Sanwa Bank Canada SWIFT/BIC code

SWIFT/BIC code of Sanwa Bank Canada

SANCCAT1 and SANCCAT1XXX are two ways of writing the same SWIFT/BIC code, and both point to Sanwa Bank Canada in Toronto. Banks worldwide use these codes to route international transfers to the correct institution. In practice you mostly come across it on invoices from abroad, in your banking app and on the account details that Sanwa Bank Canada provides.

On this page you can read what the code is put together, when it matters and what else a transfer to or from Sanwa Bank Canada requires. The SWIFT code alone cannot identify an individual account holder; that is what the IBAN or account number is for.

Incoming international payments to Sanwa Bank Canada

To receive an international payment into your account at Sanwa Bank Canada, the sender has to have not just the SWIFT code. Share your name as the bank knows it, your account number or IBAN, the BIC SANCCAT1XXX and your address.

Certain banks also ask for the bank’s address in Toronto; it does no harm to include it. A mistake in the IBAN can be harder to fix than it looks; copy them from your banking app rather than typing.

The amount you receive is often less than the amount sent. Intermediary banks may deduct a fee, and when currencies differ, an exchange rate margin comes on top. For business payments, it is common to agree how the fees are split to avoid a shortfall.

About this information

We collect bank codes using public sources and check our list from time to time. Institutions merge, change names and change codes – a directory can be a step behind. Counts and locations are from our own dataset and are not confirmed by Sanwa Bank Canada.

Treat this page as a starting point, not as the last word. We are an independent comparison site for money transfers and not part of Sanwa Bank Canada. Spotted outdated information? Let us know via our contact form.

Head office or branch code at Sanwa Bank Canada?

Our database contains 2 SWIFT/BIC codes for Sanwa Bank Canada, spread over 2 cities. Next to the head office code SANCCAT1XXX, you will find codes for regional offices and specialised units.

Unless the recipient tells you otherwise, go with SANCCAT1XXX or its short form SANCCAT1. Only use a branch code when the account holder explicitly asks for it, for example on an invoice or in their bank details.

Not sure which code applies? Ask the recipient, or look at a recent statement from Sanwa Bank Canada. Codes for branches are more likely to change than SANCCAT1XXX when a bank merges or closes offices.

Scams that use SWIFT codes

Stay alert if someone suddenly wants you to send money to a different account abroad. A correct SWIFT code tells you nothing about whether the request is genuine – scammers simply use real codes.

Never trust contact details from the same email that announces the change. Urgency and secrecy are red flags. When money has already gone to the wrong account, call your bank right away: the sooner they act, the better the chance of a recall.

Fraud also target the receiver. Someone claims to have sent more than agreed and wants you to refund the difference. A payment confirmation from the sender proves nothing; only your own account shows what has arrived.

Is SANCCAT1 still correct? How to check

The safest source for a SWIFT code is the bank details provided by the recipient: an invoice, a bank statement or their online banking. Compare that code with SANCCAT1 on this page.

Errors in the BIC tend to be costly rather than fatal – usually the money comes back, minus fees and time lost. Do not forget the account number: a mistake there can be harder to undo than a wrong code.

A format check in your banking app merely tells you that the IBAN is valid. If your bank offers it, a payee name check before sending adds an extra layer of safety. When you pay someone new, many people send a small amount first and wait for confirmation.

Sending CAD to Sanwa Bank Canada

The local currency in Canada is the Canadian Dollar (CAD). If you send money in a different currency it gets converted at some point. There is rarely a separate line for that conversion – the cost sits in the rate.

Who converts the money makes a difference. Often it is cheaper to send CAD straight away via a provider that converts near the mid-market rate.

Exchange rates move all the time, and some providers let you lock in a rate. With bigger transfers, even small difference in the rate can be worth more than the fee.

SANCCAT1 or SANCCAT1XXX – which one to use?

The structure of a BIC is always the same: four characters for the institution, two for the country and a two-character location code, plus an optional branch code. In this case, that core is SANCCAT1.

Many banks and apps accept both lengths. If a form requires eleven characters, use SANCCAT1XXX; if it wants eight, use SANCCAT1.

Type the code in one piece, in upper case and without separators. Pasting the code is safer than retyping it: a typo can point to another bank.

Sending money abroad from Sanwa Bank Canada

What you pay for an international transfer has more than one component. Besides the transfer fee, banks in between can take a cut, and if currencies are converted the bank usually uses a rate that is less favourable than the real market rate.

Many banks do not show the margin on the rate separately, but you pay it all the same. A simple test: put the bank’s rate against the mid-market rate and look at the difference.

Money transfer services often offer a rate near the mid-market rate with clearer fees. Next time you send money, it is worth comparing what arrives via GoldexPay instead of going straight to your bank. You can always use your account at Sanwa Bank Canada to fund the transfer, while a cheaper service handles the conversion.

How long does an international transfer to Sanwa Bank Canada take?

An international transfer typically takes one to a few business days, depending on the currency, the route and the banks involved. Payments made late in the day or on a weekend or public holiday usually start the next business day. Extra checks by one of the banks can also cause some delay.

Many banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Every gpi transfer gets a unique transaction reference, the UETR, which your bank can use to see where the money is. Money transfer services usually provide a status online showing where the payment is.

A delayed transfer is investigated by the sending bank. Ask the sender for a copy of the payment confirmation – it helps your own bank look for the money.