Making Payments in USD and CAD Funds – ACH Direct Deposits Service

For both Canadian and U.S. fund services, the control debit account for the disbursement of payments must be an RBC Royal Bank account.

For client set up to fund their direct deposits in advance (also known as Prefunding), the control debit account for the payment disbursement must either be an RBC Royal Bank Business Account or an RBC Royal Bank Personal Deposit Account. Your control account must reside in the same province where your profile is located.

You can make payments in both USD and CAD.

Making Payments in Canadian Funds

This service is most suitable when:

  • The majority of your payments are within Canada and in CAD currency. U.S. Payments destined to financial institutions in Canada or in the United States are converted to USD funds.
  • Your organization conducts a CAD account and wishes to have all payments debited to this account.
  • Fees are collected from your CAD account.

Service Features

The control account debited for disbursement of payments must be an RBC Royal Bank Business CAD Account. Payments are debited to your RBC Royal Bank CAD dollar account, to three possible destinations:

  • Payments are made to Canadian financial institutions in Canadian dollars.
  • Payments are made to U.S. accounts in Canada, which will be converted to US dollars.
  • Payments are made to accounts in the United States, which will be converted to USD.

Making Payment in American Funds

This service is most suitable when:

  • The majority of your payments are in USD destined for Canada or in the United States. CAD Payments destined to financial institutions in Canada will be converted to CAD funds.
  • Your organization conducts a USD account and wishes to have all payments debited to this account.
  • Fees are collected from your USD account.

Service Features

  • The control account debited for disbursement of payments must be a RBC Royal Bank Business USD Account.
  • Payments are debited from your RBC Royal Bank U.S. dollar account, to three possible destinations:
    • Payments are made to Canadian financial institutions in U.S. dollars.
    • Payments are made to accounts held at financial institutions in the United States in U.S. dollars.
    • Payments made to CAD accounts in Canada, which will be converted to CAD dollars.