SWIFT/BIC codes in Canada: banks starting with U

SWIFT/BIC codes in Canada

This directory lists 395 banks and other institutions in Canada, with 613 SWIFT/BIC codes in total. You will need such a code mainly when making international transfers and for payments in a foreign currency.

Search for the bank you need below and click through to see all codes we have and what else a transfer requires. Below the list we explain how codes from Canada are built, how to send money to Canada at a fair price and how to check a code before you pay.

The largest SWIFT network in Canada: Ss and C Technologies Canada Corp

Of all banks we list for Canada, Ss and C Technologies Canada Corp is listed with the largest number of SWIFT codes. The head office uses FMCCCATMXXX – the code most transfers need.

The number of codes says more about how it organises its payments than about how big it is. Unless a branch code is given, FMCCCATMXXX is fine for transfers to this bank.

What a transfer to Canada really costs

An international bank payment to Canada often costs rather more than the fee suggests. Besides the fee, correspondent banks may take a cut and, if currencies are converted, the bank often applies a rate below the actual market rate.

That exchange rate margin tends to be the biggest part of the cost because it is hidden in the rate. A simple test: set the rate you get next to the mid-market rate and look at the difference.

For many routes, a transfer service is less expensive than a traditional bank transfer, mainly because of the rate. GoldexPay lists transfer services side by side so you can see what actually arrives in Canada for the same amount sent.

Transfer times to Canada

How quickly a payment arrives in Canada is determined by a few things: which currency you send, the number of banks in between, cut-off times and differences in time zone. Payments made late in the day or on weekends and holidays often go out the next business day.

A growing number of banks are connected to SWIFT gpi. Each gpi transfer gets a unique transaction reference, the UETR. Keep your transfer receipt – you will need it if something goes wrong.

What a sender needs to pay you in Canada

For an international payment in Canada, the sender needs more than the SWIFT code. Share the account holder’s name, the IBAN or account number, the BIC of your bank and your address.

Look up the bank in the list on this page to check its code – your bank statement is the final word. Some sending banks also ask for the name and address of your bank.

Expect that the amount credited is smaller than what the sender paid. Fees for incoming transfers vary per bank; check the price list of your bank. On invoices, state how the fees are split.

Verifying a SWIFT code from Canada

The most reliable place for the correct BIC is a document from the bank itself, such as a statement or the account page in online banking. When the code you were given does not match our list, stop and ask – contact the recipient or their bank.

This list is compiled from public sources that we update periodically. Still, banks merge, rename themselves or retire codes. Use this list as a starting point. GoldexPay is not a bank and is not affiliated with the banks listed.

Watch out for payment requests with changed bank details – a common fraud method. A real SWIFT code says nothing about who owns the account – scammers use the codes of real banks.

Paying a bank in Canada from abroad

Because Canada does not belong to SEPA, an international payment normally goes as a SWIFT payment. This means the payment always needs the BIC of the receiving bank, together with the account number or IBAN.

Not all countries use the IBAN – where there is none, the local account number is enough. Check with the recipient which details their bank requires for payments from abroad; banks often publish instructions for this. On the way to Canada, a payment may pass through correspondent banks that charge for their part.

Banks in Canada starting with :letter

This list only shows banks in Canada beginning with :letter in alphabetical order. The counts in the introduction always cover the whole country, not just this letter.

Bank not listed? The registered name may begin with another word – think of the full legal name instead of the brand. The full overview for Canada remains one click away if you cannot find the bank here.

Sending CAD to Canada

Most accounts in Canada are usually held in CAD, the local currency. If you send money in a different currency, it has to be converted somewhere along the way: by your bank, an intermediary or the receiving bank.

Where the conversion happens affects the final amount, since every bank sets its own rate. Often it is cheaper to send CAD straight away via a provider that converts near the mid-market rate rather than letting the receiving bank convert. With bigger transfers, a seemingly small gap in the rate adds up quickly.

What the letters in a Canada BIC mean

Bank identifier codes use the same format worldwide: 8 characters plus an optional three-character extension. Characters one to four identify the bank, the fifth and sixth characters form the country code and the next two mark the location.

Whatever the bank, all Canada codes share the same country code in positions five and six. When the country letters point to another country, you are looking at a bank somewhere else – worth double-checking.

If the last three are XXX, it refers to the main office and the short version works just as well. Choose a branch code only if the recipient’s bank asks for it – otherwise stick with the head office.