Research Capital Corporation SWIFT/BIC code

SWIFT/BIC code of Research Capital Corporation

The 8-character code RECCCAT1 and the full code RECCCAT1XXX identify the same bank: Research Capital Corporation, with its head office in Toronto. Every bank on the SWIFT network uses these codes to route international transfers to the right bank. It comes up mostly for transfers between countries or a currency.

This page is meant to help people who sends money to an account at Research Capital Corporation and wants to get the details right. Remember that the BIC just identifies the bank, not the person: the IBAN or account number does that part.

Getting paid from abroad into a Research Capital Corporation account

A sender in another country will ask for a few details from you – incomplete details often cause delays. What they need is: your name, IBAN or account number, RECCCAT1XXX or RECCCAT1 and in many cases your home address.

It helps to add Research Capital Corporation and Toronto as well. Double-check every detail before you share them.

An incoming payment does not always arrive for the full amount. Correspondent banks can take a fee, and if the money is converted, a markup on the rate comes on top. Make clear with the sender who pays which costs, especially for larger amounts.

Watch out for payment fraud

Be alert if someone suddenly wants you to send money to a different account or a bank in another country. That RECCCAT1 is a real code does not mean that a request mentioning it is legitimate.

Never trust contact details from the same email that announces the change. Urgency and secrecy tend to be warning signs; a genuine business can wait for you to check. Acted too fast? Contact your bank straight away and ask them to start a recall.

Fraud can also target the receiver. Someone sends more than agreed and asks you to return the difference. A screenshot of a transfer proves nothing; only your own account shows what has arrived.

How to check RECCCAT1 before you pay

The best place to find the right code is paperwork issued by the bank like a bank statement or the account page in online banking. When the code you were given differs from RECCCAT1 or RECCCAT1XXX, stop and ask.

With a wrong code, the transfer may get stuck, be returned or end up costing more – sometimes after weeks of searching. Do not forget the IBAN: a mistake there can be more difficult to correct than a wrong BIC.

Many banking apps validate the structure of an IBAN and sometimes look up the BIC automatically. More and more banks check the payee name against the account before you confirm. Sending a small amount first can be worth it for large sums despite the extra fee.

What the XXX in RECCCAT1XXX means

The layout of every SWIFT code is always the same: four characters for the institution, a two-letter country code and a two-character location code. Combined, those parts form RECCCAT1 – the version you usually see online.

The long version has a three-character extension for a branch or department. If the last three are XXX, the code points to the head office, which is why RECCCAT1XXX and RECCCAT1 lead to the same place.

Leave out spaces or dashes when you enter RECCCAT1 or RECCCAT1XXX. Look out for O versus 0 and the letter I and the digit 1.

Research Capital Corporation: head office code versus branch codes

Research Capital Corporation uses 2 different SWIFT/BIC codes across 1 locations. One of them is the head office code; the others identify branches.

In most cases there is no need to look up a branch: payments sent to RECCCAT1XXX are routed within Research Capital Corporation correctly. When you receive a specific code, stick to it instead of replacing it with the head office code.

The best way is to copy the code directly from the recipient’s statement. Branch codes are sometimes changed or retired over time, so do not rely on old paperwork.

A note on our data

This directory is based on public sources and we update it periodically. Institutions merge, change names and change codes – a directory can be a step behind. The figures we show reflect our own data, not official figures from Research Capital Corporation.

Before a payment that matters, always confirm the BIC with Research Capital Corporation or the recipient. We are a comparison service and not affiliated with Research Capital Corporation. If you notice a mistake, we welcome a message.

Paying someone abroad from your Research Capital Corporation account

What you pay for an international transfer has several parts, and the transfer fee is only the most visible one. You pay the transfer fee, sometimes charges from correspondent banks in between and, most importantly, the margin on the exchange rate.

Most of the cost usually sits in the exchange rate, not in the fee: the bank converts using an exchange rate that includes a margin. Check the rate you are offered against the mid-market rate – the rate you find on financial news sites.

For many routes, a specialist provider turns out to be less expensive than a traditional bank transfer – mostly thanks to the rate. On GoldexPay we compare the amount that arrives across services, so you can pick the cheapest route. You can always keep your account at Research Capital Corporation.

Paying into Research Capital Corporation in CAD

Canada pays in the Canadian Dollar, code CAD. A payment in a foreign currency will be exchanged into CAD before it reaches the account. Every conversion eats into something.

Where the conversion happens has an effect on how much arrives, since every bank sets its own rate. Check how much CAD arrives via several providers.

Rates for CAD move all the time, and some providers let you lock in a rate. For recurring payments, a slightly better rate add up over a year.

How long does an international transfer to Research Capital Corporation take?

There is no single delivery time: some arrive the same day or the next. Bank holidays in the sending or receiving country add extra days, since banks do not process on those days. Occasionally a bank wants to know about the purpose of a payment, which can hold things up.

A growing number of banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Each gpi transfer carries a unique transaction reference, the UETR that banks can use to trace it. Specialist transfer services often provide tracking online so you can see how far the money is.

A missing payment is traced from the sending side, using the payment confirmation. Ask the sender for the payment receipt including the reference; that often settles the question quickly.