Canada Deposit Insurance Corporation (CDIC)

The Canada Deposit Insurance Corporation (CDIC) is a federal Crown corporation created in 1967 to protect the money you deposit in member financial institutions in case of their failure.

CDIC’s members are banks, trust companies, loan companies and cooperative credit associations that take deposits. The complete list of members can be found out at the CDIC website.


  • CDIC insures eligible deposits you make with our members. Insurable deposits include: savings accounts and chequing accounts;
  • term deposits, such as guaranteed investment certificates (GICs) and debentures issued by loan companies;
  • money orders, travellers’ cheques and bank drafts issued by CDIC members and cheques certified by CDIC members; and
  • accounts that hold funds to pay realty taxes on mortgaged properties.

To be eligible for deposit insurance protection, your deposit must be payable in Canada, in Canadian currency. Term deposits must be repayable no later than five years after the date of deposit.

Please note that Not all deposits and investments offered by our members are insurable. For example, CDIC does not insure:

  • foreign currency deposits (e.g., accounts in U.S. dollars);
  • term deposits with a maturity date of more than five years from the date of deposit;
  • debentures issued by banks, trust companies or cooperative credit associations;
  • bonds or debentures issued by governments and corporations;
  • Treasury bills; and
  • investments in mortgages, stocks or mutual funds.


Basic Protection
The maximum basic protection for eligible deposits is $100,000 (principal and interest combined) per depositor in each CDIC member institution. Deposits are not insured separately if made at different branch offices of a member.

Separate Protection
CDIC insures eligible deposits separately in each of the following cases:

  • savings held in one name;
  • savings held in more than one name (joint deposits);
  • savings held in trust for another person;
  • savings held in registered retirement savings plans (RRSPs);
  • savings held in registered retirement income funds (RRIFs);
  • savings held in tax-free savings accounts (TFSAs); and
  • savings held for paying realty taxes on mortgaged properties.

You are responsible for ensuring that the member institution’s records include all information required for the separate protection of these deposits (see following sections for details).

Joint Deposits
Deposits you own jointly with someone else are insured separately from deposits in your own name, provided that the records of the member institution:

  • indicate the deposits are owned jointly; and
  • include the name and address of each joint owner.

The maximum insurance for all deposits having the same joint owners at each member institution is $100,000 (collectively, not per individual owner).

Trust Deposits
Deposits held in trust are insured separately from deposits owned personally by the trustee or the beneficiary(ies) provided that the records of the member institution:

  • state that the deposit is held in trust;
  • identify the name and address of the trustee(s); and
  • identify the name(s) and address(es) of the beneficiary(ies).

If a trust deposit is held for more than one beneficiary, the dollar amount or percentage owned by each beneficiary must be identified on the CDIC member’s records each year as of April 30. Each beneficiary’s share then is insured up to $100,000.

For more information on CDIC, please visit CDIC’s Website.

Royal Trust Corporation of Canada Routing Transit Number

Royal Trust Corporation of Canada (“RT”) is wholly owned subsidiary of Royal Bank of Canada (RBC) which serves investors as trustee and custodians. RT ranks first in Canada in terms of assets under administration, with over $1.4 trillion. RT of Canada is 10th largest custodian in the world. Royal Trust Corporation of Canada’s Institution Number (or bank number) is 058. You can search routing number for this bank in your city below. Just click on the below links or type in your city after the bank name.

Bank Routing Number Search

Name of the Bank and City e.g. Royal Trust Corporation of Canada in Toronto

Barrie Belleville Brampton Brantford
Burlington Burnaby Calgary Cambridge
Charlottetown Chatham Coquitlam Dartmouth
Delta Downsview Edmonton Etobicoke
Forest Fredericton Guelph Halifax
Hamilton Kamloops Kanata Kelowna
Kingston Kitchener Leamington Lethbridge
London Medicine Hat Mississauga Moncton
Nanaimo Nepean Newmarket Niagara Falls
North Vancouver Oakville Orleans Oshawa
Ottawa Peterborough Petrolia Pickering
Red Deer Regina Saint John Sarnia
Saskatoon Sault Ste Marie Scarborough St Albert
St Catharines St Thomas St. John’s Strathroy
Thornhill Thunder Bay Toronto Tsawwassen
Unionville Vancouver Victoria Waterloo
West Vancouver White Rock Willowdale Windsor
Winnipeg Woodstock

National Trust Company Routing Number

The National Trust Company was incorporated on August 12, 1898 under the name of The National Trust Company of Ontario Limited. With the opening of an office in Montreal during 1899, the name is changed to The National Trust Company, Limited. By 1984, when National Trust amalgamated with The Victoria & Grey Trust Company, the company once again changed its name, this time to The National Victoria & Grey Trust Company. However, because the name was deemed too cumbersome, it is subsequently changed to the National Trust Company on June 03, 1985. On August 14, 1997 Scotiabank purchased the National Trust Company. National Trust Company’s Institution Number (or bank number) is 059. You can search routing number for this bank in your city below. Just click on the below links or type in your city after the bank name.

