How to find Your TD Routing number
Are you applying for Life Insurance and having trouble finding your TD routing number to complete your application? Well, you are in the right place, this short article will show you how to get your TD routing number so you can finish your application and make sure your family gets the protection they are looking for.
What is a routing number you might ask?
In Canada, a routing number is an 8-digit banking code. It represents the financial institution (e.g., TD Bank, BMO, Tangerine, etc) and the specific branch (where that bank is physically located) that's associated with a bank account.
Along with your routing number is a branch number. The branch number is also known as the transit number. It's 5 digits long, and it corresponds to the TD branch that your bank account is based at. And it’s okay if that 5 digit number represents a branch you currently do not do your bank through.
The institution number represents the bank that your account is with, and it's always 3 digits long. TD's institution number is 004.
When combining all three, the routing number, the transit number, and the institution number your life insurance provider will have all the information they need to know which institution you wish to withdraw your premiums from.
The only other information they will need is your account number. This allows them to know which bank account at that specific branch to take your payments from.
How do you find your routing number?
The easiest way is to look at a blank cheque.
At the bottom, you will see a 3 digit number. This is the cheque number and it shows you how many cheques you have used.
From there you will see the 5 digit number, if you remember, is the transit number. Also known as the branch number.
Next another 3 digit number. This will be your Financial institution number. This number is only three digits long and as we discussed TDs is 004.
The next setup number should be (on most cheques) the 4 digit destination number. This is for internal uses at TD. Not something you would need on your application.
Last is your Account number. This is normally a 7-9 digit long number. And this number is specific to your bank account. Where all TD clients will use 004 as the institution number. This account number is unique to you.
What if you don’t have a cheque handy?
Some people don’t have cheques and it's become more common. Does this mean that you need to order one and wait days for it to arrive via snail mail just to identify your routing number?
Not at all. You can just look it up using your TD online banking account. Here's how to find online insurance quote :
Log in to your EasyWeb account.
Select "Accounts" from the left menu.
Select the account that you want your routing number for.
Click on the "Direct deposit form (PDF)" link on the right side of the page. This will display a pop-up PDF that's pre-filled with your branch number and institution number.
It is that easy.
Why do I need to use my TD routing number?
This is the easiest way insurance companies can withdraw your premiums. Once you have it set you don’t need to worry about it anymore. Back before banking was done electronically, insurance advisors would have to drive around every month and pick up cheques from their clients every month for their coverage. This process of using your routing information is much simpler even if it doesn’t seem like it.
