Lombard Odier Securities (Canada) Inc. SWIFT/BIC code

What LOCYCAMM means for a payment to Lombard Odier Securities (Canada) Inc.

The short code LOCYCAMM and the full code LOCYCAMMXXX identify one and the same institution: Lombard Odier Securities (Canada) Inc. in Montreal, Canada. Banks worldwide use these codes to route payments between countries to the correct institution. It comes up mainly when dealing with payments that cross a border or a currency.

On this page we explain what the code means, when you need it and which other details a transfer to or from Lombard Odier Securities (Canada) Inc. requires. The SWIFT code alone cannot identify a personal account; for that you need the IBAN or account number .

International transfers from Lombard Odier Securities (Canada) Inc.: the real cost

A bank transfer abroad can cost more than the fee suggests. Besides the transfer fee, correspondent or intermediary banks may deduct a fee, and when currencies are converted, the bank often applies a rate that is less favourable than the actual market rate.

The markup on the rate tends to be the biggest item. Check their rate with the mid-market rate.

For a lot of currency pairs, a transfer service is less expensive than a bank, mainly because of the exchange rate. Before your next transfer, it is worth to compare what arrives on GoldexPay rather than accepting the bank’s rate by default. You can always keep your account at Lombard Odier Securities (Canada) Inc. as the source of the money, while a cheaper service handles the conversion.

What the XXX in LOCYCAMMXXX means

Every SWIFT/BIC code starts with an 8-character core: four letters for the bank, two letters for the country and two characters for the location. That gives you LOCYCAMM for Lombard Odier Securities (Canada) Inc..

The 11-character version adds a three-character extension for a branch or department. If the last three are XXX, they simply mean the head office.

Do not add spaces when you enter LOCYCAMM. Copying the code is safer than retyping it: a typo can point to another bank.

Is LOCYCAMM still correct? How to check

The best place to find the correct BIC remains paperwork issued by the bank. When the code you were given differs from LOCYCAMM or LOCYCAMMXXX, do not guess – contact the recipient or Lombard Odier Securities (Canada) Inc..

If the code is wrong, the transfer may get stuck, be returned or end up costing more – sometimes after weeks of searching. An error in the account number can be a bigger problem, because the money may be credited to someone else; check it just as carefully.

Many banking apps validate the structure of an IBAN. Where available, a payee name check on the recipient gives an extra layer of safety. When you pay someone new, some people start with a small amount first and wait for confirmation.

Watch out for payment fraud

One of the most common tricks goes like this: you receive a message claiming that a company has a new bank account and that the next payment should go there. That LOCYCAMM is a real code does not mean that a request mentioning it is legitimate – fraudsters use real bank codes as well.

Always confirm a change of bank details through a phone call. Be suspicious of time pressure, unusual wording or a sender address that is slightly off. If a payment has already gone to the wrong account, call your bank right away: the sooner they act, the better the chance of a recall.

Scams can also work the other way: someone claims to have sent too much and asks you to refund the difference. A screenshot of a transfer is no proof.

Getting paid from abroad into a Lombard Odier Securities (Canada) Inc. account

If you expect money from abroad, give the sender everything they need in one go. Give them your name as the bank knows it, your account number or IBAN, the BIC LOCYCAMMXXX and your address.

Their bank may request the address of your bank, in which case the Montreal head office is the usual answer. Check every detail before you send them.

Money from abroad will not always arrive for the full amount. Charges on incoming payments vary per bank – the price list of Lombard Odier Securities (Canada) Inc. tells you what applies. Make clear with the sender who covers the fees, especially for larger amounts.

Choosing between the 2 SWIFT codes of Lombard Odier Securities (Canada) Inc.

With 2 codes, Lombard Odier Securities (Canada) Inc. belongs to the banks that register individual codes for parts of the organisation. The main code remains LOCYCAMMXXX.

For most payments to a private or business account, the head office code LOCYCAMMXXX is what you need. Only use a branch code when your contact explicitly asks for it, for example on a letter or invoice.

Not sure which code to use? Ask the recipient. Branch codes are more prone to be retired than LOCYCAMMXXX when a bank merges or closes offices.

About this information

The codes here are taken from publicly available data which we refresh regularly. It can happen that information here is out of date, for example after a merger. Figures such as the number of codes are from our directory and may differ from what Lombard Odier Securities (Canada) Inc. publishes.

Treat our directory on this page as a handy check. GoldexPay has no connection to Lombard Odier Securities (Canada) Inc., we only compare transfer services. Should you notice something that is out of date, we appreciate a short note via the contact page.

How long does an international transfer to Lombard Odier Securities (Canada) Inc. take?

How quickly a payment reaches Lombard Odier Securities (Canada) Inc. is determined by a few things: the currency, the number of banks in between, cut-off times and time zones. Payments made late in the day or just before a weekend or public holiday usually start the next business day. Extra checks on larger or unusual payments can also cause some delay.

Many banks use SWIFT gpi, which lets them follow a payment from bank to bank. Every payment gets a unique transaction reference, the UETR, which your bank can use to see where the money is. Save your transfer receipt.

Only the sending bank can request a trace or a recall. On the receiving end, you can check your account for a slightly lower amount because fees can reduce the amount.

Canadian Dollar (CAD) and conversion costs

The national currency of Canada is the Canadian Dollar (CAD). A payment in a foreign currency is exchanged into CAD on its way to Lombard Odier Securities (Canada) Inc., and whoever converts it chooses the rate. Every conversion eats into the amount – usually through the rate rather than a fee.

Where the conversion happens has an effect on the final amount, since every bank sets its own rate. In many cases you pay less to send CAD straight away through a provider that converts near the mid-market rate rather than letting the receiving bank convert.

Exchange rates change during the day – some services let you fix a rate in advance. On larger amounts, even seemingly small gap in the rate adds up quickly.