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Royal Bank of Canada CAD to INR Foreign Transfer Rates Today

The best CAD to INR rate is 61.57. We help you save money by comparing Royal Bank of Canada CAD to INR exchange rates to the latest market rate and those offered by leading FX providers.

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Sending money to India can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.

Using your Bank to make international wire transfers to India can be especially expensive – often 5% to 10% worse than using a foreign exchange specialist to send to India bank accounts or pay a Indian rupee invoice.

 

RBC Money Transfers at a glance

RBC, also known as the Royal Bank of Canada, is one of the largest banks in Canada and a leading financial institution globally. The bank offers a wide range of financial products and services to individuals, businesses, and institutions, including personal and commercial banking, investment and wealth management, insurance, and capital markets services.

When you get a quote for your Wire Transfer from RBC on their website or in-app, you can also see the RBC exchange rate, but it can be difficult to then calculate how much markup you are being charged.

While RBC do publish their exchange rates here - Foreign Exchange Currency Converter, they do not reveal the markup on these rates.

Our research shows that on average, RBC markup for foreign exchange rates is somewhere between 3 - 7.5%, depending on the amount you're sending, where you're sending it to and which currency will be received.

While all banks in Canada charge this markup, the extra amount being charged is much higher than it would be with a global money transfer specialist.

Receiving an international wire transfer at RBC

RBC uses different bank codes depending on the currency and location of the sending bank. Here are some of the most common bank codes used for receiving foreign wire transfers:

  1. SWIFT Code: ROYCCAT2: This code is used for receiving wire transfers in Canadian dollars (CAD) from foreign banks.

  2. Transit Number and Institution Number: These codes are used for receiving wire transfers in Canadian dollars (CAD) from banks located within Canada.

  3. ABA Routing Number: 021001088: This code is used for receiving wire transfers in U.S. dollars (USD) from banks located within the United States.

  4. CHIPS UID: 0163: This code is used for receiving wire transfers in U.S. dollars (USD) from foreign banks that are members of the Clearing House Interbank Payments System (CHIPS).

  5. Fedwire ABA Routing Number: 026004093: This code is used for receiving wire transfers in U.S. dollars (USD) from banks located outside of the United States.

It's important to note that specific bank codes may vary depending on the currency and location of the sending bank, and it's recommended to confirm the correct codes with RBC before initiating a wire transfer. Additionally, RBC may charge fees for receiving wire transfers, so it's important to check the current fees and policies before initiating a transaction.

RBC credit card FX fees

RBC offers several credit cards with different foreign transaction fees. Here are some examples:

  1. RBC Avion Visa Infinite Card: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.

  2. RBC Cash Back Preferred World Elite Mastercard: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.

  3. RBC Visa Platinum: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.

It's important to note that credit card terms and conditions can change, so it's always a good idea to check the current fees and policies before applying for or using a credit card for foreign transactions.

If you wish to save on exchange rates and foreign ATM fees then you should consider the Wise multi-currency card.

     

Currency Country Guides

IndiaIndia (INR)CanadaCanada (CAD)
 

How is the cost of living in India?

The cost of living in India is relatively low compared to developed countries. Basic goods and services cost less than 50% of what they cost in developed nations.

How is the expat life in India?

The expat life in India can be very exciting and enriching. There are many things to see and do, and the people are generally very friendly and welcoming. India can be a challenging place to live at times, but it is also very rewarding.

Read more at our India (INR) country guide

   
 

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