How to send and receive awire payment or wire transfer

If you need to send or receive money quickly and safely, a wire payment (also called a wire transfer)could be the most reliable option.
When you send or receive a wire payment through RBC®, it must include certain information to satisfy
our internal compliance requirements. This includes regulatory requirements under anti-money
laundering and anti-terrorist financing laws and regulations that are applicable to all Canadian financial
institutions.
This information will also assist us in ensuring that your payment is processed efficiently and accurately.
Where information is missing or incorrect, additional fees may be charged or deducted from theprincipal amount of the wire payment. In some cases, missing or incorrect information may result infunds being sent to an incorrect recipient once the payment has been sent, it cannot be easily recovered.
Today, most wire payments are processed by financial institutions in Canada and globally using a systemmanaged by the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

Sending wire payments
When you ask us to send a wire payment, we will ask you foryour full name, address and account number as well as thefull name, address and account number of the recipient (alsocalled the beneficiary) of the wire payment.
The information you provide will be shared with third parties
to the extent necessary to process the payment. This includes
sharing it with the recipient’s bank, any intermediary financial
institutions involved in processing the payment and, whererequired by law, authorities in Canada, such as the Financial
Transactions and Reports Analysis Centre of Canada(FINTRAC), and other applicable jurisdictions.
If you choose not to include an account number for therecipient, or if either your address or the recipient’s address is
a PO Box, depending on the receiving and intermediary banks’policies, the wire payment could be delayed or rejected. Also,
some banks will not process wire payments if the spelling of
the name you’ve provided does not exactly match the spellingof the name on the recipient’s account. Therefore, it is always
a good idea to confirm this information with the recipient or
their bank before sending the funds.

In some cases, the receiving or intermediary bank may ask usto provide the reason you’re making the wire payment. If weneed to contact you later to get this additional information, it
could result in delays. Therefore, you should provide the reasonor purpose for the wire payment when you initiate it.
Many countries have adopted a standardized accountnumbering system to increase straight through processing(STP) efficiency. One of the most popular systems is theInternational Bank Account Number (IBAN). While thissystem was originally adopted for use within the EuropeanUnion, it is now widely used by countries outside that area,
so you should check if the account has an IBAN before
sending the funds. Additional charges may apply if the wire
payment requires an IBAN and you do not provide us withthat valid number.
There may be restrictions as to which currencies can bereceived and processed. The currency of the wire payment
may be converted and currency conversion fees applied.
You can request that your recipient receive the specificcurrency being sent by including the words “Do Not Convert”;
however, processing banks are under no obligation to follow

2 | How to send and receive a wire payment or wire transferthis request, and the currency may be converted at theirdiscretion.
To send funds, you need to provide the following information
to the Royal Bank of Canada (Royal Bank):§§
Your complete name and address (PO Box is not permitted)§§
Your five-digit transit number (including all zeros) for theRoyal Bank account being used to fund the wire payment*§§
Your seven-digit account number for the Royal Bank accountbeing used to fund the wire payment*§§
The recipient’s complete name and address(PO Box is not permitted)§§
The recipient’s complete bank name, address and SWIFT
Business Identifier Code (BIC), if available§§
The recipient’s complete bank account number, along with
their branch or transit number and national sort code number
where the funds are to be deposited, and that branch’s phonenumber§§
The recipient’s valid IBAN if you are sending the transfer to aparticipating country§§
The recipient’s valid Clave Bancaria Estandarizada (CLABE)
or Standardized Bank Code if sending to Mexico§§
The reason or purpose for the wire payment
Receiving wire payments
When a wire payment is received for you, we will need thepayment instructions to contain your full name, address andaccount number as well as the full name, address and accountnumber of the sender of the wire payment.
The information provided by the sender will be used to theextent necessary to process the payment. This includes use
by Royal Bank, the sender’s bank, any intermediary financial
institutions involved in processing the payment and, whererequired by law, authorities in Canada, such as FINTRAC, andin other applicable jurisdictions.
If your sender chooses not to include an account number
for you, or if either your address or the sender’s address is aPO Box, depending on the sending and intermediary banks’policies, the wire payment could be delayed or rejected.
In addition, if your payment directly or indirectly originatedfrom a certain country that is high risk, the payment could
be delayed or rejected and additional action may be taken
depending on the circumstances. You may be contacted toprovide further information in respect of the payment.

* When the Royal Bank transit number and account number are combined as one
number, the transit always represents the first five digits.

There may be restrictions on which currencies can be sent
and processed. The currency of the wire payment may beconverted and currency conversion fees applied. If you want
to receive the specific currency being sent, your sender canmake this request by including the words “Do Not Convert”;
however, processing banks are under no obligation to follow
this request, and the currency may be converted at theirdiscretion.
To receive funds, you need to provide the following
information to the sender:§§Your complete name and address (PO Box is not permitted)§§Your twelve-digit account number, which is your five-digittransit number (including all zeros) plus your seven-digit
account number for the Royal Bank account being used
to receive the wire payment*– for example, if the transit
number is 00002 and the account number is 1234567, yourtwelve-digit account number is 000021234567§§Your bank name as “Royal Bank of Canada”§§Your complete bank branch address and telephone number§§
The Royal Bank of Canada SWIFT BIC, which is “ROYCCAT2”
Wire payments sent from some countries to Canada canbe processed more efficiently when a properly formatted
Canadian sort code is included. The nine-digit Canadian sortcode can be determined by combining the standard Canadianrouting code, the financial institution number and the transit
number where the receiving account is held. It’s important toconfirm what your correct transit number is because transits
or branches can sometimes be merged or closed, which cancause confusion.
For example, if your five-digit Royal Bank transit number is“01234,” the correct nine-digit Royal Bank sort code is“//CC000301234,” based on the following:§§The common Canadian routing code is “//CC”§§The Royal Bank four-digit Financial Institution number is“0003”§§
Your unique Royal Bank five-digit transit number where thefunds will be received is “01234”
Wire payments sent in U.S. dollars (USD) from the U.S. are paid
through JP Morgan Chase Bank, New York, NY, USA and require
the following additional information:§§JP Morgan Chase Bank SWIFT BIC – CHASUS33

For more information about FINTRAC and the regulatory requirements,visit fintrac.gc.ca or call 1-866-346-8722.
For more information about the RBC Royal Bank® PrivacyPolicy,
visit rbc.com/privacy.

These materials are provided by Royal Bank of Canada for general information purposes only.
® / ™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada. © 2020 Royal Bank of Canada.
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