Collecting Payments in USD and CAD Funds – ACH Direct Payments (Pre-Authorized Debits (PAD)) Service

You can collect payments in both USD and CAD:

Collecting Payments in CAD

This service is most suitable when:

  • The majority of your payment collections are from personal or business accounts within Canada and in Canadian dollars (CAD). US dollar (USD) payments destined to financial institutions in Canada or in the United States are converted to USD.
  • Your organization conducts a CAD account and wishes to have all electronic payments credited to this account.
  • Fees are collected from your CAD account.

Service Features

Payments are credited to your RBC Royal Bank CAD dollar account, from three possible sources:

  • Payments collected from Canadian financial institutions in Canadian dollars.
  • Payments collected from U.S. dollar accounts in Canada, which will be converted to U.S. dollars.
  • Payments collected on your behalf from accounts held at financial institutions in the United States, which will be converted to U.S. dollars prior to being debited.

Collecting payments in USD

This service is most suitable when:

  • The majority of your payment collections are from personal or business accounts in Canada or in the United States and they are in USD. Canadian dollar payments destined to financial institutions in Canada are converted to CAD.
  • Your organization conducts a USD account and wishes to have all electronic payments credited to this account.
  • Fees are collected from your USD account.

Service Features

Payments are credited to your RBC Royal Bank U.S. dollar account, from three possible sources:

  • Payments collected from Canadian financial institutions in U.S. dollars.
  • Payments collected from accounts held at financial institutions in the United States in US dollars.
  • Payments collected from CAD dollar accounts in Canada, which will be converted to CAD dollars.