Compare Royal Bank of Canada USD to PKR transfer rates

Compare Royal Bank of Canada Exchange Rates & Fees - Save Time & Money

The live mid-rate USD to PKR exchange rate is 282.33.

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:

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 credit card FX fees

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.

What is the best Send Money conversion rate for USD to PKR?

The best USD to PKR exchange rate is 278.68 from Wise. This is -1.3% compared to the mid-market rate 282.33.

As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to Pakistani rupee (PKR) rates from different sources before making a conversion.

The above Royal Bank of Canada - Dollar to Pakistani rupee comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Royal Bank of Canada and other foreign exchange providers against the latest USD-PKR mid-rate and the possible savings of using various providers.

How do Royal Bank of Canada USD-PKR rates compare between providers?

Looking at the full USD to PKR - Send Money comparison table the provider with the best USD to PKR exchange rate is Wise at 278.68, -1.3% from the latest mid-market rate 282.33.

The next best is Western Union at 277.81, -1.6% from the mid-rate.

Then WorldRemit at 275.56, which is -2.4% from the mid-rate.

Among the banks the Chase Bank rate is 256.28 at -9.2% the Wells Fargo Bank rate is 254.59 at -9.8% and the Citibank rate is 267.58 at -5.2% compared to the mid-rate 282.33.

It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like Royal Bank of Canada often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.

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