Sakura Bank (Canada) SWIFT/BIC code

Sakura Bank (Canada) SWIFT code: MITKCA81

MITKCA81 and MITKCA81XXX are the short and the long form of the same SWIFT/BIC code, and both lead to Sakura Bank (Canada) in Vancouver. A SWIFT code shows the banks handling a payment which institution is meant to get the money, a bit like a postal address for banks. You will need it mostly when dealing with payments that cross a border.

Further down you will find the practical questions: money coming in from abroad, sending money abroad and how to check the code before you hit send. A SWIFT code names a bank or branch, never a single account; the IBAN or account number does that.

Changed bank details? Be careful

Be alert when a contact suddenly wants you to send money to another account. The fact that MITKCA81 exists is no guarantee that a request mentioning it is legitimate – fraudsters use real bank codes as well.

Never trust contact details in the same message that contains the change. Watch out for urgent requests, unusual wording or a sender address that is slightly off. When a payment was sent to a fraudster, contact your bank immediately – speed improves the chance of getting it back.

Recipients are targeted too: one known trick is an overpayment followed by a request to refund the difference. Wait until the money has really arrived.

What to give a sender who pays you at Sakura Bank (Canada)

To receive an international payment into your account at Sakura Bank (Canada), the person paying you needs not just the SWIFT code. That means: your name as registered with Sakura Bank (Canada), your account number or IBAN, the BIC MITKCA81XXX (or MITKCA81) and sometimes your address.

Their bank might also ask for the address of your bank, in which case the Vancouver head office is the usual answer. Check every detail before you send them, because the sender’s bank usually copies them as is.

An incoming payment does not always arrive in full. Correspondent banks can take a fee, Sakura Bank (Canada) may charge for incoming payments, and when currencies differ, an exchange rate margin comes on top. Make clear with the sender who pays which costs before the money is sent.

Why Sakura Bank (Canada) has an 8- and an 11-character code

The layout of every SWIFT code is always the same: four characters for the institution, two for the country and a two-character location code, plus an optional branch code. The result is MITKCA81.

Many banks and apps work with both lengths. If yours asks for eleven characters, enter MITKCA81XXX.

Type the code as one block, in upper case and without spaces, exactly as shown here. Copying the code is safer than typing it by hand, because one wrong letter changes the bank.

Verifying the SWIFT code of Sakura Bank (Canada)

The most reliable source for a SWIFT code is the bank details provided by the recipient. Compare it against MITKCA81 on this page.

With a wrong code, the transfer might be delayed, be returned or end up costing more – sometimes after weeks of searching. A mistake in the IBAN or account number can be more serious, because the money may be credited to someone else; check it just as carefully.

Most online banking apps validate the format of an IBAN and some suggest the matching BIC, but that does not prove the account belongs to the right person. Where available, a name check before sending adds extra certainty. Sending a small amount first is a sensible step for a large first payment, even if it costs an extra fee.

Sending money abroad from Sakura Bank (Canada)

The price of an international transfer has more than one component. Besides the transfer fee, correspondent or intermediary banks can take a cut, and when currencies are converted, the bank usually applies a rate below the real market rate.

Most of the cost usually sits in the exchange rate, rather than in the fee: many banks convert at a rate that includes a margin. Check the rate you are offered against the mid-market rate, the midpoint between buy and sell rates you see on financial sites. The difference is your real conversion cost.

Specialised transfer providers often offer a rate near the mid-market rate and lower fees. GoldexPay lists transfer providers next to each other, showing what actually arrives for the same amount sent. You can always keep your account at Sakura Bank (Canada), while a cheaper service handles the conversion.

Transfer times and tracking a payment to Sakura Bank (Canada)

There is no single answer: some arrive within a day. Payments made after the cut-off time or on weekends and holidays often go out the next business day. Extra checks on larger or unusual payments may also add a delay, regardless of the details.

A growing number of banks are connected to SWIFT gpi. Every payment carries a unique reference, the UETR that banks can use to trace it. Keep the payment confirmation until the recipient confirms; it contains the details a bank needs to start a trace.

If a payment has not arrived after a few business days, the sender needs to contact their own bank, not the receiving bank. As a recipient, it helps to check your statements to see a slightly lower amount because fees can reduce the amount.

A note on our data

We collect bank codes from publicly available data and update them regularly. It is possible that information on this page is no longer current after a merger or reorganisation. The number of codes we show are based on our own data and not on information from Sakura Bank (Canada) itself.

Treat this page as a reference, not as the final word – the bank details from the recipient are leading. GoldexPay is not affiliated with Sakura Bank (Canada). If you notice a mistake, we welcome a short note via the contact page.

Sending CAD to Sakura Bank (Canada)

The local currency of Canada is the Canadian Dollar (CAD). If you send money in a different currency it has to be converted somewhere along the way – by your bank, by Sakura Bank (Canada) or by a bank in between. Each conversion costs the amount.

Which bank converts the money makes a difference, because each party uses its own rate. In many cases you pay less to send CAD directly via a provider with a good rate.

Rates for CAD move during the day. With bigger transfers, a small gap in the rate adds up quickly.

Choosing between the 2 SWIFT codes of Sakura Bank (Canada)

Our directory lists 2 SWIFT/BIC codes for Sakura Bank (Canada) in 2 cities. Besides the head office code MITKCA81XXX, there are codes for branches, departments or specific services.

In most cases you do not need to look up a branch: payments addressed to MITKCA81XXX are routed within Sakura Bank (Canada) correctly. Branch codes are only needed if the account holder explicitly asks for it, which is more common for corporate accounts and trade services.

If you are not sure, check with the recipient for the exact BIC in their bank details. Branch codes are more prone to be retired than MITKCA81XXX when a bank merges or closes offices.