In an increasingly globalized world, fast and secure international money transfers are essential. For individuals and businesses alike, accurate SWIFT/BIC codes are critical not only for successful transactions but also for minimizing transfer fees. The Royal Bank of Canada (RBC) provides clear SWIFT/BIC code information to facilitate seamless cross-border payments.
What Is a SWIFT/BIC Code?
A SWIFT/BIC code is a unique 8- to 11-character identifier that specifies a bank and its branch. The code typically includes:
- Bank code (ROYC) : Identifies the Royal Bank of Canada.
- Country code (CA) : Indicates Canada as the bank’s location.
- Location code (T2) : Refers to the bank’s headquarters.
- Branch code (CLS) : Specifies a particular branch. A terminal "XXX" denotes the bank’s primary office.
RBC’s SWIFT/BIC Code Details
The Royal Bank of Canada’s SWIFT/BIC codes are as follows:
- 8-character SWIFT code : ROYCCAT2
- 11-character full SWIFT/BIC code : ROYCCAT2CLS
- Bank name : Royal Bank of Canada
- City : Toronto
Transparency and Efficiency in International Transfers
Before processing an international transfer, RBC discloses all associated fees, ensuring customers are fully informed. This transparency helps clients optimize costs while benefiting from same-day processing in most cases, enhancing cash flow efficiency.