SWIFT Code POSUCAT1 — POLAR SECURITIES INC, TORONTO

About SWIFT Code POSUCAT1 — POLAR SECURITIES INC, TORONTO

SWIFT code POSUCAT1 is the official 8-character head-office BIC (Bank Identifier Code) for POLAR SECURITIES INC 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 POLAR SECURITIES INC 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 POSUCAT1

The code POSUCAT1 follows the ISO 9362 standard and breaks down as follows:

When to Use SWIFT Code POSUCAT1

Receiving International Wire Transfers

To receive money from abroad at your POLAR SECURITIES INC account in TORONTO, share SWIFT code POSUCAT1 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 POLAR SECURITIES INC, TORONTO must provide SWIFT code POSUCAT1. 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 POLAR SECURITIES INC in TORONTO rely on SWIFT code POSUCAT1 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 POLAR SECURITIES INC →

For cheque clearing or NACH mandates, use the MICR code for POLAR SECURITIES INC →

For TDS challan deposits, find the BSR code for POLAR SECURITIES INC →

How SWIFT Code POSUCAT1 Routes an International Transfer

1. Initiation: The sender provides SWIFT code POSUCAT1 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 POLAR SECURITIES INC.
4. Correspondent bank (if needed): An intermediary bank may relay the transfer, adding 1–2 business days.
5. Credit: POLAR SECURITIES INC receives the SWIFT message and credits the account. Total time: 1–5 business days.

Common Mistakes When Using SWIFT Code POSUCAT1

• Spaces or lowercase letters — Always enter POSUCAT1 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 POSUCAT1 directly with POLAR SECURITIES INC's TORONTO branch or via the SWIFT BIC Directory.