Public Sector Pension Investment Board SWIFT/BIC code

Public Sector Pension Investment Board SWIFT code: PSPBCA21

PSPBCA21 and PSPBCA21XXX are two spellings of the same SWIFT/BIC code, and both point to Public Sector Pension Investment Board in Montreal. A SWIFT code shows the banks handling a payment exactly which bank is meant to get the money, much like a postcode for banks. In daily life you usually see the code on international invoices, in payment forms and on the account details of Public Sector Pension Investment Board customers.

On this page you can read how the code means, when you need it and what else you need for a transfer to or from Public Sector Pension Investment Board. A SWIFT code names a bank or branch, never a specific account; the IBAN or account number does that.

Protect yourself against fake payment requests

One of the most common tricks goes like this: you receive a message claiming that a company has new bank details and asking you to pay there from now on. The fact that PSPBCA21 exists does not mean that the account is legitimate.

Always verify changed bank details through a phone call, using a number you already had. Pressure and secrecy tend to be warning signs – a real supplier can wait a day. Already paid? Contact the bank you paid from without delay and have them start a recall; also report it to the police.

People receiving money can be targeted as well: one known trick is a buyer who pays too much followed by a request to refund the difference abroad. A payment confirmation from the sender proves nothing – check your own account.

Is PSPBCA21 still correct? How to check

The safest source for the BIC is the bank details provided by the recipient – an invoice, a statement or a screenshot from online banking. When the code you were given does not match PSPBCA21 or PSPBCA21XXX, do not guess.

A wrong SWIFT code can cause delays, a payment being sent back or additional charges for investigation. An error in the account number is more serious because it can reach the wrong person, so check that just as carefully.

An automatic check in your banking app merely tells you that the IBAN exists. If your bank offers it, a payee name check on the recipient gives extra certainty. When you pay someone new, some people start with a small amount first and wait for confirmation.

Getting paid from abroad into a Public Sector Pension Investment Board account

When you expect a payment from another country, send the payer a complete set of details. What they need is: the account holder’s name, account number or IBAN, PSPBCA21XXX and in many cases your home address.

Certain banks want the bank’s address in Montreal; it does no harm to include it. Double-check each detail before you share them, because the sender’s bank usually copies them as is.

What lands in your account is often less than what was sent. Charges on incoming payments vary from bank to bank. On invoices, it is common to agree who bears the costs, so that nobody is left short.

Canadian Dollar (CAD) and conversion costs

The currency of Canada is the Canadian Dollar (CAD). If you send another currency, the amount has to be converted at some point: by your bank, an intermediary or Public Sector Pension Investment Board itself. Every conversion eats into something, even when no fee is shown.

Who converts the money makes a difference: every bank has its own margin. Check what CAD arrives with different providers; the difference between options can be larger than you expect.

Rates for CAD change all the time, and some providers let you lock in a rate. With bigger transfers, a seemingly small gap in the rate can be worth more than the fee.

What the XXX in PSPBCA21XXX means

The structure of every SWIFT code never changes: four characters for the institution, two for the country and two for the location, plus an optional branch code. For Public Sector Pension Investment Board, the 8-character core is PSPBCA21.

XXX at the end of PSPBCA21XXX does not stand for a missing value or a mistake: it stands for the head office of Public Sector Pension Investment Board. Some forms insist on 11 characters, in which case you can add XXX behind PSPBCA21.

As a rule the code is written in capitals, without spaces or dashes. Watch for the letter O and the digit 0 and I versus 1, a common source of typos.

Head office or branch code at Public Sector Pension Investment Board?

Having 3 codes, Public Sector Pension Investment Board belongs to the banks that register separate codes for branches and departments. The main code remains PSPBCA21XXX.

For the vast majority of incoming transfers, the head office code PSPBCA21XXX is the right choice. If you have been given a specific code, stick to it rather than swapping it for the head office code.

Unsure which code to use? Ask the recipient or the bank itself. Branch codes are more likely to change than the head office code.

About this information

We gather bank codes from public sources and update our list regularly. It can happen that a code here is no longer current. The figures on this page are based on what is in our directory, not official figures from Public Sector Pension Investment Board.

Use our data as a starting point, not as the final word – the bank details from the recipient are leading. GoldexPay is independent of Public Sector Pension Investment Board, we only compare transfer services. If you notice something that is out of date, we appreciate a short note.

International transfers from Public Sector Pension Investment Board: the real cost

What you pay for a payment abroad is made up of several parts, and the transfer fee is only the most visible one. You pay the fee for the transfer itself, sometimes fees charged by intermediary banks along the way and, most importantly, the margin on the exchange rate if the currency changes.

The markup on the rate is often the largest item because it is hidden in the rate. Check their rate with the mid-market rate.

Specialised transfer providers frequently offer rates closer to the mid-market rate with clearer fees. GoldexPay compares the amount that arrives across services, which makes the cheapest option easy to spot. You can always use your account at Public Sector Pension Investment Board; only the conversion and sending happen elsewhere.

Tracking a transfer to or from Public Sector Pension Investment Board

How quickly a payment arrives at Public Sector Pension Investment Board is determined by several factors: the currency, how many intermediary banks are involved, cut-off times and time zones. Bank holidays in either country can add extra days to the journey. Sometimes a bank asks about the purpose of a payment before releasing it.

If the money seems late, contact your bank about the status and the transaction reference. Specialist transfer services often provide tracking in their app so you can see how far the payment is.

A delayed transfer is investigated from the sending side, using the payment confirmation. Request from the sender the payment receipt with the date and reference – it helps your own bank look for the money.