Royal Bank of Canada (Canada) Wire Transfer

Wire transfer is the fastest mode of receiving money in your Royal Bank of Canada account from abroad. You can receive money into your Royal Bank of Canada account from a foreign country via International wire transfer. The transaction is initiated by the sender through a financial institution, however, you need to provide your banking details to the sender for successful transfer of money.

International Wire Transfer to Royal Bank of Canada

International wire transfer is one of the fastest way to receive money from foreign countries. Banks use SWIFT network for exchanging messages required for performing international wire transfer. Usually, the receiving bank (in Canada) and the sending bank (in other country) need to have a direct arrangement in place to start the swift transfer – this is sometimes referred to as correspondent banking.

Incoming International Wire Transfer Instructions

To receive international wire transfer in your Royal Bank of Canada account, please provide the following wire instructions to the sending financial institution:

Bank Name: Royal Bank of Canada
Bank Address: Your complete bank branch address
and telephone number
SWIFT BIC Code for Royal Bank of Canada: For Royal Bank of Canada, this code is ROYCCAT2
Royal Bank of Canada’s Institution Number: 003
Beneficiary Transit Number: Your five-digit transit number (including all zeros)
Beneficiary Account Number: Your seven-digit account number
Beneficiary Name: Your complete name
Beneficiary Address: Your complete address

If the transfer is in U.S. dollars, you may need to provide the following additional information from Royal Bank of Canada‘s U.S Correspondent Bank:

Correspondent Bank Name: JP Morgan Chase Bank
SWIFT BIC Code: CHASUS33
Fedwire ABA Routing Number: 021000021
CHIPS UID: 055253

Outgoing International Wire Transfer Instructions

To send international wire transfer from your Royal Bank of Canada account, You need to know the following information about the person or company receiving the money:

1. Your complete name and address.
2. Your five-digit transit number (including all zeros) for the Royal Bank.
3. Your seven-digit account number for the Royal Bank.
4. The recipient’s complete name and address.
5. The recipient’s complete bank name, address.
6. The recipient’s SWIFT Business Identifier Code (BIC), if available
7. The recipient’s complete bank account number.
8. The recipient’s branch or transit number and national sort code number where the funds are to be deposited
9. The recipients’s bank branch address and phone number.
10. The recipient’s valid IBAN if sending to a participating country.
11. The recipient’s valid Clave Bancaria Estandarizada (CLABE) or Standardized Bank Code if sending to Mexico.
12. The reason or purpose for the wire payment.

Incoming Wire Transfer Fees for Royal Bank of Canada

International Incoming Wire Transfer Fees for Royal Bank of Canada is as follows:

Payment type Cost
Incoming wire payment from an RBC
Royal Bank unit located in Canada
No charge
Incoming wire payment
from another financial institution
located anywhere worldwide
($50.00 Cdn/U.S. and under)
No Charge
Incoming wire payment
from another financial institution
located anywhere worldwide
(Over $50.00 Cdn/U.S.)
$15.00 Cdn/U.S.

Outgoing Wire Transfer Fees for Royal Bank of Canada

International Outgoing Wire Transfer Fees for Royal Bank of Canada is as follows:

Payment type Cost
Initiated from client instructions
where signing authority of client is present
Starting at $20.00 each
Initiated from client instructions
where signing authority of client
is not present
Starting at $50.00 each
If an International Bank Account Number (IBAN)
is not provided for a wire payment
going to countries that use IBANs
Add $35.00 each

Apart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. We recommend using services like TransferWise for getting best conversion rates with lower wire transfer fees.

Incoming/Outgoing Wire Transfer Cutoff Time for Royal Bank of Canada

1. The Cut-off Time for both Incoming and Outgoing Wire Transfer for Royal Bank of Canada is 4 p.m. ET.
2. Any requests received after cutoff time will normally be processed the next working day.