Bank Routing Number Search

Name of the Bank and City e.g. National Trust Company in Ontario

Ajax Alliston Ancaster Anjou
Arnprior Aylmer Barrie Belleville
Bowmanville Bracebridge Brampton Brantford
Brockville Brossard Burlington Burnaby
Calgary Camrose Cannington Chatham
Cobourg Collingwood Cornwall Downsview
Edmonton Etobicoke Exeter Goderich
Guelph Halifax Hamilton Hanover
Hull Huntsville Islington Kamloops
Kanata Kelowna Kincardine Kingston
Kirkland Kitchener Langley Laval
Leamington Lethbridge Lindsay Listowel
London Markdale Markham Meaford
Midland Milton Mississauga Mitchell
Montreal Mount Forest Mount-Royal Napanee
Newmarket North Bay North York Oakville
Orangeville Orillia Orleans Oshawa
Ottawa Owen Sound Palmerston Pembroke
Perth Peterborough Pickering Picton
Port Coquitlam Port Credit Port Elgin Quebec
Red Deer Regina Renfrew Richmond
Richmond Hill Sarnia Saskatoon Scarborough
Simcoe Smiths Falls St Catharines St Marys
Stoney Creek Stratford Sudbury Surrey
Tavistock Thornhill Thorold Tillsonburg
Toronto Trenton Vancouver Victoria
Wallaceburg Waterloo Weston Whitby
Willowdale Windsor Wingham Winnipeg

Laurentian Bank of Canada Routing Number

The Laurentian Bank of Canada (LBC) (French: Banque Laurentienne du Canada) is a Schedule I bank in the province of Quebec. (It also has one branch in Ottawa, Ontario). LBC’s Institution Number (or bank number) is 039. You can search routing number for the Laurentian Bank of Canada in your city below. Just click on the below links or type in your city after the bank name.

Bank Routing Number Search

Name of the Bank and City e.g. Laurentian Bank of Canada in Quebec

Alma Anjou Baie-Comeau Blainville
Brossard Calgary Chicoutimi Dollard-Des-Ormeaux
Drummondville Fort-Coulonge Gatineau Granby
Grand-Mere Greenfield Park Hull Ile-Perrot
Jonquiere Kitchener Lachine Lachute
Lasalle Laval Longueuil Montreal
Montreal-nord New Richmond Ottawa Quebec
Repentigny Rimouski Roberval Rosemere
Rouyn-Noranda Saint-Bruno Saint-Hubert Saint-Laurent
Saint-Leonard Sainte-Foy Sherbrooke St-Jean-sur-Richelieu
Surrey Terrebonne Toronto Tracy
Trois-Rivieres Val-d’Or Vancouver Verdun
Victoriaville Winnipeg

Schedule 3 Banks in Canada

Schedule III Banks are foreign banks which operate their branches in Canada. Thus, these are foreign banks permitted to carry on business in Canada. Examples include Bank of America, Capital One, Credit Suisse and Deutsche Bank AG. Unlike the Schedule I and Schedule II banks, the Schedule III banks are NOT incorporated under the Bank Act and they operate in Canada, usually within the country’s largest cities (being Toronto, Montreal, Calgary and Vancouver), under certain restrictions mentioned in the Bank Act.

Full Service Branches of Foreign Banks
As of September 2013, there were 24 such banks in Canada.

Bank Parent Country
Bank of America, National Association  USA
Bank of New York Mellon (The)  USA
Barclays Bank PLC (Canada Branch)  UK
Capital One Bank (Canada Branch)  USA
Citibank, N.A.  USA
Comerica Bank  USA
Deutsche Bank AG  Germany
Dexia Crédit Local S.A.  France Belgium
Fifth Third Bank  USA
First Commercial Bank  Taiwan
HSBC Bank USA, National Association  USA
JPMorgan Chase Bank, National Association  USA
M&T Bank  USA
Maple Bank  Germany
Mizuho Corporate Bank, Ltd., Canada Branch  Japan
Northern Trust Company, Canada Branch (The)  USA
Rabobank Nederland  Netherlands
Royal Bank of Scotland N.V.  UK
Société Générale (Canada Branch)  France
State Street  USA
U.S. Bank National Association  USA
UBS AG Canada Branch   Switzerland
United Overseas Bank Limited  Singapore
Wells Fargo Bank, National Association, Canadian Branch  USA

Lending Only Branches of Foreign Banks
There were 4 such banks in Canada in September, 2013.

