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A simple, convenient and secure method for Business & Corporate Banking clients to make multiple payments & collect receivables quickly and securely via RBC Digital Banking.


How can RBC BusinessPay Improve Your Business?

From making payments to vendors and suppliers to regularly paying your employees, our solution will increase control over your cash flow and reduce your costs.

  • Save time by integrating payments electronically
  • Stop processing labour-intensive cheques and save money
  • Immediately know when payments are made for better reconciliation
  • Enable Approval Workflows for enhanced internal controls
  • Submit payments leveraging best-in-class security

Here is what’s included in RBC BusinessPay for Business and Corporate Banking clients:

Overview

Easy direct data entry for individual payments
A sample .CSV file for multiple payments to get you started (if necessary)
File format error checking & field validations
Make payments in USD or KYD currencies
Full audit trail for submitted payments
A total running count & dollar value of payments
Ability to save files locally on your device (Web only)
A PDF file viewer for those approving on-the-go using our app ‘RBC Caribbean’

This service is facilitated via the Automated Clearing House (ACH), which is operated by Trinidad & Tobago Interbank Payments System (TTIPS), the ACH Operator. Other local commercial banks, which are Participants in TTIPS, are as follows:

  • Bank of Baroda (Trinidad & Tobago) Limited
  • Citibank (Trinidad & Tobago) Limited
  • First Citizens Bank Limited
  • FirstCaribbean International Bank ( Trinidad and Tobago) Limited
  • JMMB Bank (Trinidad & Tobago) Limited
  • Republic Bank Limited
  • Scotiabank Trinidad & Tobago Limited
  • Personal Banking clients with single/joint "or" TTD accounts in Trinidad & Tobago will have automatic access to this feature.
  • Business Banking customers, who currently have access to the wire transfer functionality, would automatically have access to this feature.
  • All other Business Banking users will be required to request access to the new "Send to Local Bank" functionality by submitting (contact your Business Centre/Branch for further guidance):
    • Amended Electronic Banking Application eform 0294 and Electronic Banking User enrolment eform 0293 - with Wire Transfer permission selected or (available on our website at www.rbc.com)
    • Company letter authorizing access to the wire transfer permissions for named business user(s).

Clients can:

  • Create and save a template to Send funds to local bank
  • Modify the templates
  • Create recurring payments to other local banks

Personal & Business Banking clients in Trinidad & Tobago can access this new "Send to Local Bank" feature via:

  • The main menu in Digital Banking
  • Transfer Money on Android devices
  • Payments on iOS and Web app
  • A client is required to complete the fields labelled: Amount (TTD only), When, Frequency, Beneficiary’s Name, Beneficiary’s Account number, Select the Beneficiary’s Bank & the Purpose Code and Submit.
  • The client is then prompted to verify the transaction transfer information. Once verified, the client is asked to either enter the answers to two (2) Personal Verification Questions (PVQs) or enter their digits for Two Factor Authentication (TFA).
  • The client is then prompted to verify the transaction transfer information. Once verified, the client is asked to either enter the answers to two (2) Personal Verification Questions (PVQs) or enter their digits for Two Factor Authentication (TFA).
  • The Interbank Transfer payment is then released and sent to the "Processing" queue for completion.
  • The client can proceed to "Approvals & Processing" to see the status of the transaction.
  • Submission timelines apply for processing within 24 hours.

Per Transaction Cost: TT$1.25 per transaction

  • Personal clients will notably be able to conduct ACH Direct Credits at the same "bulk service" cost as business clients.
  • This fee will be embedded in the transaction transfer amount and will appear in the client’s transaction history.
  • Example: Successful transfer of TTD100 to other local bank will appear as: TTD101.25

Credit Return Fee: TT$2.00 if item is returned by the Receiving Bank

  • The credit to the customer’s originating TT$ Savings or Chequing account will show the deduction of TT$2.00.
  • Example: Original transfer amount to other local bank = TTD50.00; however this was a returned item for one of the reasons listed in FAQ 10 below. Credit to customer’s originating TTD Savings or Chequing account would be TT$48.00

Currency Allowed: TTD transactions from TTD accounts can be facilitated.

  • No cross currency or FX-currency transactions are allowed.
  • Yes, no single ACH transaction can exceed TTD499,999.99, as per Central Bank of Trinidad and Tobago (CBTT) and Trinidad & Tobago Interbank Payments System (TTIPS) rules.
  • Kindly note that based on additional security measures to protect clients, the new payment type “Send to Local Bank”, limit is tied to most Personal Banking client’s standard third party transactional limit.
  • A client’s Digital Banking limit will still apply per day across the following third party payment types: Wires, Send to RBC client and Send to Local Bank.
  • The existing variable daily limits for third party transactions for VIP and Private Banking clients will apply.
  • Business Banking clients limits (where applicable) will be based on user permissions for the Business.
  • Accordingly, where lower daily limits are applicable by Client/Business User, this applicable limit would be the maximum daily amount allowed to Send Funds to Local Bank. This limit is shared among the aforementioned transaction types and must be considered if the client is attempting to conduct multiple third party transactions within the same day.

