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Xoom Help Center

What are the Bank Deposit requirements in Canada?

You will be asked to provide the following recipient information to successfully complete your bank deposit to a Canadian account:
  •      Bank Name
  •      Transit number (5 digits) – identifies the bank branch
  •      Institution number (3 digits) – for most banks, this information will be populated for you
  •      Account Number (5-12 characters)
  •      Name as it appears on the bank account
  •      Complete address, including City and Province
  •      A valid phone number
To avoid processing issues and ensure the completion of your transaction in a timely fashion, please ensure that you are sending funds to a personal, single currency Canadian Dollar account.
Transactions to non-Canadian dollar or multi-currency accounts cannot be processed. Deposits to business accounts are not encouraged.

What is a multi-currency account?
A multi-currency account has one bank account number and can hold balances in more than one currency. Deposits to multi-currency accounts cannot be processed.

Why are deposits to a business account discouraged?
Xoom is a person-to-person remittance service and does not support transactions for goods or business purposes.  While you may be able to submit a transaction intended for a business,  the transaction will eventually be rejected or the transaction will not be completed as the business receiving the payment will not be able to associate it with an invoice number.

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