What is a Bank Draft?
A Bank Draft is a physical means of providing payment to a third party. Funds are immediately taken from your RBC bank account in exchange for the draft, guaranteeing the funds for the recipient.
Bank drafts can be used to make a payment to a third party, both in Canada and abroad1 and are available for a fee of $8.50 each. Some banking packages include a number of free bank drafts per year, so be sure to review your account features prior to requesting one.
Currencies available for brank drafts: CAD, USD, GBP, and Euro.
To order a bank draft2, go to any RBC Royal Bank branch in Canada.
Other Ways to Send Money
Looking for a quick and simple way to send money to others in Canada? Send an Interac e-Transfer, all you need is the recipients email address or cell phone number. It’s FREE for all personal chequing accounts and can be done in RBC Online Banking3 or in the RBC Mobile app3.Learn about Interac e-Transfer
Set up a Direct Deposit
Direct Deposit is a convenient, reliable, quick way to deposit funds directly into someone’s account. All you need is the recipient’s name and account information. A great alternative to cheques with instant access to funds, no holds, and no risk of lost or stolen cheques.Learn about Direct Deposit