With RBC’s international payment services, I can send up to $50,000 every day using their Money Transfer tool1. Payments are usually received fast, often within 2 business days1.
Using RBC online banking or the mobile app makes sending money worldwide easy, right from my home1. If there’s a delay, and the funds aren’t received after 6 days, they’ll check into it, but it might cost a fee1.
What’s more, RBC provides 24/7 phone support. They help with any issues or questions about payments whenever I need it1.
Understanding RBC’s International Money Transfer Service
Sending money abroad from Canada is easy with RBC’s International Money Transfer service. Access it through RBC Online Banking or the RBC Mobile app. For sums less than C$50, the transfer is free23. But for more than C$50, fees start at C$17 or an equivalent in USD2.
The cost for sending money differs. For up to C$1000, it’s C$6, and for more, it’s C$1023. Wire transfers begin at C$4523. There might be extra costs, like C$25 for changes, plus other bank fees23.
The exchange rate markup by RBC is 2-4% of the total3. Usually, it’s 4-6% over the mid-market rate. This difference helps the bank when transferring money globally with RBC2.
The table below provides a clear look at RBC’s fees and services for international money transfers:
| Transfer Amount | Fee | Exchange Rate Margin | Additional Fees | Typical Processing Time |
|---|---|---|---|---|
| Under C$50 | No Fee | 4-6% above mid-market rate | N/A | 2-5 business days2 |
| Over C$50 to C$1000 | C$6 to C$17 | 2-4% of transfer3 | Varies (Cancellation, Amendment, IBAN fee, etc.) | 2-5 business days2 |
| Over C$1000 | C$10 to C$45 (Wire transfer) | 2-4% of transfer3 | Varies (Cancellation, Amendment, IBAN fee, etc.) | 2-5 business days2 |
While RBC wire transfer fees and exchange rates might add extra costs, RBC offers ways to save2. Their partner, Wise, lets customers transfer money at the mid-market rate with clear fees. Transfers generally take 2-5 business days. If you need help, RBC has many ways to contact them, providing support for global money transfers2.
Maximizing the Efficiency of Your Global Transactions
In my quest to navigate the world of financial dealings, I’ve found something valuable. To send or receive large sums internationally, the Royal Bank of Canada (RBC) is great. They handle different currencies and can reach almost any place worldwide. This is key because of the various exchange rates, which need careful attention and a reliable bank. To start a wire transfer at an RBC Royal Bank, just gather the recipient’s bank info. Then, head to any RBC branch to finalize your transaction.
RBC stands out among Canadian banks4 for international money transfers. You can send smaller amounts easily using RBC Online Banking or the RBC Mobile app. But first, you must pre-register recipients in online banking for smooth mobile payments. This aligns with the top methods for sending money from Canada abroad. It provides a solid system for efficient worldwide money moves. This service helps new Canadians and long-time clients handle their international finances well.
Modern online and mobile banking features make RBC a reliable choice. You get 24/7 access, strong security, and good customer support4. The RBC mobile app links with your mobile wallet, making things easier. Plus, if you need currency exchange or direct debits, they’ve got you covered. This all adds up to a smooth banking experience. It helps me manage international finances and make the most of currency transfer rates. These are key in today’s global economy.
