.

Follow these five steps for quick direct deposit setup:

Step 1: Log in to your employer/payer’s portal

Step 2: Navigate to payment methods

Step 3: Select direct deposit

Step 4: Enter your account details

Step 5: Save your details

Supplying accurate numbers helps avoid payment delays caused by misdirected deposits.

Tips for using institution numbers safely

While institution numbers alone cannot compromise your account, they form part of your complete banking credentials. Thus, never share full account details via unsecured channels. Share only with verified employers, government agencies, or trusted financial service providers.

Additionally, be cautious of unexpected requests for banking information, particularly those that create a sense of urgency. Legitimate organizations never ask you to confirm your institution number through emails or texts.

This same level of care should be used with other personal information, like your SIN number or a void cheque. Keeping them secure helps protect you from fraud.

FAQs about Canadian institution numbers

The bottom line

In summary, understanding these 3-digit codes ensures your financial operations run smoothly. Keep your institution number readily accessible but secure, and always verify you’re using the correct number before initiating any transaction. A few seconds of verification can save days of financial headaches.