What Is a Transit Number?

by Craig Anthony

0 min read

A transit number is a series of numbers used to identify your specific bank branch. The five-digit numerical code is the first series of numbers listed along the bottom of your cheque. After the transit number, the three-digit financial institution number and the account number are listed. The account number is typically five to 12 digits long.

Small business owners need a transit number, financial institution number and account number to wire a tax payment to the Canada Revenue Agency. You need to provide the CRA with the same information to have a refund directly deposited into your bank account.

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