Royal Bank of Canada Swift Codes – ROYCCAT – BIC Code

Royal Bank of Canada Swift Codes is the way that helps you with the national and international transactions of money and not only has that it also helped you with the proper setup of the financial transactions that too in the simplified format.

Royal Bank of Canada Swift Codes

Royal Bank of Canada Swift Codes
Royal Bank of Canada Swift Codes

Also Read: Eastern National Bank Swift Code

While you will go through the below-given information you will find the correct Royal Bank of Canada Swift Codes especially when you have the account with Royal Bank of Canada and you are opting for the future transaction using this code. The code is a mere 8 to 11 character and it is also known by BIC code and IFSC code in India. So go through the article below to know more about the Royal Bank of Canada Swift Code.

About: Royal Bank of Canada

The Royal Bank of Canada is a well-known bank that provides multinational financial services and also it is the largest bank in Canada by Market Capitalization. The bank also serves more than 16 million clients and also has more than 80000 employees present worldwide actively using the service of it.

The bank has been existing since 1864 in Halifax Nova Scotia even though headquarter is located in Toronto, Ontario.

The bank has been serving its users 155 years ago and the key people are David I M.c kay who serves as President and CEO of the company.

The bank is having its well-known subsidiaries as City National Bank, RBC Bank and Royal Bank of Trinidad and Tobago.

Rest if you want to know more about the services of Royal Bank, you can simply visit its official site.

Also Read: Quakertown National Bank SWIFT Code

What is SWIFT Code or BIC Code and what’s Its Use?

You have probably come across the need to find a SWIFT CODE (or BIC code) because you were asked through web banking to send money to a different bank than you. This is because almost all the banks in the world are members of Swift Network, which are responsible for money transfers and messages between financial (and even non-financial) institutions, and this system requires the use of these codes.

A swift code is a unique identifier for every institute’s branch in the world”. This code is very important for transferring money from one institution to another, and our site is a special search engine for these codes and the institute takes them.

These codes are known as SWIFT codes because of the organization that first introduced them (SWIFT – Society for Worldwide Interbank Financial Telecommunications), but later they were standardized as BIC (Business Identifier Codes). A swift code can be made with 8 or 11 characters.

Generally, most of the time, you only need an eight-letter swift code, which has 3 parts: the identifier of the entity (4 characters), country identifier (2 characters), and identifier location (2 characters). However, in some cases, if your bank pays via a specific branch, then you will need eleven digit code which includes the branch identifier.

Also Read: Citizens Bank of Weston Swift Code

What Do the Digits of Swift Code Represent?

A complete Swift code has several meanings and locations encoded with it. Swift codes are broken into different sections in the same way the telephone numbers are broken. Each section denominates several institutions that are assigned the code. Normally you will find a swift code consisting of 8 or 11 characters and each code is broken into sections. Let’s find out what are the imaginary 11-character swift code.

AAAABBCCDDD

These codes can be broken out like this:

AAAA-BB-CC-DDD

The first section i.e. (first 4 characters of swift code like AAAA): This section represents the institutions present globally (all the branches and divisions). Ex: CHASE represents “JPMORGAN CHASE BANK”

Second Section: (5th and 6th Characters like BB): This two-letter code denotes the country of that particular branch and this is represented under ISO 3166-1 alpha-2 standards about country code. Ex, US for the United States and GB for the United Kingdom whereas CA for CANADA, etc.

Third Section: (7th and 8th characters CC) represent a Location code (FF is the code for Frankfurt, KK is the code for Copenhagen). The second character of the section (8th in case of BIC) represents the below-given section:

  • If this is equal to “0”, then it is usually a BIC assigned for testing purposes (as opposed to the BIC used on live networks).
  • If it is equal to “1”, then it shows an inactive partner in the SWIFT network.
  • If it is equal to “2”, then it usually refers to the “reverse billing” BIC, which means that the recipient of the message must pay for the message

Fourth Section: (9th to 11th characters like DDD) these last 3 characters of any swift code represents “branch code” which is used to refer to a particular branch or institution. If you omit this, you will remain with an 8-character swift code which is assumed to refer to the ‘Head Office’ of institutions. A typical naming convention is referring to the main offices of an institution and the branch code is XXX.

Also Read: Schlumberger Employees Credit Union Swift Code

The Downside of International Transfer Through your Bank

Though International transaction via your bank if instant and secure; talking about the downside of the international bank transfer, it doesn’t mean to compromise the security in the exchange but only a little lag about the International transfer is that it takes a little heavy charge when you choose wire transfer with your bank to send or receive and cannot be said as a cost-effective solution. Sometimes you are also charged some hidden fees as well.

Royal Bank of Canada Swift Codes

Institution SWIFT code Branch name City Country
ROYAL BANK OF CANADA ROYCCAT2XXX (HEAD OFFICE) TORONTO CANADA
ROYAL BANK OF CANADA ROYCCAT2CIC CALGARY CANADA
ROYAL BANK OF CANADA ROYCCAT2HIC HALIFAX CANADA
ROYAL BANK OF CANADA ROYCCAT2MIC MONTREAL CANADA
ROYAL BANK OF CANADA ROYCCAT2CLS (CLS NOSTRO SERVICES) TORONTO CANADA
ROYAL BANK OF CANADA ROYCCAT3IMM (CAPITAL MARKETS DEPT) TORONTO CANADA
ROYAL BANK OF CANADA ROYCCAT2VFS (RBC GLOBAL SERVICES, ISS) TORONTO CANADA
ROYAL BANK OF CANADA ROYCCAT2VIC VANCOUVER CANADA
ROYAL BANK OF CANADA ROYCCAT2WIC WINNIPEG CANADA

FAQs

What is the transit number for Royal Bank of Canada?

RBC Royal Bank’s Institution Number: 003. RBC Royal Bank Routing / ABA Number (if funds coming from US): 021000021

What is Royal Bank Institution number?

The RBC institution’s number (or bank number) is 003. … In Canada, the bank’s personal and commercial banking operations are branded as RBC Royal Bank in English and RBC Banque Royale and serve nearly ten million customers through its network of 1,20,000 branches.

Is there a Royal Bank of Canada in the US?

Canadian banking products and services are provided by Royal Bank of Canada and its Canadian subsidiaries. Canadian deposit accounts in US dollars, such as the American Personal Account and the RBC American High Interest Account, are not insured by the Canadian Deposit Insurance Corporation (“CDIC”).

Is RBC the largest bank in Canada?

The Royal Bank of Canada (RBC; French: Banque Royal Canada) is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank has more than 16 million customers and 80,000 employees worldwide.

Does Royal Bank of Canada have an IBAN number?

No. Banks in Canada don’t use IBANs to identify specific banks or account numbers. We use SWIFT codes instead.

Final words

After reading the complete article above which gives you the complete information related to Royal Bank of Canada Swift Codes you might be clear with the idea about what is Swift code and BIC code, what is the use of it, what the digits of Swift code means are and finally why Swift code is used? The information above also has given you “Royal Bank of Canada Swift Code” and this further helps you in your financial transactions.

Hopefully, the effort to give you the complete knowledge about SWIFT CODE might have brought the fruit and you are clear by now with the issues that are directly related to the Swift code of Royal Bank.

So, if you have found the article helpful to you then drop your feedback in our remark section below.

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