SWIFT Code IBCNCAT1 — IBM CANADA, TORONTO

About SWIFT Code IBCNCAT1 — IBM CANADA, TORONTO

SWIFT code IBCNCAT1 is the official 8-character head-office BIC (Bank Identifier Code) for IBM CANADA in TORONTO, Canada. Standardised under ISO 9362 and maintained by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), this code is used exclusively for cross-border wire transfers and is recognised by financial institutions in over 200 countries.

This code must be provided to the sender when receiving money from abroad, and is required by IBM CANADA for all outward international remittances from TORONTO. Without the correct SWIFT code, international transfers to or from this branch cannot be processed.

How to Read SWIFT Code IBCNCAT1

The code IBCNCAT1 follows the ISO 9362 standard and breaks down as follows:

When to Use SWIFT Code IBCNCAT1

Receiving International Wire Transfers

To receive money from abroad at your IBM CANADA account in TORONTO, share SWIFT code IBCNCAT1 with the sender along with your full account number, your name as on the account, and the branch address.

NRI Remittances

Non-Resident Indians sending money to NRO/NRE accounts at IBM CANADA, TORONTO must provide SWIFT code IBCNCAT1. Major remittance platforms — including Wise, Remitly, Western Union, and MoneyGram — use this code to route transfers accurately.

Trade Finance and Foreign Payments

Importers and exporters using IBM CANADA in TORONTO rely on SWIFT code IBCNCAT1 for letters of credit, bank guarantees, and foreign currency settlements.

SWIFT Code vs IFSC vs MICR vs BSR — Key Differences

Need the IFSC code for domestic NEFT, RTGS, or UPI transfers? View the IFSC code for IBM CANADA →

For cheque clearing or NACH mandates, use the MICR code for IBM CANADA →

For TDS challan deposits, find the BSR code for IBM CANADA →

How SWIFT Code IBCNCAT1 Routes an International Transfer

1. Initiation: The sender provides SWIFT code IBCNCAT1 and account number to their bank.
2. Validation: The sending bank validates the BIC against the SWIFT registry.
3. Routing: An MT103 SWIFT message is transmitted through the network to IBM CANADA.
4. Correspondent bank (if needed): An intermediary bank may relay the transfer, adding 1–2 business days.
5. Credit: IBM CANADA receives the SWIFT message and credits the account. Total time: 1–5 business days.

Common Mistakes When Using SWIFT Code IBCNCAT1

• Spaces or lowercase letters — Always enter IBCNCAT1 uppercase with no spaces.
• Using the wrong city — This code is for TORONTO only.
• Truncating to 8 characters — When 11 characters are required, always use the full code.
• Using SWIFT for domestic transfers — Use the IFSC code for any transfer within Canada.

Data Accuracy

BankZop sources SWIFT/BIC data from publicly available banking registries and official disclosures, updated regularly. For the highest-stakes transactions, always confirm IBCNCAT1 directly with IBM CANADA's TORONTO branch or via the SWIFT BIC Directory.