![]() ![]() 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. ![]()
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