Glossary - Financial Terms

Below are common terms when applying for electronic transfers in Canada or the United States.

Account Number: A series of 8-12 digit numbers used by banks to identify a specific bank account. If you have a check, you may find the account number.

ACH/ABA transfer Number: A 9-digit number used by banks to identify a Financial Institution within the United States for automatic bill payments; also referred to as a Routing Number.

Financial Institution Code: A 3-digit number that identifies a Financial Institution within Canada

Swift Code/ BIC Number: Consists of 8-11 characters that identifies a specific bank in an international transaction. BIC stands for Bank Identifier Code and is commonly referred to as a SWIFT code or Swift ID.

Transit Number: A 5-digit number that identifies a specific bank branch within Canada

Wire Transfer ABA Number: Similar to ABA routing number, a Wire Transfer ABA number consists of a 9-digit code used to identify a Financial Institution within the United States for wire transfers

Where to find this information?

You may find most of the required information on a check. If you do not have a check, your bank can help you find this information.