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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% |
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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.
For a traveler planning a 1-week mid-range stay in the Czech Republic, a budget of around CZK 25,000 to CZK 30,000 (approximately $1,100 to $1,300) is advisable. This amount covers accommodation, meals, transportation, and some sightseeing expenses. While there are luxurious options available, mid-range travelers will find that the cost of visiting the Czech Republic remains largely affordable. Here’s a brief overview of typical daily expenses in local currency:
Overall, the Czech Republic is considered a cheap to average destination for travelers, especially when compared to the United States and the UK, where visiting can be significantly more costly due to higher prices for meals and accommodations. For example, a meal in the US typically costs double that of a similar dish in Prague, while London is even pricier—making the Czech Republic an appealing choice for budget-conscious travelers.
For expats living in the Czech Republic, the average monthly living costs range from CZK 30,000 to CZK 40,000 (approximately $1,300 to $1,700) depending on lifestyle choices. This budget includes rent, groceries, dining out, and other essentials. It's advisable for expats to set up a local bank account to manage their finances effectively. Card payments are widely accepted; however, it’s wise to keep some cash on hand for smaller establishments and markets.
When considering currency exchange, locals typically find it more cost-effective to exchange money at designated services rather than at airports, which can prove more expensive. Online transfer services like Wise or OFX offer competitive rates and lower fees, making them a smart option for sending and receiving money internationally. By using these services, expats can easily manage their finances while enjoying the perks of living in this beautiful central European country.
View a full list of exchange rates by selecting your Base (from) currency:
