How to order foreign currency from RBC : Your complete guide

Having some foreign currency on hand before travelling is always a good idea. It helps you manage your spending, while avoiding high fees or expensive rates at destination airports or hotels. It may also give you peace of mind to have cash on hand for emergencies.

In this guide, we’ll take a look at how to order foreign currency from RBC , so you have one less thing to worry about on arrival. We’ll also look at Wise as an online international alternative for converting your money to over 40 currencies at the mid-market exchange rate.

How to order foreign currency at the Royal Bank of Canada

You can order foreign currency at RBC via online banking or the RBC mobile app¹.

Step 1: Log in to your RBC online banking account using your credentials.

Step 2: From the Account Summary page, go to Account Services under Account Management.

Step 3: Select ‘Purchase Foreign Cash’.

Step 4: Enter how much you want to order, the account to debit from, and the branch from which you want to pick it up.

Step 5: RBC will notify you when your foreign cash is ready for collection at your chosen branch.

H3: What exchange rate does RBC use for ordering foreign currency?

RBC states that their foreign exchange rates² are competitive, but the exact rate you’ll receive isn’t disclosed upfront. Instead, the rate is confirmed when you start the online purchase process, making it difficult to compare rates with other providers before placing your order.

Keep in mind that RBC’s rates can fluctuate due to market changes and other factors, but by ordering online, your foreign cash purchase is made at the time you place your online order.

There is no service charge to purchase foreign cash through RBC online banking, but fees such as excess debit transaction charges or credit card cash advance fees may also apply, depending on how you make your purchase.

Convert your money on the go at the mid-market rate with Wise

If you’re seeking an alternative to RBC for foreign currency before you travel, Wise could be a great alternative.

With a Wise multi-currency account, you can convert money at the mid-market exchange rate —without hidden markups.. The mid-market rate is what banks and money transfer services use to trade between themselves and is the rate you’ll often find on Google, meaning you’ll always know you’re getting a fair deal.

The Wise multi-currency account is free to get and charges minimal fees starting at just 0.48%³, making it a cost-effective way to convert money when you’re on the go. Plus, you can order a free Wise card to withdraw cash abroad or make payments in over 40 currencies, wherever you travel.

How to convert money with Wise

Follow these simple steps to convert money between currencies using Wise⁴:

Step 1: Log into your Wise account, go to the home tab and select which balance you’d like to convert from.

Step 2: Click on the convert option to start your currency exchange.

Step 3: Enter the amount you’d like to convert and select your target currency. Make sure you already have a balance in that currency.

Step 4: Review all details, including the exchange rate and fees, before confirming the conversion.

Step 5: Most conversions are processed within seconds and will appear in your account immediately.

Wise provides flexibility when converting money, but there are a few limits to keep in mind.

Personal users can make up to 15 conversions within a 24-hour period, while business users have a higher limit of 75 conversions. For some currencies, like BRL accounts, the maximum amount per conversion is 10,000 BRL, and local taxes may apply.

Additionally, some currencies may have specific sending limits, which you can check on Wise’s currency pages to ensure your transaction stays within the allowable range.

How long does it take to get foreign cash from RBC?

Once you place your order for foreign cash with RBC, it typically takes about three business days⁵ for the money to be ready for pick-up. However, the exact timeline may vary depending on your chosen branch, with some locations requiring up to 10 business days.

RBC will notify you when your cash is ready. You can then drop by the branch, confirm your identity, and collect your foreign currency.

Does RBC have limits on ordering foreign currency?

RBC has some daily limits for ordering foreign cash. Personal banking customers can order up to $2,500 per day, while RBC Business Banking customers have a higher limit of $5,000 per day⁵.

If you need more than these limits, visit an RBC branch for assistance; you may be able to order a higher amount there.

Final thoughts on ordering foreign currency with RBC

When you need money for your next travelling adventure, ordering foreign cash from RBC is a straightforward option for those who already have accounts with the bank.

RBC offers access to over 40 currencies with convenient online and in-branch services, and orders typically take around 3 working days before they are ready for collection. However, although RBC’s exchange rates are competitive, the exact rate isn’t confirmed until you begin the online purchase process, making it tough to compare rates with other providers before placing your order.

For a cost-effective option, Wise offers on-the-go currency conversion at the mid-market exchange rate with minimal fees starting at just 0.48%, giving you control and flexibility when it comes to managing all your travel money needs.

Sources:

1. RBC - Order foreign cash online
2. RBC - FAQ
3. Wise - Fees and pricing
4. Wise - Converting money
5. RBC - Purchasing foreign cash

Sources last verified on 21 February 2025