    Where daily limits are not applicable or are in excess of TT$500,000, no individual ACH transaction can exceed TT$499,999.99. Clients can opt to:

    • Do multiple transactions less than TT$500,000 or
    • Contact the Bank to request a Local Wire transfer for large value transfers (local wire fees will apply), which is a Real Time Gross Settlement (RTGS ) transaction and not an ACH transaction.
    • TTD Transfers conducted by no later than 12:00 noon local time on any business day, will be sent by RBC to the ACH Operator within the same business day.
    • Participant Banks generally process such items within the same business day but are not required to process such transactions until the following business day.
    • Transfers conducted after 12:00 noon local time on any business day, on weekends and on public holidays will be considered to be part of the following business day’s work and will be sent by RBC to the ACH Operator by the next business day.
  • Clients must ensure that the complete savings or chequing account number (only) for the receiver is provided for successful transactions.
  • ACH does not facilitate credit card transactions.
  • Ensure you follow special instructions outlined below for funds to be sent to Scotia Bank. When conducting a transfer to Scotiabank Trinidad and Tobago specifically, pay special attention to the following:
    • Scotiabank Account numbers can range anywhere from 10 to 12 digits long, however a 12 digit account number is required to facilitate transaction via the ACH.
    • In all instances the first (5) digits of the account number represents the branch transit (location).
    • This will be followed by either 5, 6 or 7 digits making up the recipients account number.
    • If you are unsure of the beneficiary’s account number, please contact the recipient to confirm the same. It is imperative that the account number entered is accurate to avoid failed transactions and associated credit return fees.
    • To send money to a Scotiabank client, follow the steps below:
      • Example 1(Clients with 10 digit account numbers):
        Branch Location Diego Martin Branch
        Transit No: 74625
        Account No: 12345
        Receiver’s Account Number: 7462512345
        Must fill with zeros between the branch transit and account number to create 12-digit number = 746250012345
      • Example 2 (Clients with 11 digit account numbers):
        Branch Location Diego Martin Branch
        Transit No: 74625
        Account No: 123456
        Receiver’s Account Number: 74625123456
        Must fill with zero(s) between the branch transit and account number to create 12-digit number = 746250123456
      • Example 3 (Clients with 12 Digit Account Numbers):
        Branch Location Diego Martin Branch
        Transit No: 74625
        Account No: 1234567
        Receiver’s Account Number: 746251234567
        No action required. Use recipient’s account number as stated: 746251234567

An Interbank payment transfer can be rejected for any number of reasons such as:

  • Beneficiary Bank Account Closed
  • Beneficiary Bank Account Invalid
  • No Account/Unable to Locate Account
  • Return Requested by ODFI
  • Payment Stopped
  • Payment not Authorized
  • Beneficiary or Account Holder Deceased
  • Beneficiary Account Frozen
  • Non-Transaction Account (e.g. fixed deposit account/contract)
  • Credit Entry Refused by Beneficiary
  • Duplicate Entry
  • Duplicate Return

When the Beneficiary Bank is unable to process a transfer for any reasons listed above, the funds are returned to RBC to be credited to the respective client’s originating savings or transactional deposit (chequing) account. Note when funds are returned, a credit return fee of TTD2.00, will be deducted from the original transfer amount.

Once RBC is notified by the client sending the funds (the RBC Originator) in a timely manner (within the same or by no later than next Business day from value date of transaction), RBC will attempt to initiate a reversing entry, however, it is noted that if the Receiving Bank has not returned the entry and has already processed same, in the event that the account is a valid account number on their system, and the Receiving Bank is unable to recover the funds from the erroneous receiver, RBC will not be able to complete processing of the reversal and will not be liable for the transaction. Senders are strongly encouraged to closely review data before sending a transfer. Once the confirmation of the transaction is acknowledged/accepted, this transaction is construed to be as final instructions by the sender/Originator to RBC.

This Electronic Funds Transfer(EFT) is an ACH Direct Credit service, which is facilitated via the Barbados Automated Clearing House Services Inc. (BACHSI) which operates the Automated Clearing House in Barbados.

You can send funds to a deposit account (chequing/savings) at any of the following banks, which are Direct Participants in the BACHSI:

  • Bank of Nova Scotia/Scotiabank
  • Republic Bank (Barbados) Limited (formerly Barbados National Bank)
  • CIBC First Caribbean International Bank
  • Central Bank of Barbados
  • First Citizens Bank (formerly Butterfield Bank Limited)

Personal Banking clients with single/joint “or” BBD accounts in Barbados will have automatic access to this feature.

To send BBD transfers, this must be initiated from a client’s BBD deposit account only (savings or chequing).

VIP/Business/Corporate clients will be able to access “Send to local bank” functionality upon formal request to be sent to their Relationship Manager (RM) or via their Branch. The RM or Branch would need to:

  • Complete the updated Electronic Banking Application eForm with the amendment (the updated eform will be available at launch in August, 2018.

