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RBC Royal Bank® issues bank drafts in domestic and foreign currencies(1). Drafts are a good choice if you are looking for a physical means of providing payment to a third party. Funds are immediately taken from your banking account in exchange for the draft, enabling the bank to guarantee the funds for the recipient.

Bank drafts can be used to make a payment to a third party in almost any currency, both in Canada and abroad(2) and are available for a fee of $8.50 each (any currency). Some banking packages include a number of free bank drafts per year, so be sure to review your account features prior to requesting one.

Other Ways to Send Money

Interac e-Transfer RBC International Money Transfers 
If you are looking for a quick and simple way to send money to someone in Canada, sending an Interac e-Transfer is a great option and all you need is the recipients email address or cell phone number. Best of all it’s FREE for all personal chequing accounts and can be done in RBC® Online Banking(4) or in the RBC Mobile app - 24/7 - up to a maximum of $2,500.

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No need to line up at the branch to send money overseas. With the RBC International Money Transfer service in RBC Online Banking, you can send up to a maximum of $2,500 CAD per day to almost any country in the world, including the U.S.(4) for only $13.50 per transfer(6) - all from the comfort of your home or office.

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1) U.S. dollar drafts cannot be sold to non-RBC clients. U.S. regulations require financial institutions to know with whom they are dealing before any transaction is completed.

2) RBC is not able to cancel or stop a Bank Draft. If lost or stolen, a replacement or refund will need to be requested, and a Bond of Indemnity may be required from the purchaser.

4) RBC Online Banking is operated by Royal Bank of Canada.

5) Not available to recipients in Canada and restricted countries. If your Recipient lives in Canada, you can send them an Interac e-Transfer. Send unlimited free transfers from your RBC personal chequing account.

6) International Money Transfers are available for a $13.50 per transaction fee. Excess debit transaction fee may also apply depending on the account. Additional service fees by any intermediary and receiving bank may apply. Currency conversion fees may also apply. The financial institution on the receiving end of the transaction may have other requirements.