Last modified by: Kevin Zimmer -
How to read a cheque for direct deposit set up
Many employees will provide a voided cheque for direct deposit payment. In order to set up an employee with direct deposit payment, we will need three numbers: the Route (financial institution), Transit and Account numbers, all of which can be found on a cheque.
The route number, often called the financial institution number, is a 3 digit number that identifies which bank a person is with.
Transit numbers are 5 digits and are usually the branch of the bank the employee is with.
Account numbers are anywhere from 7 digits upwards that identify the individual account for that person. TD Canada Trust and Scotiabank account numbers consist of both the designation number and account number- this means that both numbers are combined to get the full account number.
Cheque shows: 057 12345 004 987654321
The 057 is the cheque number. Do not enter this in the payroll system.
12345 is the transit
004 in the route
987654321 is the account
Some banks have samples of how to read their cheques online which can be accessed by the links below:
|Route / Financial Institution #||Bank Name|
|001||Bank of Montreal|
|004||TD Canada Trust|
|030||Canadian Western Bank|
|039||Laurentian Bank of Canada|
|326||Amicus (President's Choice)|
|809||Credit Union - BC|
|828||Credit Union - ON|
|879||Credit Union - MB|
|889||Credit Union - SK|
|899||Credit Union - MB|