Bank of China Toronto Branch SWIFT/BIC code

What BKCHCA21 means for a payment to Bank of China Toronto Branch

BKCHCA21 and BKCHCA21XXX are the short and the long form of the same SWIFT/BIC code, and both lead to Bank of China Toronto Branch in Toronto. The code does one job: it makes sure that money from abroad reaches the right bank. In practice you mostly see the code on international invoices, in payment forms and in the bank details that Bank of China Toronto Branch provides.

Below we go through the practical side: receiving money at Bank of China Toronto Branch, sending money abroad and how to check a SWIFT code before you hit send. The SWIFT code on its own does not identify a personal account; that is what the IBAN or account number is for.

Watch out for payment fraud

A common scam goes like this: an email arrives with a message saying that a supplier now has new bank details and that the next payment should go there. The fact that BKCHCA21 exists does not mean that the account is legitimate; criminals use the codes of real banks too.

Never trust a phone number in the same message that contains the change. Pressure and requests to keep it quiet tend to be warning signs; a genuine business can wait for you to check. Already paid? Contact the bank you paid from without delay and have them try to recall the payment.

Scams can also target the receiver. Someone sends more than agreed and asks you to return the extra. Wait until the money has really arrived.

Transfer times and tracking a payment to Bank of China Toronto Branch

An international transfer typically needs one to a few business days – it depends on currency, route and the banks in between. Payments made after the cut-off time or just before weekends and holidays often go out the next business day. Occasionally a bank asks about the purpose of a payment.

When a payment takes longer than expected, ask your bank for the tracking status or the UETR. Save your transfer receipt until the recipient confirms.

If the money does not arrive after a few business days, the sender should contact the bank that sent it rather than Bank of China Toronto Branch. Ask the sender for the payment receipt including the reference; that often settles the question quickly.

Canadian Dollar (CAD) and conversion costs

Most accounts at Bank of China Toronto Branch are typically held in CAD, the national currency. When you pay another currency it has to be converted at some point – by your bank, by Bank of China Toronto Branch or by a bank in between. There is rarely a separate charge for that conversion – the cost sits in the rate.

Where the conversion happens affects the final amount. Compare how much CAD arrives via different providers.

Exchange rates move during the day. On larger amounts, even seemingly small gap in the rate can be worth more than the fee.

What the XXX in BKCHCA21XXX means

Every SWIFT/BIC code has the same eight core characters: a four-letter bank code, a two-letter country code and two characters for the location. For Bank of China Toronto Branch, that core is BKCHCA21.

XXX at the end of BKCHCA21XXX does not stand for a missing value or an error: it indicates the head office of Bank of China Toronto Branch. Some banking apps insist on 11 characters, and then you can enter XXX behind BKCHCA21.

As a rule the code is typed in capitals and without spaces. A wrong letter can send the money to another bank, so copy it carefully.

What a transfer from Bank of China Toronto Branch abroad really costs

A bank transfer abroad costs rather more than the fee suggests. Besides the transfer fee, banks in between may take a cut, and when currencies are converted, the bank usually applies a rate below the actual market rate.

Banks rarely show their exchange rate markup as a cost. An easy check: put the rate you get next to the mid-market rate and look at the difference.

For a lot of currency pairs, a transfer service is cheaper than a traditional bank transfer. GoldexPay compares what recipients receive across services, which makes the cheapest option easy to spot. Choosing a specialist does not require leaving Bank of China Toronto Branch – you pay the provider from your own account.

Incoming international payments to Bank of China Toronto Branch

For an international payment into your account at Bank of China Toronto Branch, the person paying you needs not just the BIC. In practice that means: your name exactly as it appears on the account, your IBAN or account number, the BIC BKCHCA21XXX (or BKCHCA21) and sometimes your postal address.

The sender’s bank may also ask for the address of your bank; the head office in Toronto is usually fine. Double-check the details before you share them.

Do not be surprised if the incoming amount is below the amount on the sender’s receipt. Intermediary banks may deduct a fee and your own bank may charge for processing, and when currencies differ, an exchange rate margin comes on top. On invoices, it is common to state how the fees are split to avoid a shortfall.

Before you send: check the Bank of China Toronto Branch code

Ask the recipient to copy their bank details straight from a recent statement. When the code you were given differs from BKCHCA21 or BKCHCA21XXX, stop and ask.

Mistakes in the SWIFT code tend to be costly rather than fatal. A mistake in the IBAN or account number can be more serious, because the money may be credited to someone else, so check that just as carefully.

Most online banking apps check the structure of IBANs and some suggest the matching BIC – that confirms the format, not the owner. More and more banks compare the payee name with the account – do not ignore a mismatch warning. Sending a small amount first is a sensible step for a large first payment despite the extra fee.

Where our SWIFT data comes from

We gather bank codes from public sources and check our list from time to time. Banks merge, close branches and retire codes, and a directory never catches every change immediately. The figures we show are based on our own data.

Treat this page as a starting point, rather than as the final word. GoldexPay is not affiliated with Bank of China Toronto Branch; we are a comparison site for money transfers. If you notice a mistake, we appreciate a message.

Head office or branch code at Bank of China Toronto Branch?

With 2 codes, Bank of China Toronto Branch is one of the banks that use individual codes for branches. The main code is BKCHCA21XXX.

Unless the recipient tells you otherwise, use BKCHCA21XXX. If you have been given a branch code, use it as it is rather than swapping it with the head office code.

Not sure which code applies? Ask the recipient. Branch codes are sometimes changed or retired when banks reorganise.