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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 providers."

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 www.rbcroyalbank.com/sendmoney.

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For more information, please contact:
Linda Sadlowski RBC, 416-974-1754


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03/18/2009 12:59:20