Advice Center

Common Terms

U.S. Term	Canadian Term
ATM - Automated Teller Machine	ABM - Automated Banking Machine
CD - Certificate of Deposit TD - Timed Deposit	GIC - Guaranteed Investment Certificate
Check - Written instrument to draft money from a demand deposit account	Cheque - Same as U.S. term
IRA - Individual Retirement Account 401(k) - Employer sponsored retirement account	RRSP - Registered Retirement Savings Plan; can be interchangeable with either an IRA or a 401(k)
PIN - Personal Identification Number; 4 digits	PSC - Personal Security Code; 4 digits
ABA/ACH Number - 9-digit number identifying the bank's location and transit information	Transit & Bank (Institution) Number - 5-digit number identifying your branch and the 3-digit number identifying your bank (institution)
SSN - Social Security Number; 9 digits	SIN - Social Insurance Number; 9 digits
Visa Check Card - A debit card used to make purchases, access cash, and complete online transactions. The amount of the transaction is deducted from a corresponding checking account.	Debit or Client Card - Same as U.S. term