Knowing how to find your RBC routing number is something you should understand, especially if you’re banking with RBC. This will go a long way in helping you with any banking concerns. Check out how to find an RBC routing number.
RBC’s routing number is a form of code used with your account number electronically to identify your account. This is your institution and branch numbers, usually in 8 or 9 digits.
The best places to check for your routing number include the bottom panel of your cheques, your RBC online account, and the branch address you bank with.
Knowing your routing number makes it easy for financial institutions to process any payment to your account.
Plus, it saves you the time of going to the bank to make minor transactions. This article will cover everything you need to know about finding the RBC routing number. Sit tight and keep reading.
What is an RBC routing number?
RBC is an acronym for Royal Bank of Canada, one of Canada’s biggest banks. The RBC number is a form of code that identifies your account.
It usually comes in 8–9 digits, depending on how you make the transaction. It facilitates finding the financial institution and branch office connected to your bank account.
It consists of a 3-digit financial institution number and a 5-digit branch number, also called a transit number.
You must add your transit and institution numbers to determine your routing number. The proper transfer of payments for transactions like the following requires a routing number:
- Cheques
- Electronic funds transfer between bank accounts
- Direct deposit
- Wire transfer
Whether you want to make automatic or direct payments for your mortgage or request a wire transfer, you must know your RBC bank routing number.
It is worth noting that routing numbers come in different formats, depending on how the transaction is conducted electronically or by cheque.
How to find your routing number RBC Canada
Locating your RBC routing number is easy, as you can identify it differently. Here’s how to find the RBC routing number easily.
- Through your mobile app
- Your Bank cheques
- Bank branch
- Through your bank account statement
Through your mobile banking app
You can sign into your RBC mobile banking app or view a voided cheque to access your routing number. The following are the steps to view your RBC routing number in Canada:
- Sign into your RBC mobile banking app
- Select a chequing account from the list given.
- Click “View and Print Payroll Direct Deposit Form” from the top-right corner.
- The portal will display your chosen bank account in the “Account” section.
- Your pre-filled form will open when you select “View and Print.”
- Your branch and institution numbers will display after your cheque number.
Your bank cheques
Your bank cheque contains a series of numbers, each separated by colons. Your account, cheque, institution, and branch numbers are inscribed on your paper cheque. To find your routing number using your cheque, simply do the following:
- Get a cheque from the account for which you need the routing number.
- Look for a series of numbers in the bottom-left area of the cheque.
- The first set of numbers on the left is your bank’s routing number, that is, 3 digit institution number and 5 digits branch number combined.
Bank branch
In Canada, RBC has the largest network of ABMs and branch locations. Find a nearby RBC branch or ABM for your everyday banking needs, including obtaining your RBC routing number.
Through your bank account statement
Banks are known to mail customers monthly account statements, which usually carry the RBC routing number alongside other account information.
Go through your account statement to locate your routing number at RBC Canada.
When to use your RBC routing number
You know how to get your RBC routing number, but you need to figure out when it comes in handy. Generally, routing numbers are for transactions entering and leaving your bank account.
To be more specific, your RBC routing number can come in handy for several financial operations, which include:
- Automated clearing house (ACH) transfers between two different accounts
- Setting up direct deposit for company payments and benefits
- Automatic loan payments, such as mortgage and online bill payments
- Initiating a wire transfer.
- Direct deposit setup for tax payments or refunds.
It’s important that you note that routing numbers have no business with credit or debit card purchases.
Why you should know your RBC routing number
You can manage your finances properly when you understand the importance of finding your RBC routing number. The reasons are not far-fetched. They are:
Assists with wire transfers
With your RBC routing number, you’re sure to transfer money between banks easily and quickly.
Knowing the routing and account numbers of the person you’re sending money to will help the transfer go smoothly. You need the following details to wire money to or from a bank or credit union:
- Complete name and address of the beneficiary
- Name, address, and contact details of the recipient.
- Account number and account type of the beneficiary.
- Routing number for the beneficiary bank (domestic transfers ) or the IBAN and BIC/SWIFT codes of the beneficiary’s bank (international transfers).
Transfer your money between banks
Transferring money from one bank to another is easy when you know your routing number. You must enter your RBC routing number where appropriate when transferring.
It may be unnecessary, but it helps to indicate the particular bank that receives the money.
Secure a tax refund deposit
Take a second to think about how long you have to wait to get your tax refund by cheque. You definitely don’t want that!
So if you want your tax refunds deposited into the correct bank account, you know what to do. Choose any of the ways listed above to find your RBC routing number.
Facilitates online bill payments
There’s no question that automatic online payments help you keep track of your money. The best part is that this online payment has become the day’s order for lenders and creditors.
With your RBC routing number, you can use your debit or credit card to set up this automatic payment. You should set up the ACH payment if you’d prefer your bank to deduct the money automatically.
Making direct deposit
Direct deposits make it easier to get your money, unlike cheques. Take, for instance, the case where your employer sends your paycheck through direct deposit instead of a cheque. What does that mean? That saves you time from going to the bank to cash your pay.
You should remember that you need more than your account number to set up the DD, and that’s where your RBC routing number comes in. Therefore, to get a direct deposit, fill out a form at work to indicate the exact place your money should go.
What is the format of RBC routing numbers?
The RBC routing numbers take an 8-9 digit code form, with each digit representing different information separately. Either an electronic funds transfer (ETF) or a paper document with magnetic ink character recognition (MICR) could be used for your transaction.
For the paper document, which is the bank cheque, your routing number takes the following form:
- A 3-digit financial institution number that indicates the bank you operate with.
- A 5-digit branch/transit number that indicates the exact branch you bank with.
The electronic fund transfer (ETF) comes in this form:
- 3-digit institution number, which is referred to as a bank code.
- 5-digit branch/transit number
- The last digit validates the routing number.
For further illustration, the routing number for both types of transactions will appear in this format:
- XXXXX-YYY for a paper transaction
- 0YYYXXXXX for an electronic transaction
How to find an RBC routing number conclusion
We hope this article has helped describe how to find RBC routing number. In Canada, the RBC routing number typically consists of 8 digits. They are accessible through online banking or the lower section of your cheque.
A single routing number cannot be applied universally to all bank branches. This is due to the unique routing number that each branch has.
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