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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. The recipient’s branch or transit number and national sort code number where the funds are to be deposited 9. International Incoming Wire Transfer Fees for Royal Bank of Canada is as follows: 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. Any requests received after cutoff time will normally be processed the next working day. International wire transfer is one of the fastest way to receive money from foreign countries. The recipient’s SWIFT Business Identifier Code (BIC), if available 7. The recipients’s bank branch address and phone number. The recipient’s valid IBAN if sending to a participating country. The recipient’s valid Clave Bancaria Estandarizada (CLABE) or Standardized Bank Code if sending to Mexico. We recommend using services like Transfer Wise for getting best conversion rates with lower wire transfer fees. The Cut-off Time for both Incoming and Outgoing Wire Transfer for Royal Bank of Canada is 4 p.m. 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. To receive international wire transfer in your Royal Bank of Canada account, please provide the following wire instructions to the sending financial institution: Note of Caution on Fees: If your money transfer involves currency conversion, there is a high chance you will get a poor exchange rate from the banks and as a result pay high hidden fees. We recommend services like Transfer Wise for getting best conversion rates and lower wire transfer fees. Your five-digit transit number (including all zeros) for the Royal Bank. Your seven-digit account number for the Royal Bank. 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. If you need to send or receive money in Canada you will need to know the Canadian SWIFT codes (also known as the BIC code) of the bank and specific branch. The SWIFT code consists of 8 or 11 characters: If you want to know more about the SWIFT, BIC, IBAN, Routing Number and Sort Codes, be sure to read this article. And if you want to know how to save money next time you need to send money to/from Canada, I encourage you to read this Canada Money Transfer Guide. Bic royccat2 rbc queensway Swift Code / BIC Bank Identifier Code ROYCCAT2 Swift Code for primary office is generally formatted as 8 characters. The SWIFT BIC Code ROYCCAT2 is a unique code which consists of letters, numbers and identifies of Canada, Head Office Toronto branch, Royal Bank of Canada. SWIFT BIC Code of Royal Bank of Canada is provided by World Bank. Society for Worldwide Interbank Financial Telecommunication(SWIFT) has defined standard format of Business Identifier Codes which is called as SWIFT code or BIC Code. It acts as a unique identification code for both financial and non-financial institutions. Swift code is used while transferring money between banks, particularly for international wire transfers, and also for the exchange of other messages between banks. SWIFT handles the registration of SWIFT codes across the world. SWIFT code (also known as ISO 9362, SWIFT-BIC, BIC code, SWIFT ID or SWIFT code) is a standard format of Business Identifier Codes approved by the International Organization for Standardization (ISO). It is a unique identification code for both financial and non-financial institutions.

For this reason, Business Identifier Codes (BICs) are often called SWIFT addresses or codes. SWIFT Standards, a division of The Society for Worldwide Interbank Financial Telecommunication (SWIFT), handles the registration of these codes. Where an 8-digit code is given, it may be assumed that it refers to the primary office. SCRL is headquartered at Avenue Adele 1, B-1310 La Hulpe, Belgium. 2 letters: ISO 3166-1 alpha-2 country code 2 letters or digits: location code 3 letters or digits: branch code, optional ('XXX' for primary office). SWIFT Code Description from Wikipedia The SWIFT code is 8 or 11 characters, made up of: 4 letters: Institution Code or bank code. Please visit the SWIFT website for official information on SWIFT codes. We are focused on money transfer related information. SCRL in any manner and we are not the official source of SWIFT codes. A SWIFT code is an 8 or 11 alphanumeric characters code which is also called BIC Code (Bank Identification Code) and is used to identify banks uniquely throughout the world. A SWIFT code is generally used in facilitating international wire transfers. The swift code for ROYAL BANK OF CANADA (HEAD OFFICE) is ROYCCAT2XXX. The first 4 characters ROYC signify the bank code for ROYAL BANK OF CANADA. Next 2 characters T2 indicate location of the bank and the last 3 characters (optional) XXX is branch code for the (HEAD OFFICE) branch. International wire transfer usually involve a fees at both sending and receiving end - which is okay. However, if currency conversion is involved in the transfer you may end up paying a very hefty fees due to poor currency conversion rate provided by banks - this fee may be as large as 3-5% of the total transfer amount. We recommend using service like transferwise for best conversion rates and lower wire transfer fees. Bic royccat2 dave mckay rbc If it is equal to "2", then it typically denotes a “reverse billing” BIC, meaning that the recipient of the message has to pay for the message. Section 4 9th to 11th characters “DDD” These final three characters form a “branch code” that refers to the particular branch of the institution. If this section is omitted, then we have an 8-character swift code that is assumed to refer to the HEAD OFFICE of the institution. ROYAL BANK OF CANADA TORONTO SWIFT Code. ROYAL BANK OF CANADA, TORONTO SWIFT Code Information. SWIFT Code / BIC. Save on international fees by using TransferWise, which is 5x cheaper than banks. Get paid at the real exchange rate by using TransferWise. Bank / Institution. ROYAL BANK OF CANADA. PAYMENT CENTRE - TORONTO, 180 WELLINGTON STREET WEST. Swift Code / BIC Bank Identifier Code ROYCCAT2 Swift Code for primary office is generally formatted as 8 characters. SWIFT Codes and BIC codes are part of the ISO 9362 standards for sending money internationally. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication, while BIC is short for Bank Identifier Code. SWIFT and BIC codes are used all over the world to identify bank branches when you make international payments, ensuring your money gets to the right place. To find a SWIFT code, begin by selecting your country below. A SWIFT Code is a standard format of Bank Identifier Code (BIC) used to specify a particular bank or branch. These codes are used when transferring money between banks, particularly for international wire transfers. SCRL with a registered address at Avenue Adèle 1, B-1310 La Hulpe, Belgium. Banks also use these codes for exchanging messages between them. All 11 digit codes refer to specific branches, while 8 digit codes (or those ending in 'XXX') refer to the head or primary office. Certain parts of the world - particularly Europe, the Middle East & many Caribbean countries - have adopted the International Bank Account Number (IBAN) system for international money transfers. SWIFT codes are formatted as follows: The downside of international transfers with your bank When you send or receive money using your bank, you might lose out on a bad exchange rate and pay hidden fees as a result. IBANs identify specific bank accounts rather than bank branches. That’s because the banks still use an old system to exchange money. Remember to use IBAN if you are transferring funds to an account in one of the participating countries. In order to avoid mistakes, it is wise to validate your IBAN prior making an international money transfer. We recommend you use Transfer Wise, which is usually The registrations of Swift Codes are handled by Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) and their headquarters is located in La Hulpe, Belgium. It is possible to calculate IBAN from an existing bank account number by using an online IBAN Calculator. The necessary information can vary, but normally an account number, bank code and branch codes are required. Some countries also implement domestic bank code or clearing system to transfer money within their own borders. Examples are Routing Number in United States (“USA”), Routing Number or Transit Number in Canada, Sort Codes in United Kingdom (“UK”), National Sort Codes (NSC) in Ireland, Bankleitzahl (“BLZ Codes”) in Germany, Bankenclearing-Nummer (“BC“) & SIX Interbank Clearing Codes (“SIC”) in Switzerland, Code Banque & Code Guichet In France, Codice ABI (“ABI“) & Codice di Avviamento Bancario (“CAB Code“) in Italy, Bank State Branch (BSB number) in Australia, Bank State Branch (BSB number) in New Zealand and Indian Financial System Code (“IFSC Code“) in India.