Your guide to sending money from Canada to the Philippines with Taptap Send
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Your guide to ordering US dollars at RBC
In this article, we’ll discuss how to order U.S. dollars in cash from the Royal Bank of Canada (RBC), before diving into how Wise can help you convert your money to over 40 currencies at the mid-market exchange rate. Let's get started!
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How to order US dollars in cash at the Royal Bank of Canada
This is how to order US Dollars at RBC:
- Login to RBC Online Banking.1
- Place an order by selecting the amount of cash, the account to debit, and the branch closest to you for pickup.1
- Once the order is processed, RBC will contact customers when cash is ready for pickup at the chosen branch.1
What exchange rate does RBC use for ordering US dollars in cash?
While RBC states “competitive exchange rates” when ordering foreign currency, it’s important to note that they don’t disclose the rate for US dollars upfront.2 You will only find out the exact rate after starting the purchase process, which may make it challenging to assess whether you’re getting the best rate until you commit.
Convert your money on the go at the mid-market rate with Wise
For ultimate control over exchange rates and fees, consider using Wise. Wise’s multi-currency account is free to open and lets you hold over 40 currencies at once. Wise uses the mid-market exchange rate for conversions, an attractive rate banks, and currency exchange services use for their large transactions.
Moreover, Wise’s conversion fees start at 0.48%, keeping more money in your pocket for every exchange. With the Wise card, you can withdraw cash when abroad or make payments in the US, and beyond. The card is free to order, and when using it outside Canada, you’ll benefit from low conversion fees, ensuring you get the best deal when spending or withdrawing.
How to convert money with Wise
After signing up for a Wise account and opening balances in different currencies, you can easily convert money between them. Here’s how:
- From the home screen, choose the currency balance you'd like to convert from.
- Enter the details of the conversion.
- Specify the amount to convert and choose the currency to convert to. Double-check the details and confirm the conversion.
- The funds should be converted within a few seconds.
Wise applies certain conversion limits depending on your account type:
- Personal Customers can convert money up to 15 times in 24 hours.
- Business Customers can convert money up to 75 times in 24 hours.
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How long does it take to get US dollars in cash from RBC?
Receiving US dollars in cash from RBC depends on the branch.1 It typically takes 3 to 10 business days for your foreign currency to arrive, but in most cases, the cash should be ready in 3 business days.1
Does RBC have limits on ordering foreign currency in cash?
RBC imposes daily foreign currency order limits based on your account type:
- personal accounts can order up to 2,500 CAD daily , while
- business customers can order up to 5,000 CAD per day.1
Conclusion
To simplify your travels, get US dollars in cash in advance! RBC allows you to order currency in advance, but without upfront exchange rate details, it may not always be the most cost-effective choice. Wise offers you control over the rates and fees, plus the ability to convert money on the go at the mid-market rate. Ease into your travel with Wise-open your account today!
Sources:
Sourcs verified on 10 March 2025*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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