From pre-authorizing payments to getting paid, sample cheques still come in handy… even though cheques are rarely used in Canada. The main reason you need a B2B Bank sample cheque is to share your banking information with someone else.
Understanding Your B2B Bank Void Cheque
If you know what the numbers at the bottom of your B2B void cheque mean, you can probably just share them… without having to go looking for a Sample Cheque in your banking portal every time someone asks for one.
So, here are the important features of a cheque in Canada that you should be able to recognize by looking at one :
1. Your home address
This is the information you don’t need to look at a void cheque to know. However, it is often needed by those who ask you for a void cheque.
2. Your branch address
As B2B Bank is an online only bank, there are no brick and mortar branches. Rather all clients share the same “branch”. The address to use is: 199 Bay Street, Suite 600, Toronto, Ontario (ON), M5L 0A2
3. Your branch transit number
This is a 5-digit number that identifies the B2B Bank branch to which your bank account is associated. Again, B2B Bank is an online only bank so all customers share the same “branch.” and therefore the same branch transit number, which is 02431.
4. Your bank Institution Number
The institution number is a three-digit number that identifies the financial institution you are dealing with, regardless of the branch you have chosen. B2B’s institution number is 618.
5. Your account number (or folio number)
The account (or folio) number is the identifier for your bank account. Without the transit number and institution number, it cannot be used to transfer money. As a result, it is the most sensitive information you will find on your sample cheque, as it is the number that is associated with your bank account. This number varies in length depending on the financial institution but generally ranges from 7 to 12 digits.
How to find your sample cheque on the B2B online portal
Before the Internet, a void cheque was a paper cheque with “SAMPLE” or “VOID” written on it to ensure that the cheque could not be used. If you have a chequebook, you can still do this. In fact, a sample cheque is a document that contains all the information displayed on a cheque, so you can still do it that way.
For those who don’t want to waste paper, or who simply don’t have a chequebook, it is possible to obtain a B2B Bank void cheque by logging into the B2B online portal. Here are the steps to download a B2B sample cheque in PDF format with just a few clicks:
- Log into your B2B account through using the following link: https://onlinebanking.b2bbank.com/RetailB2B/servletcontroller
- On the side menu bar, click on “Void cheque”
- Click on the “Select account” dropdown, and then click on “Chequing account” to auto populate the Transit Number and Institution Number.
- Click on “Generate a void cheque”, to save or print.
Now you know everything you need to know about finding your B2B sample cheque, and how to interpret the different elements on it. Furthermore, you should now be able to write a cheque.
Compare dozens of Canadian chequing accounts and find the one that best suits your needs.
About The Author: Arthur Dubois
Passionate about personal finance and financial technology, Arthur Dubois is a writer and SEO specialist at Hardbacon. Since his arrival in Canada, he’s built his credit score from nothing.
Arthur invests in the stock market but doesn’t pay any fees because he uses National Bank Direct Brokerage online broker and Wealthsimple’s robo-advisor. He pays for his subscriptions online with his KOHO prepaid card, and uses his Tangerine credit card for most of his in-store purchases. When he buys bitcoins, it’s with the BitBuy online platform. Of course it goes without saying that he uses the Hardbacon app so that he can manage all of his finances from one convenient place.
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