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RBC international money transfers review

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

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Claire Horwood

Updated Apr 6, 2021. What changed?

Fact checked

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.

What's in this guide?

How can I send money with RBC?
RBC exchange rates and fees
How long will my RBC money transfer take?
What payment methods does RBC accept?
How much money can I send?
Available currencies
Is RBC safe to use?
How to send your first RBC money transfer
Does RBC have a mobile app for money transfers?
How does RBC compare to other money transfer services?
Frequently asked questions

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 type	Cost
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.

Take a look at RBC’s exchange rates in more detail

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 take Clock 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 type	Amount you can send
RBC money transfer	Up to $2,500 per day or up to $10,000 with special permission from RBC.
RBC wire transfer	No 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 bank-level security measures in place and is very safe to use. It allows you to register for 2-factor authentication to make sure that only you can access your bank account.

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

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.

You’ll need to provide the following information to send an RBC money transfer:
RBC money transfer or wire transfer
- Recipient’s name and address
- Recipient’s bank name, location, account number and transit number.
- Recipient’s international bank account number (IBAN), BIC, or SWIFT code
Money transfer for cash pick-up
- Recipient’s first and last name (as it appears on their government-issued ID).
- Local bank name and address
- Recipient’s country of residence and in some cases their full address.

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).

Verify your identity and show proof that you’re a Canadian resident who is the age of majority in your province.
Register for an account either online or by visiting a branch.
Fill out an application by providing personal details such as your full name, address, phone number and SIN (Social Insurance Number).
Authorize the bank to use this information to check your credit score.
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 Store	3.8 out of 5, based on 32,383 customer ratings
Apple App Store	4.8 out of 5, based on ‎204,855 customer ratings

Best international money transfer apps

How does RBC compare to other money transfer services?

Compare RBC money transfers with other online money transfer options using our comparison tool below:

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
CAD 1	Same day	CAD 0.00	0.797	USD 3,983	XE has fast transfers with no fees and a range of foreign currency tools.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 1.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AMD, AUD, BAM, BBD, BDT, BGN, BHD, BND, BRL, BWP, CAD, CHF, CLP, COP, CRC, CVE, CZK, DJF, DKK, DOP, EUR, FJD, GBP, GEL, GTQ, HKD, HNL, HRK, HUF, IDR, ILS, INR, JMD, JOD, JPY, KES, KRW, KWD, KZT, LKR, LSL, MAD, MKD, MUR, MWK, MXN, MYR, NAD, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SZL, THB, TMT, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, VUV, WST, XCD, XPF, ZAR Go to site Read the full review
USD 150	1 day	CAD 15.00	0.793	USD 3,951	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 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount USD 150.00 Transfer methods Online, Phone, Agent Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, ARS, AUD, AZN, BGN, BHD, BND, BRL, CAD, CHF, CLP, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XAF, XOF, XPF, ZAR Go to site Read the full review
CAD 10	Within an hour	N/A	N/A	N/A	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.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 10.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ARS, BDT, BGN, BOB, BRL, CAD, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, GHS, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, INR, JMD, KES, KMF, KRW, LKR, MAD, MXN, MYR, NIO, NPR, PEN, PHP, PKR, PLN, PYG, RON, RWF, THB, TND, TRY, TZS, UGX, UYU, VND, XAF, XOF, ZAR Go to site Read the full review
CAD 0	Within an hour	CAD 3.99	0.797	USD 3,984	Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply. WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 0.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, LAK, LBP, LKR, LRD, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PHP, PKR, PLN, PYG, QAR, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UAH, UGX, USD, UYU, VND, WST, XAF, XOF, ZAR, ZMW, BYN Go to site Read the full review
USD 10,000	1 - 2 days	N/A	N/A	N/A	Dunbridge Financial offers diverse transfer options to more than 120 countries. Powered by Currencycloud.	Go to site	Compare	Show details	Details Minimum transfer amount USD 10,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat, Email Available currencies AED, AFN, ALL, AMD, ARS, AUD, AZN, BAM, BDT, BGN, BHD, BIF, BMD, BOB, BRL, BWP, BYR, CAD, CHF, CNY, COP, CRC, CZK, DKK, DOP, DZD, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GTQ, HKD, HNL, HRK, HUF, IDR, ILS, INR, IQD, ISK, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, LAK, LBP, LKR, LRD, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MUR, MVR, MXN, MYR, MZN, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, THB, TJS, TND, TRY, TTD, TWD, TZS, UAH, UGX, USD, UYU, VND, VUV, WST, XOF, XPF, YER, ZWD, ZAF Go to site Read the full review
CAD 1	1 - 2 days	CAD 45.00	0.801	USD 3,967	Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.	Go to site	Compare	Show details	Details Minimum transfer amount CAD 1.00 Transfer methods Online Transfer options One off payments Customer service Phone, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, ERN, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review
GBP 5,000	1 - 2 days	-	-		CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.	Go to site	Compare	Show details	Details Minimum transfer amount GBP 5,000.00 Transfer methods Online, Phone, Bank Account to Bank Account, International Money Order Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, ARS, AUD, BGN, BHD, BRL, CAD, CHF, CNY, CZK, DKK, ERN, EUR, GBP, GHS, HKD, HNL, HRK, HUF, ILS, INR, JMD, JOD, JPY, KES, KWD, MAD, MUR, MXN, NGN, NOK, NZD, OMR, PHP, PKR, PLN, QAR, RON, RUB, SAR, SEK, SGD, THB, TND, TRY, TTD, UGX, USD, ZAR Go to site Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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

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Claire Horwood

Claire Horwood is 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, along with 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. She has also worked extensively in the field of "Blended Finance" with the Canadian government. In her spare time, Claire loves rock climbing, travelling and drinking inordinate amounts of coffee.

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RBC international money transfers review

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

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