Finder makes money from featured partners, but editorial opinions are our own.

RBC international money transfers review

Pay a flat fee to send money overseas with bank-to-bank transfer and cash pick-up options.

This product is not currently available via Finder. Visit the provider's website directly, or compare other options.
  • Great if you’re already an RBC customer and you want to pay a flat fee for international transfers.
  • Not so great if you need to send over $2,500 per day or you want your transfer to process instantly.

Why should I consider RBC for my money transfer?

  • Stable fee structure. You’ll pay a flat fee to transfer money which won’t vary based on the amount you send.
  • Cash pick-up may be available. You can send a transfer for cash pick-up at your recipient’s bank branch if it has an institutional relationship with RBC.
  • Easy mobile transfers. You can use RBC’s mobile app to send both RBC bank-to-bank or cash pick-up transfers.
  • High transfer amounts. You can transfer up to $2,500 per day – or up to $10,000 if you’ve received special permission from RBC.

What to be aware of

  • Poor exchange rates. RBC adds a larger margin to the exchange rate than specialist money transfer services.
  • Limited to account holders. You can only transfer money with RBC if you sign up for a bank account.
  • Long processing times. It takes between 2 and 5 days for RBC money transfers to process and there is no same-day cash pick-up option.

How can I send money with RBC?

You can send money directly to your recipient using an RBC online money transfer or a wire transfer.

  • RBC money transfer. RBC money transfers let you send money to your recipient’s bank or for cash pick-up at one of thousands of overseas bank branches. Transfers are sent using RBC’s mobile or online banking app, and take between 2 and 5 business days to process.
  • Wire transfers. Wire transfers are bank-to-bank transfers that must be sent from an RBC branch. You can send an unlimited amount of money with an RBC wire transfer but you’ll pay a higher fee to compensate.

RBC exchange rates and fees

RBC charges different fees based on how you send money.

Transfer typeCost
RBC money transfer
(Only available for international transfers. Clients can use Interac e-Transfers to send funds within Canada.)
  • Transfers of $1,000 or less: $6
  • Transfers over $1,000: $10
Wire transfer
  • Within Canada: $45
  • To the US: $45 (plus any surcharges charged by intermediary banks)
  • To other countries: $45 + $35 IBAN fee

There will also be a margin of around 2-5% added to the exchange rate so you should factor in the extra expense before sending your transfer.

How long will my RBC money transfer take?

RBC money transfers take between 2 and 5 business days to process. This is the case for both bank-to-bank and cash pick-up transfers.

Tips for avoiding transfer delays:

  • Transfer money at set times. Try to send money in the mornings or on weekdays to avoid delays with your transfer.
  • Send smaller amounts. Split larger amounts into multiple small transactions to make sure your transfer doesn’t get held up in transit.
  • Transfer between popular currencies. Send mainstream currencies instead of exotic currencies wherever possible to speed up your transfer time.

Transfers typically takeClock icon for transfer speed

2-5 business days

What payment methods does RBC accept?

You can only pay for RBC money transfers using your bank account. It’s not possible to pay for your transfer in cash unless you go into an RBC branch and deposit money.

How much money can I send?

Transfer typeAmount you can send
RBC money transferUp to $2,500 per day or up to $10,000 with special permission from RBC.
RBC wire transferNo specified maximum

Available currencies

You can access the following popular currencies plus many more with RBC money transfers:

  • USD US Dollar
  • GBP British pound
  • AUD Australian dollar
  • EUR Euro
  • JPY Japanese yen
  • CNY Chinese yuan
  • PHP Philippine peso
  • INR Indian rupee
  • MXN Mexican peso
  • NZD New Zealand dollar
  • LBP Lebanese pound

Is RBC safe to use?

RBC has industry standard security measures in place. It is one of the “Big 5” banks in Canada alongside TD Canada Trust, CIBC, BMO and Scotiabank. Customers can register for 2-factor authentication, which requires them to pass 2 levels of authentication before accessing their bank accounts.

It also encrypts customers’ personal and financial information, and offers its RBC Digital Banking Security Guarantee to reimburse any fraudulent or unauthorized transactions made using RBC mobile or online banking.

  • Security and regulation. Government-regulated, enables 2-factor authentication and other industry-standard security measures.
  • Established. 1864.
  • Number of customers. 17+ million

*According to RBC on 06 April 2021

Where is RBC regulated?

RBC is a member of the Investment Industry Regulatory Organization of Canada (IIROC) as well as the Canadian Investor Protection Fund (CIPF).

How to send your first RBC money transfer

You need to have a bank account with RBC in order to transfer money overseas.

  • RBC money transfer. You can send an RBC money transfer using your mobile or online banking. You’ll just need to specify whether you want to send a bank-to-bank transfer or a cash transfer for your recipient to pick up at a bank in their own country.
  • Wire transfer. You can send a wire transfer in-person at an RBC branch location. You’ll need to supply the same information as you would for an RBC money transfer.

How to become an RBC client

You’ll need to have an RBC chequing or savings account to send money with RBC. You can sign up for an account by following these steps:
Fill out an application by providing personal details such as your full name, address, phone number and SIN (Social Insurance Number).

  1. Verify your identity and show proof that you’re a Canadian resident who is the age of majority in your province.
  2. Register for an account either online or by visiting a branch.
  3. Fill out an application by providing personal details such as your full name, address, phone number and SIN (Social Insurance Number).
  4. Authorize the bank to use this information to check your credit score.
  5. Register for RBC’s mobile app or visit a branch in person to send a money transfer.

Does RBC have a mobile app for money transfers?

RBC mobile app screenshot

RBC has a mobile app to help you manage your banking on the go. You can use this app to send both bank-to-bank and cash pick-up transfers. You can also track your transfer history.

The RBC app can also be used for a range of everyday banking needs such as bill payments, transfers between accounts, Interac e-Transfers, viewing your RBC account balances, mobile cheques deposit, Auto-Pay and more.

To use the RBC mobile app, you need to open an RBC account.

These ratings are accurate as of 06 April 2021.

Google Play Store3.8 out of 5, based on 32,383 customer ratings
Apple App Store4.8 out of 5, based on ‎204,855 customer ratings

Best international money transfer apps

How does RBC compare to other money transfer services?

Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
Name Product Offer Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Wise (TransferWise)
24 hours
From 0.43%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Xe Money Transfers
Within minutes
Xe has fast transfers with low fees and a range of foreign currency tools.
Within minutes
From $0
Use code HELLO to get $20 off on first two transfers on a min transfer of $250. Valid until November 30, 2023.
Instarem offers zero transfer fees on all transfers.
Within minutes
From $0
Send money in CAD to Africa on this blockchain and P2P powered provider.
Finder Award
Within minutes
From $0
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Finder Award
Within minutes
From $4.99
For a limited time, get $0 fees on your first money transfer from Canada. Conditions apply.
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Xe Money Transfers
Within minutes
Xe has fast transfers with low fees and a range of foreign currency tools.
Finder Award
24 hours
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.

Bottom line

RBC lets you send bank-to-bank and cash pick-up transfers for a flat fee. You’ll need to have an RBC account to send money and transfers typically process in 2 to 5 business days. Find out more about RBC money transfers and learn how this service stacks up against the competition by comparing money transfer providers.

Frequently asked questions

Claire Horwood's headshot
Written by

Associate editor

Claire Horwood was a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, and an Associate’s Degree in Science from Camosun College. Much of Claire’s coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. In her spare time, Claire enjoys rock climbing, travelling and drinking inordinate amounts of coffee. See full bio

More guides on Finder

Go to site