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A typical British bank statement header (from a fictitious bank), showing the location of the account's IBAN. The International Bank Account Number (IBAN) is an internationally agreed upon system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors.
Simplii Financial shares Institution Number 010 with its parent CIBC. Its SWIFT/BIC code is CIBCCATT, and all Simplii clients share a branch-transit number of 30800. As a division of CIBC, Simplii Financial is insured under the Canada Deposit Insurance Corporation (CDIC).
CIBC has also partnered with a number of other Canadian corporations, such as Petro-Canada. As part of its purchase of MasterCard from Citibank Canada in 2010, CIBC acquired the co-branded Petro-Canada rewards credit card and continues to jointly market the card. [22]
A routing number is the term for bank codes in Canada.Routing numbers consist of eight numerical digits with a dash between the fifth and sixth digit for paper financial documents encoded with magnetic ink character recognition and nine numerical digits without dashes for electronic funds transfers.
Canada uses codes called routing numbers. [3] They consist of 5 digits identifying the branch and the 3 digits identifying the financial institution. United States - The American Bankers Association since 1910 has used a 9-digit routing transit number to identify American banks, which are used in the automated processing of checks.
In 1998, the Bank of Montreal proposed a merger with the Royal Bank of Canada around the same time that CIBC proposed to combine with the Toronto-Dominion Bank. [23] The banks argued that these mergers would enable them to compete globally with other financial institutions. [33] This would have left Canada with only three major national banks.
Citibank Canada, operating as Citi Canada, is the Canadian subsidiary of the American multinational financial services corporation Citigroup. Citi Canada is headquartered in Toronto, Ontario , with offices in Calgary , London, Ontario , Montreal , Mississauga , and Vancouver .
On August 16, 2017, it was announced that Loblaw Companies and CIBC had mutually decided to terminate their joint venture to provide consumer banking products. [6] All PC Financial mortgages, loans, investments, and bank accounts were transferred to CIBC's new direct banking brand Simplii Financial effective November 1, 2017. [ 7 ]