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Most institutions use the transit number and branch number synonymously. TD and Bank of Montreal use four-digit branch numbers, reserving the final digit of the transit number for the geographical location of the branch. While there is variation between institutions, most transit numbers encode geographic region into the last digit using a ...
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.
The Huron and Erie–Canada Trust headquarters in London, Ontario is visible in this 1960 photo. Today, the building houses a branch of the successor bank, TD Canada Trust, with the first transit number assigned to TD: 0001. [4] [5]
TD Canada Trust branch in Edmonton, Alberta. The Bank of Toronto (founded in 1855) and The Dominion Bank (founded in 1869) merged on 1 February 1955 to form TD Bank. Canada Trust, founded in 1864 in London, Ontario as Huron and Erie Savings and Loan Society, was acquired by TD Bank in 2000, after which TD adopted the new brand name "TD Bank Financial Group".
The remaining branch in Paris, Ontario, was sold to Laurentian Bank of Canada. In all six TD branches and seven Canada Trust branches specifically changed hands to meet the Competition Bureau's requirements. [18] In response, TD announced it would close 275 branches, representing 4,900 employees, to adhere to the ruling and to reduce overall costs.
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Transit number may refer to: ABA routing transit number , a bank code used in the United States Transit number, the branch identification portion of a Canadian bank routing number
The sort code is usually formatted as three pairs of numbers, for example 12-34-56. It identifies both the bank (in the first digit or the first two digits) and the branch where the account is held. [1] Sort codes are encoded into International Bank Account Numbers (IBANs) but are not encoded into Business Identifier Codes (BICs).