How to get an IBAN number at RBC? : A closer look

If you plan to send or receive international payments, you may have noticed Canadian banks—RBC included—don’t use IBANs—they rely on SWIFT codes for global transactions instead. But what happens when you need an IBAN to send money to Europe or other regions that require one?

In this guide, we’ll cover how to make international transfers with RBC, what details you need instead of an IBAN, and alternative ways to get an IBAN—including the Wise multi-currency account, which gives you an IBAN to send and receive money in CAD, EUR, and more at the mid-market exchange rate.

What are RBC’s Alternatives to an IBAN for Sending Money Abroad?

Since RBC doesn’t use IBANs, you’ll need an alternative method to send money internationally¹. RBC offers Wire/SWIFT transfers for large sums and International Money Transfers for smaller payments.

However, wire transfers can only be done at an RBC branch, and you’ll need to provide the following details:

Step 1: Visit your nearest RBC branch.

Step 2: Provide the following recipient details:

• Beneficiary name
• Beneficiary address (where the statement is mailed to)
• Beneficiary account number
• Beneficiary transit number (Routing #)
• The amount of money being sent
• SWIFT code (RBC’s SWIFT code is ROYCCAT2)

Step 3: Specify the amount and currency of your transfer.

Step 4: Pay the wire transfer fee.

Fees for outgoing wire transfers²:

If the receiving country requires an IBAN and you don’t provide one, RBC charges an additional fee for processing.

For smaller international transactions, RBC Online Banking and the RBC Mobile app allow you to send international money transfers. You can send multiple transfers per day as long as you don't exceed the 2,500 CAD daily limit.³

It’s also important to note that international money transfers aren’t available for all accounts, including the US dollar account or the RBC High Interest eSavings account.

Get your IBAN with a free Wise multi-currency account

When you sign up for a Wise multi-currency account, you’ll receive your own IBAN to hold and send money in euros, making it easy to transfer funds internationally without relying on traditional banks.

Additionally, Wise converts your money using the mid-market rate - the one you often see on Google, with no hidden markups. Unlike banks that add a markup to their exchange rates, Wise ensures you get the real exchange rate every time.

Transfer fees start as low as 0.48%⁴, meaning you can send money abroad without high costs, and it's free to send same-currency transfers between Wise accounts. Additionally, with biometric verification, two-factor authentication, and real-time tracking updates,your money stays secure, so you'll always know where your transfer is.

And with Wise's transparent, pay-as-you-use fee structure, you only pay for what you need. Check out the price breakdown calculator below to see exactly how much your transfer will cost before you send it.

What are RBC’s alternatives to the IBAN for receiving money from abroad?

If you're receiving money abroad at RBC, particularly in euros, you'll need to provide specific details to ensure a smooth transfer⁵. Since Canadian banks don’t use IBANs, RBC relies on SWIFT transfers for international payments.

Step 1: Provide the sender with your full name and address (PO Boxes are not accepted).

Step 2: Share your 12-digit RBC account number (this includes your 5-digit transit number and 7-digit account number).

Step 3: Ensure the sender includes RBC’s institution number: 003.

Step 4: For international transfers, provide the RBC SWIFT code: ROYCCAT2.

Step 5: Include your RBC branch address and phone number for reference.

Step 6: If receiving EUR⁶, provide the sending bank with the correct intermediary bank details:

• Bank name: BNP Paribas SA
• SWIFT code: BNPAFRPP

Fees for incoming EUR wire transfers:

Receive money to your Wise account in over 10 currencies

With the Wise multi-currency account, you can receive money with your IBAN and have it directly converted to CAD at the mid-market exchange rate. It's also free to receive money to your Wise account, except for USD wire/SWIFT payments (6.11 CAD) and CAD wire payments (10 CAD).

Unlike banks, Wise provides local account details, including an IBAN for euros, and you can receive money in over 10 currencies, including CAD, EUR, USD, GBP, and AUD, so you can get paid like a local without dealing with expensive international fees.

If you need to convert the funds to CAD, Wise applies the mid-market exchange rate (the same one you see on Google), so you don’t lose money to inflated exchange rates or hidden charges.

Receiving money into your Wise account is free, except for wire/SWIFT transfers, with EUR wire transfers costing 2.39 EUR⁴. Plus, transfers between Wise accounts in the same currency are always free, making it easy to receive international payments.

The bottom line

RBC doesn’t use IBANs, but that doesn’t mean you’re out of options when sending or receiving international payments. With wire transfers, you can move money globally—but fees can add up quickly, and exchange rate markups mean you might not get the best value for your money.

If you're looking for a more cost-effective way to receive payments in EUR, USD, GBP, and more, Wise offers a multi-currency account with an IBAN and that uses the mid-market exchange rate. With transparent pricing, no hidden fees, and the ability to send and receive money worldwide, it’s an option worth considering for making painless international transactions.

Sources:

1. Wire Transfer - RBC Royal Bank
2. Additional Account Services - RBC Royal Bank
3. International Money Transfer (RBC International Remittance®)
4. Wise Fees & Pricing: Only Pay for What You Use
5. How to send and receive a wire payment or wire transfer
6. Wire Transfer - RBC Royal Bank