BANK OF CANADA : Transit Numbers – Routing Numbers – July 22 2017

Anyone Brave enough to try to pay off your debts in CANADA ? Please drop us a message and comment on how it worked out for you, what you did so I can pass it along. Good Luck ! Zorra said only pay debt and bills off for now. Do not purchase anything as they are still trying to figure it out. Since I live in CANADA I would really appreciate some feedback of how it went for you so I can share it. P.S. I have NO idea how exactly this works for the Canadians. Just tell us your first name and how you did it, so we can share!

We need some front runners to test it out for Canada !

BANK OF CANADA : Transit Numbers – Routing Numbers

(Click on Transit Numbers / Routing Number to get more details about the Bank branch office.)
State City Postal Code Branch Address Routing Number Transit Number
ON Ottawa K1A 0G9 Banking Services 245 Sparks Street 017700000 00000-177
ON Ottawa K1A 0G9 Banking Services 245 Sparks Street 017700006 00006-177
(Enter complete or partial bank name to find details)

http://canada-banks-info.com/routing-numbers/bank-of-canada-routing-numbers/

What is the Routing Number?

A routing number identifies the financial institution and the branch to which a payment item is directed. Along with the account number, it is essential for delivering payments through the clearing system.

In Canada, there are two formats for routing numbers:

EFT Routing Number

An Electronic Fund Transactions (EFT) routing number is comprised of a three-digit financial institution number and a five-digit branch number, preceded by a “leading zero”.
Example : 0XXXYYYYY

  • 0 : Leading zero
  • YYY : Institution Number
  • XXXXX : Branch Number

The electronic routing number is used for routing electronic payment items, such as direct deposits and wire transfers.

MICR Number (Transit Number)

MICR Numbers or widely known as Transit Numbers are used in cheques processing. It appears on the bottom of negotiable instruments such as checks identifying the financial institution on which it was drawn.
A paper (MICR) routing number is comprised of a three-digit financial institution number and a five-digit branch number. It is encoded using magnetic ink on paper payment items (such as cheques).
Example : XXXXX-YYY

  • XXXXX : Branch Number
  • YYY : Institution Number

MICR stands for Magnetic Ink Character Recognition.

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