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I regularly receive wire transfers in my account. Will I still receive these automatically or do I need to change my banking information?

You will need to contact the person/business who is sending you wire transfers as our Swift/BIC (banking identifier code) has changed. If your wire is being sent from within Canada, we will be able to process it until November 30, 2023. After this date, it will be rejected, and we will not be able to deposit it in your account. If ever, it is being sent from another country, unfortunately it will be rejected immediately as the Swift/BIC code is going to our previous provider and it will not be able to process. It is imperative to send the new wire instructions to the sender immediately. Even if you use your current banking information, you will still receive the wire as long as the Swift/BIC code gets changed. Please see the instructions below:

  • If you are receiving a wire transfer within Canada in CDN currency, please use the CDN Domestic form: Form 2605
  • If you are receiving a wire transfer in USD currency from any country (including Canada), please use the USD form: Form 2606
  • If you are receiving CDN currency from any country (other than Canada), please use the CDN international form: Form 2607.

 

Note: if you are receiving any currency other than USD or CDN, please contact your branch as there are specific instructions for those currencies. This ensures the wire transfer comes through timely and reduces the risk of rejected or lost wires.

 

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