![]() How the beneficiary can collect their funds Any other information they have like sort codes or routing code.A SWIFT code or BIC (this identifies their bank) and the full bank address.You will need to provide beneficiary details so that RBC knows where to send your money. Tap on “Send Money” / “Move Money” and select “International Money Transfer”.Follow the on-screen instructions and enter your details and the beneficiary's details.On the right side of the Accounts Summary page under Quick Payments & Transfers, select “International Money Transfer”.In order to send an international wire transfer with RBC, you will need to do the following. How to make an RBC international wire transfer? If you’re in a hurry, try finding the fastest way to send money abroad by comparing all international money transfer services with Monito. The total amount of time taken depends on the country and currency that you’re transferring money to. RBC state that the recipient will normally receive funds into their account between two and five business days after you have initiated and paid for the transfer. How long does an RBC international wire take to arrive at the recipient bank? This is why it is generally not recommended to wire money internationally with RBC if you’re looking for the cheapest way to send money abroad, but to compare all providers with Monito and find cheaper alternatives.įind out more with our complete guide on how banks and money transfer operators make money with hidden fees. For example, if you’re sending $1,000 CAD to Pakistan, RBC offers an exchange rate of 102.24 PKR for a CAD, around three percent worse than the interbank rate.Ĭombined with their transfer fee, this can make them $50 CAD more expensive when sending $1,000 to Pakistan than a specialist currency provider like WorldRemit or TransferWise. Meaning that your international wire transfer gets converted at a worst exchange rate than what RBC's gets on the markets, the difference going in their pocket.Īt Monito, we compare multiple providers when sending from Canada to another country. what you find on Google), we calculate that RBC applies a mark-up between 2-4% on exchange rates. Comparing the exchange rate provided on this widget to the mid-market exchange rate (i.e. RBC provides a calculator on their widget to get the exchange rates applied on draft and wire transfers on their website. The financial institution on the receiving end of the transaction may have other requirements.” RBC exchange rates for international transfers Additional service fees by any intermediary and receiving bank may apply. RBC also state that: “Excess debit transaction fee may also apply depending on the account. Incoming wire payment from another financial institution located anywhere worldwide: $17 CAD if the transfer is for over $50.Outgoing wire payment within Canada or to other countries: $45 CAD.Outgoing international money transfers via RBC online banking or the RBC mobile app: $13.50 CAD per transfer.RBC lists their fixed fees for international money transfers as follows: What are RBC’s international wire fees and exchange rates? RBC does provide telephone support for international wire transfers at 1-80. They will fully reimburse any unauthorized transactions made in RBC Royal Bank Online Banking or the RBC Mobile app. International wire transfers are covered by the RBC Digital Banking Security Guarantee. dollar account or the RBC High Interest eSavings account. RBC does not allow you to make an international money transfer from a U.S. You would need to receive a one-time password by text message to a Canadian mobile phone that you can enter to increase your transaction limit. If you complete an authorization process, RBC can raise the daily limit to $10,000 CAD. There is a limit on transfers of $2,500 CAD a day. You must be an RBC customer to use their services, and use either their online banking service or their app. and Canadian dollars into banks in other countries. They can transfer money in most currencies, and in certain circumstances can deposit U.S. Their international wire transfer service lets you send money to around 200 countries around the world, and they have lower fees than many other banks that provide international money transfers. The Royal Bank of Canada provides international money transfer services for customers, either via their online banking service, or through the dedicated RBC smartphone app. ![]() Royal Bank of Canada international money transfer - all you need to know ![]()
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