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 FREE5, 6 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