Routing numbers are used by Canadian banks as well as by trust companies and credit numbers in Canada are determined by Payments Canada.
Known by the common acronym "MICR", the magnetic ink character recognition code is widely used in the financial and banking industries to speed up the clearance and processing of documents such as cheques. On any instrument that contains a MICR number, the number is positioned on the bottom and allows for accurate matching of the cheque to the financial institution from which it came. To the right of the institution number is the designation and account number. On the left corner along the bottom, there is a check number. Bank Of Montreal The name of the banking institution to which this number refers.
