RBC offers easier more accessible solution to send money
to family and friends back home
RBC International Remittance® makes sending funds overseas
economical, safe and easy through RBC Online Banking
TORONTO, March 18, 2009 — RBC today announced
a new remittance service that will give thousands of Canadians
- including new immigrants - an economical and secure solution
for sending money back home to family and friends. RBC International
Remittance enables individuals to send the equivalent of up
to $1,000 CAD each day for only $13.50 per transaction.
"The new immigrant market is a priority for RBC and
being able to send money home to family and friends is an
important service for people coming to Canada, whether they've
just arrived or have already established themselves here,"
said Andrea Metrick, head, Client Strategy and Multicultural
Markets. "With RBC International Remittance, people can
send funds 24/7, when it's convenient for them, wherever they
have internet access and for a fraction of the cost they might
pay for sending money through wires or through other remittance
Like any other money transfer or bill payment, clients can
access this new service through RBC Online Banking from their
Account Balances, Account Details or Pay Bill and Transfer
Funds pages. Remittances can be sent from the client's personal
banking account in various currencies directly to the recipient's
bank account or picked up at a specified foreign bank. RBC
has correspondent banking relationships with over 1,400 banks
in over 120 countries around the world.
"We are pleased to add RBC International Remittance
to our suite of electronic payment services," said Tracy
Scott, senior manager, Payment Services. "It's convenient
for individuals who send money overseas for weddings, birthdays
and special holidays, and to offer financial support to love
ones back home. It's also ideal for one-time needs such as
emergencies and vacation plans."
In addition to RBC International Remittance which enables
individuals to send funds overseas, RBC Online Banking personal
banking clients can also transfer funds electronically to
other RBC clients, to clients of other financial institutions,
and between RBC accounts in Canada and the U.S.
"We are seeing consistent growth in the use of all our
electronic payment services, which shows that clients are
taking advantage of the ease and convenience of sending funds
and making payments online," added Ms. Scott.
For information on RBC International Remittance, please visit
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For more information, please contact:
Linda Sadlowski RBC, 416-974-1754