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Understanding the Table:
The comparison table above helps you see the total cost of your Royal Bank of Canada currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
The table below shows Royal Bank of Canada Canadian dollar (CAD) Buy Cash exchange rates with the percentage of margin being charged from the current market mid-rate :
| Currency route | Mid market rate | Royal Bank of Canada Buy Cash Rate | Cost% |
|---|
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:
SWIFT Code: ROYCCAT2: This code is used for receiving wire transfers in Canadian dollars (CAD) from foreign banks.
Transit Number and Institution Number: These codes are used for receiving wire transfers in Canadian dollars (CAD) from banks located within Canada.
ABA Routing Number: 021001088: This code is used for receiving wire transfers in U.S. dollars (USD) from banks located within the United States.
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).
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 offers several credit cards with different foreign transaction fees. Here are some examples:
RBC Avion Visa Infinite Card: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.
RBC Cash Back Preferred World Elite Mastercard: This card charges a foreign transaction fee of 2.5% of each transaction in Canadian dollars.
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.
How much does it really cost to live, work, or travel in ? Here's what to expect for daily expenses and expat living.
When planning a one-week mid-range stay in Chile, a traveler should budget approximately CLP 500,000 to CLP 700,000 ($600–$850 USD) for a comfortable experience. Daily expenses can vary, but here's a glimpse of what you might expect: a meal at a local restaurant may cost around CLP 8,000–CLP 15,000 ($10–$18), a coffee typically ranges from CLP 1,500–CLP 3,000 ($2–$4), while public transport fares hover around CLP 700 ($0.85). For a prepaid SIM card, expect to pay about CLP 15,000 ($18), and budget accommodations like a budget hotel or Airbnb can range from CLP 25,000–CLP 60,000 ($30–$75) per night. Overall, visiting Chile is considered average in terms of costs. When compared to the United States, travelers will find Chile is generally cheaper for dining and public transport, but slightly more costly for accommodations. In comparison to the UK, where eating out can be pricier, Chile offers good value for similar quality of food and experience.
For expats considering a move to Chile, typical monthly living costs can range from CLP 700,000 to CLP 1,200,000 ($850–$1,450), depending on lifestyle and location. Ensure you are familiar with the local banking system; major cities like Santiago have a wide array of bank options, but many expats prefer to use credit or debit cards due to lower fees and convenience. When sending or receiving money, services like Wise or OFX can be smart alternatives compared to traditional banks, as they typically offer lower exchange rates and fees. While exchanging money locally can work for small amounts, for larger transactions, online transfer services often yield better rates, making it a savvy financial choice for expats living in Chile.
View a full list of exchange rates by selecting your Base (from) currency:
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