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 Vancity sample cheque is to share your banking information with someone else.
Understanding Your Vancity Sample Cheque
If you know what the numbers at the bottom of your Vancity sample 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 sample cheque to know. However, it is often needed by those who ask you for a sample cheque.
2. Your branch address
This is the address of your Vancity branch. Note that some Vancity branches have more than one point of service.
3. Your branch transit number
This is a 5-digit number that identifies the Vancity branch to which your bank account is associated.
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. Vancity ’s institution number is 809.
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 Vancity online portal
Before the Internet, a sample 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.
If you don't have a chequebook, there is a simple alternative. Unlike some financial institutions, which allow a sample cheque to be downloaded from their client portal, Vancity invites its clients to download a document that works the same way, a direct deposit form that you will need to complete yourself. Indeed, once you have completed the form, it will contain all the information available on a cheque and anyone who asks you for a sample cheque will accept it. Here are the steps to download and complete the Vancity direct deposit form:
- First, download the direct deposit form: https://www.vancity.com/SharedContent/documents/forms/Vancity-direct-deposit-pre-authorized-payment.pdf
- Next, you’ll need to fill it out with your account information.
- To find your account number, follow this link and log in to your account: http://www.vancity.com/onlinebanking
- Once on the Account Summary page, you will see your accounts and the account number for each.
- Click on “Account Activity” in the left side menu, and then click on “More Details”. Here you will find the transit number and institution number.
- Finally, to find the branch number follow this link and search your area for your branch: https://www.vancity.com/ContactUs/FindBranchATM/?xcid=redirect
Now you know everything you need to in order to find your account information and understand your sample cheque as a Vancity customer! Furthermore, you should now be able to write a cheque.
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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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