The transit number on a cheque is one of the most important digits when it comes to banking in Canada.
Whether you are sending a transfer, arranging a standing order, or providing your employer with your account information, the transit number is an important number to confirm.
In this article, we’ll be sharing where to find a transit number, how it compares to other Canadian bank numbers, and answering common questions we receive on the topic.
This article is part of our free series on banking in Canada, including articles on the leading Canadian institutions, the largest banks in Canada, and much more.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Transit Number on Cheque
- Transit Number vs Institution Numbers
- Transit Number vs Branch Numbers
- Frequently Asked Questions
- Do You Want Help Opening Bank Accounts?
Transit Number on Cheque
The transit number on a cheque in Canada identifies the specific branch of a financial institution where a bank account is held. Not to be confused with the institution number, the transit number is five digits and follows the three-digit cheque number on the bottom left-hand side of a physical cheque.
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Transit Number vs Institution Numbers
The main difference between a transit number and an institution number is that a transit number identifies a specific branch while an institution number identifies a specific financial institution.
In other words, you need both the transit number and the institution number to identify where an account is held. Of course, you also need the account number, to identify the specific account at the bank and branch.
The other differences between a transit number and an institution number include the length and location of these two numbers on a cheque. The transit number is five digits and is located immediately after the cheque number and before the institution number. On the other hand, the institution number is three digits and is located immediately after the transit number and before the account number.
Transit Number vs Branch Numbers
There is no difference between a transit number and a branch number. Instead, transit numbers and branch numbers are used interchangeably, describing the five-digit number that is found on the bottom of cheques in Canada, identifying the specific branch where a bank account is located.
Frequently Asked Questions
Below are four of the most common questions we receive from people looking into what a transit number on a cheque is. If you have further questions you would like to ask our team, don’t hesitate to get in touch.
How Do I Find My Transit Number On a Cheque?
You can find your transit number on a cheque by looking at the bottom of the cheque and searching for the continuous string of five digits. The other numbers are the cheque number, the institution number, and the account number.
What Is a Transit Number On a Cheque?
The transit number on a cheque is the five-digit code that identifies the specific branch of a Canadian bank. In combination with the institution number and the account number, it identifies the specific bank account that funds should be drawn from when fulfilling a cheque.
Where Is the Transit Number On a TD Cheque?
The transit number on a TD (Toronto Dominion) cheque is located on the bottom left-hand side of the cheque. It is immediately following the cheque number. The cheque number is the initial three digits. The transit number is the next five digits in the long string of coded digits.
What Institution Number is 002?
Institution number 002 represents the Bank of Nova Scotia (Scotiabank) in Canada. The institution number facilitates bank transactions between Canadian banks, including sending and receiving direct deposits and electronic funds transfers.
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