Bank Parent Country
Credit Suisse, Toronto Branch  Switzerland
Merrill Lynch International Bank Limited  USA
PNC Bank Canada  USA
Union Bank of California, N.A.  USA

Schedule 2 Banks in Canada

Schedule II Banks in Canada are the banks in Canada which are subsidiaries of foreign banks. Schedule II Banks are allowed to accept deposits. Like the Schedule I banks, the Schedule II banks are incorporated under the Bank Act. Some examples of  Schedule 2 banks are AMEX Bank of Canada, Citibank Canada, HSBC Bank Canada etc. As of September 2013, there were 24 of these banks in Canada, however 3 were in liquidation.

Bank Parent Country
AMEX Bank of Canada  USA
Bank of America Canada (in voluntary liquidation)  USA
Bank of China (Canada)  China
Bank of Tokyo-Mitsubishi UFJ (Canada)  Japan
Bank One Canada (in voluntary liquidation)  USA
BNP Paribas (Canada)  France
BofA Canada Bank  USA
Citco Bank Canada  USA
Citibank Canada  USA
CTC Bank of Canada  Taiwan
Habib Canadian Bank   Switzerland
HSBC Bank Canada  UK
ICICI Bank Canada  India
Industrial and Commercial Bank of China (Canada)  China
J.P. Morgan Bank Canada  USA
J.P. Morgan Canada (in liquidation)  USA
Korea Exchange Bank of Canada  South Korea
Mega International Commercial Bank (Canada)  Taiwan
Shinhan Bank Canada  South Korea
Société Générale (Canada)  France
State Bank of India (Canada)  India
Sumitomo Mitsui Banking Corporation of Canada  Japan
UBS Bank (Canada)  Switzerland

Schedule 1 Banks in Canada

Banks in Canada are classified by their ownership as domestic banks, subsidiaries of foreign banks, or branches of foreign banks.

Under the Canada Bank Act, Schedule I are banks that are not a subsidiary of a foreign bank, i.e., domestic banks, even if they have foreign shareholders. There are 29 domestic banks as of February 2014. Because the Schedule I banks are not subsidiaries of any foreign bank, they are the true domestic banks and are the only banks allowed to receive, hold and enforce a special security interest described and provided for under the Bank Act and known to Canadian lawyers and bankers as the “Bank Act security”.

Bank Established Headquarters
B2B Bank 2012 Toronto
Bank of Montreal 1817 Montreal
Bank of Nova Scotia (Scotiabank) 1832 Toronto
Bank West (Desjardins Group) 2002 High River, Alberta
Bridgewater Bank 2006 Calgary
Canadian Imperial Bank of Commerce 1867 Toronto
Canadian Tire Bank 1968 Oakville, Ontario
Canadian Western Bank 1985 Edmonton
Citizens Bank of Canada 1997 Vancouver
CFF Bank 2013 Oakville, Ontario
Continental Bank of Canada 2013 Whitby
CS Alterna Bank 2000 Ottawa
DirectCash Bank 2007 Calgary
Equitable Bank 2013 Toronto
First Nations Bank of Canada 1996 Saskatoon
General Bank of Canada 2005 Edmonton
Hollis Canadian Bank 1998 Toronto
HomEquity Bank 2009 Toronto
ING Bank of Canada 2013 Toronto
Jameson Bank 2008 Toronto
Laurentian Bank of Canada 1846 Montreal
Manulife Bank of Canada 1993 Toronto
National Bank of Canada 1859 Montreal
Pacific & Western Bank of Canada 1980 London, Ontario
President’s Choice Bank 1996 Toronto
RedBrick Bank 2013 Oakville, Ontario
Rogers Bank 2013 Toronto
Royal Bank of Canada (RBC) 1864 Montreal
Toronto-Dominion Bank (TD Canada Trust) 1955 Toronto

Canada Banks Holiday Calendar 2014

Federally regulated institutions/banks are obligated under federal law to observe the statutory holidays stipulated in the Canada Labour Code. The observance of provincially legislated holidays is a discretionary business decision made by each bank. Below is the calendar followed by most banks for 2014 but there might be some difference because of provincially legislated holidays. Please contact your bank for exact holidays. Most banks publish their holiday calendar on their websites.

Date Occasion Region
Wednesday, January 1st New Year’s Day National holiday
Thursday, January 2nd Day after New Year’s Quebec only
Monday, February 10 Family Day British Columbia only
Monday, February 17 Family Day / Louis Riel Day Alberta, Ontario, Saskatchewan, Manitoba, P.E.I.
Friday, April 18 Good Friday National holiday
Monday, May 19 Victoria Day National holiday
Tuesday, June 24 St-Jean Baptiste Day Quebec only
Tuesday, July 1st Canada Day National holiday
Monday, August 4 Civic Day Except Quebec and P.-E.-I.
Monday, September 1st Labour Day National holiday
Monday, October 13 Thanksgiving Day National holiday
Tuesday, November 11 Remembrance Day National holiday
Thursday, December 25 Christmas Day National holiday
Friday, December 26 Boxing Day National holiday
Thursday January 1st 2015 New Year’s Day National holiday
Friday, January 2nd 2015 Day after New Year’s Quebec only