|RBC ROYAL BANK||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to CAD||NO MINIMUM||5/7 DAYS||3.3%||$1.638|
|EUR € - to CAD||NO MINIMUM||5/7 DAYS||3.3%||$1.421|
|CURRENCIES DIRECT||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATES||MORE DETAILS|
|GBP £ - to CAD||FROM £100||FROM 1 DAY||0.7 to 1.0%||$1.677 to $1.684|
|EUR € - to CAD||FROM €100||FROM 1 DAY||0.7 to 1.0%||$1.455 to $1.461|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Save on the exchange rate conversion when sending money abroad from your RBC Royal Bank account in Canadian dollars, UK pounds & euro currencies. RBC Royal Bank international money transfers to or from Canada have higher transaction charges, due to a less competitive exchange rate offered by RBC Royal Bank. Skip to: Canada Money Transfer Specialists
Typically, sending funds to or from your RBC Royal Bank account in Canadian dollars (CAD) or UK pounds will involve a margin rate of 3.3% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Sending foreign currency to or from your RBC Royal Bank account in Canada needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of $100,000 Canadian dollars (CAD) using RBC Royal Bank services would have a transaction exchange rate margin of around 3.3% – or $3,300 CAD. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only S700 CAD in total, which is a large saving over the bank service.
International money transfers from RBC Royal Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing RBC Royal Bank account holder to use their services. RBC Royal Bank may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of $5000.
Unless you pay a premium, RBC Royal Bank’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
RBC Royal Bank was created in 1864 and is major bank in Canada operating as RBC Royal Bank in English and RBC Banque Royale in French. In Canada RBC Royal Bank has over 1,200 local banking branches serving it’s Canadian customers.