20 April, 2009

How to transfer funds from Paypal to CIBC/RBC ?

Posted in Rantings at 12:43 am by Leon

Firstly Paypal will ask you for an account number, a transit number and an institution code.

You need to call your bank, and ask them for:

ACCOUNT NUMBER (7 to 12 digit number)

TRANSIT NUMBER (usually 5 digits)

and INSTITUTION CODE (3 digit number).

The Institution code for CIBC is 010

Here are some INSTITUTION CODES for Canadian banks:
001 – Bank of Montreal = BMO
002 – ScotiaBank
003 – Royal Bank of Canada
004 – Canada Trust = TD Bank
006 – National Bank of Canada
010 – CIBC = Canadian Imperial Bank of Commerce
016 – HSBC Bank Canada
177 – Bank of Canada
260 – Citibank of Canada
309 – Citizens Bank of Canada
614 – ING Bank of Canada

Usually an account number is like this (this one is RBC):

00334-51-08410 00334 is the transit number, and the remaining the account number

So, since it is RBC, you’d enter this info in paypal:

Institution Code: 003

Transit: 00319

Account #: 5108410

Usually you can call your bank and just ASK them for this info (you can also check on online-banking if you have it set up). The number to you bank is on the back of your debit card.

On a cheque, you can find the same info, it’s written like this: [ transit number ] [ institution code ] [ account number ]

About these ads

5 Comments »

  1. lcd said,

    You have great blog and this post is good!

    best regards, Greg

  2. HI- please leave reply i email address will not published fields are marked

  3. Guest said,

    I think you mean 00334 is the transit number? That is:

    Institution Code: 003

    Transit: 00334

    Account #: 5108410

    But thanks, great post.

  4. Punctually and to the point. I am very satisfied by my history essay.

  5. Incredible! This blog looks just like my old one!
    It’s on a entirely different topic but it has pretty much the same page layout and design. Great choice of colors!


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

%d bloggers like this: