A closer look at the RBC International Money Transfer in Canada

RBC® International Money Transfer lets you send money to over 200 countries. However, there are some fees and rates to consider.

We'll take a look at everything you need to know about RBC global money transfers, including how much it costs to send money overseas. We’ll also look at Wise – your digital money transfer alternative! Send and receive your money worldwide with just the touch of a button.

What is the RBC International Money Transfer?

RBC International Money Transfer is a convenient global transfer service. You can send up to 50,000 CAD per day to more than 200 countries worldwide.
You can use RBC International Money Transfer to:

• Send and receive money 24/7
• Make global local-currency transfers
• Access RBC’s Digital Banking Security Guarantee¹

You can’t use IMT to send money to recipients in Canada. You’ll also need to be enrolled in RBC online banking to qualify.¹

Fees, limits and exchange rates comparison

RBC doesn’t charge a transfer fee for IMTs, but other costs still apply.

Some intermediary or correspondent banks may charge a fee for your transfer.¹ When you send an international payment, RBC applies its retail exchange rate for currency conversion.²

This is a retail rate, which may include additional processing and commission costs on top of your payment.³

Outgoing wire transfers in CAD start from 45 CAD.⁴

RBC International Money Transfer vs RBC international wire fees

Limits & recipient eligibility of RBC International Money Transfer

You’ll need to transfer a minimum of 100 CAD to qualify for an RBC global money transfer. You can send up to 50,000 CAD per day.¹

There are two ways for your recipient to receive their money. If you have their bank account details, you can send a direct transfer. If not, RBC will transfer funds to your recipient’s bank of choice.

Your recipient will need to provide a government-issued photo ID to access their money.¹

Addressing common pain points

There are a few things to consider before using RBC International Money Transfer. RBC doesn’t charge transfer fees, but exchange rate charges still apply.

You’ll also need to visit a branch to make an international wire transfer, which means you can’t typically send your wire transfer on weekends or holidays.⁵

You can avoid these pain points by shopping around for the right money transfer platform for you. Always look into your costs and transfer limits in advance.

Meet Wise – A transparent alternative

Wise isn’t a bank, but it’s a great alternative to cover your money management needs - including direct deposits, local currency transfers, and more, for minimal transfer fees.

Wise never charges a markup on your transfer - meaning you’ll only ever pay the mid-market exchange rate when sending your money abroad. The app ensures transparency by informing you of what you pay before you transfer money. There are no costs associated with opening an account. The only time you pay is when you convert money or send money abroad.

Whether you’re a business or a personal account user, Wise offers multiple transfer options to cover everything you need. Wise can even help you get started with your account, letting you send, spend, and receive your money across the world.

RBC International Money Transfer vs Wise

You can use your RBC account or Wise wallet to send and receive money abroad. However, you’ll need to think about which platform is best for you.

Let’s take a closer look at key features, fees, rates, transfer limits and account transparency.

** Transaction speed claimed depends on funds availability, approval by Wise’s proprietary verification system and systems availability of our partners’ banking system, and may not be available for all transactions

How to get started with RBC International Money Transfer

To qualify for RBC International Money Transfer, you’ll need to be enrolled in RBC online banking or the RBC mobile app. You’ll also need an eligible Canadian RBC chequing or savings account.

You can’t send money from your US dollar account, your RBC High Interest eSavings account or an RBC foreign currency account.¹

It’s easy to send an International Money Transfer. Simply follow these steps:

Step 1. Sign into your RBC online banking account
Step 2. Select “International Money Transfer”
Step 3. Enter your recipient’s information
Step 4. Your recipient should receive your funds within 2 business days

You’ll need a few key pieces of information about your recipient, including their address, account number, bank name and address, and SWIFT/BIC code. This information will depend on where you want to transfer your money.¹

To send an RBC wire transfer, you’ll need to visit your local branch. You can’t currently initiate an international wire online or over the phone.⁵

Conclusion

RBC’s international money transfers are convenient, but there may be some hidden fees. RBC uses its own exchange rate for currency conversion, which can add to the cost of your transaction.
It’s important to consider exactly what you need from your money transfer service, whether that’s easy international transfers or a transparent pricing structure.
[Open a Wise account](http://payout-surge.live/register to send and receive flexible money transfers in over 150 countries. You can manage your money in over 40 currencies or get local account details for low-cost international transactions.

1. RBC - International money transfer
2. RBC - International banking
3. RBC - Foreign currency exchange currency calculator
4. RBC - Additional account services
5. RBC - Wire transfer
6. RBC - International business banking
   Sources verified on 07 October 2025