Clients can:

  • Create and save templates to "Send to local bank"
  • Modify the templates

Personal & Business Banking clients in Barbados can access this new “Send to Local Bank” feature via:

  • The main menu in Digital Banking via Payments
  • Transfer Money on Android devices
  • Payments on iOS and Web app

“Send to local bank” feature will enable clients to send funds to any local recognized financial institution. Fees and Service charges will apply to this feature and clients can consult RBC’s Schedule of Fees & Service charges or contact the Client Advice Centre for more details.

  • A client is required to complete the fields labelled: Amount (BBD only), Beneficiary’s Name, Beneficiary’s Account number (no spaces/dashes or any special characters to be included in account numbers), Select the Beneficiary’s Bank & the Purpose Code etc. and Submit.

    It is important to note that “Send to local bank” feature will facilitate BBD to BBD transfers only (i.e. “From Account” to “To Account” i.e “From” and “To” deposit accounts only (savings/chequing) There will be no cross currency allowed.

    Note: There will be a warning to all clients:
    " Warning: Please call and verify details directly with the beneficiary and/or click the Domestic Clearing help icon for guidance prior to sending any local bank transfer.

    The help icon will direct a client to the Digital Banking Hub (Barbados’ ACH Frequently Asked Questions) to view a number of tips they can follow to ensure their details are correct before sending any local bank transfer.

    It is important to take note of the Branch Transit Numbers as these criteria MUST be followed when inserting the Beneficiary Account number details.

  • The client is then prompted to verify the transaction transfer information. Clients are reminded to ensure that the receiver account number is accurate. The Bank will not be liable, if we are unable to recover funds from a Receiving Bank, in an instance where an incorrect number is provided by the sender.
  • The Interbank Transfer payment is then released and sent to the “Processing” queue for completion.
  • The client can proceed to “Approvals & Processing” to see the status of the transaction.
  • Submission timelines apply for same day processing on Business days.
  • The client can also save this transfer type as a template.

It is important to note that “Send to local bank” feature will facilitate BBD to BBD transfers only (i.e. “From Account” to “To Account”). There will be no cross currency allowed to send transactions.

  • Per Transaction Cost:
    Electronic processing fee to Local Bank (ACH Direct Credit Single Transfer)
    BBD $1.00 per ACH credit transaction; and
    BBD $0.25 per return item
    This fee will appear in the client’s transaction history
  • Currency Allowed:
    BBD to BBD transfers will be facilitated (“From Account” to “To Account”)
    No cross currency or FX-currency originating transactions

Yes. For enhanced security purposes, RBC will apply a maximum limit for this transfer type as follows:

For RBC Personal Banking clients, a single ACH transaction should not exceed BBD 150,000. This will be applicable based on entitlement daily limits assigned;

For Business/Corporate clients, an RBC imposed ACH limit for this feature should not exceed BBD 300,000 for a single ACH Direct Credit transfer. Should a Business/Corporate client wish to send a larger transfer to any local bank, then the bulk ACH services can be utilized.

This above does not supersede any lower daily digital transaction limits, which are set by the Bank.

This new transfer type will be set as an ACH Transfer type limit and clients can access the transfer via “Send to local bank” feature.

Where daily limits are not applicable or are in excess of the RBC limits detailed in FAQ 7, clients can opt to:

  • Personal Clients - Do multiple transactions less than BBD 150,000; or
  • Business/Corporate clients - Do multiple transactions less than BBD 300,000;
  • Business clients with bulk payment needs can sign-up for other Cash Management solutions - Automated Direct Credit services for electronic payroll, vendor payments etc.
  • Contact the Bank to request a Local Wire transfer for large value transfers (local wire fees will apply), which is a Real Time Gross Settlement (RTGS ) transaction and not an ACH transaction;
  • Contact your respective branch to request a draft/manager's cheque as necessary (higher fees will apply)

"Send to Local Bank" transfers will operate as follows:

  • BBD Transfers conducted by 12:00 noon local time on any business day, will be sent to the recipient Bank via the BACHSI for same day processing.
  • Transfers conducted after 12:00 noon local time on any business day, on weekends and on non-business days will be sent to the recipient Bank via the BACHSI on the next business day.

The above is subject to any additional validation requirements being met as additional security measures, where for certain values and first time transactions to new beneficiaries RBC will attempt to establish telephone contact- based on contact information on our records to have the client verbally validate the transaction before releasing the transaction for processing. If RBC is unable to successfully contact the sender/client within the same business day, transactions may then be rejected or held over until the next business day for processing. Customers are reminded to ensure that up to date contact information is provided to the bank.

An Interbank payment transfer can be returned for reasons which may include, but is not limited to:

  • Insufficient Funds
  • Account Closed
  • No Account/Unable to Locate Account
  • Invalid Account Number
  • Returned per ODFI's Request
  • Payment Stopped
  • Uncollected Funds
  • Customer Advises Not Authorized, Improper or Ineligible
  • Representative Payee Deceased or Unable to Continue in That Capacity
  • Beneficiary or Account Holder (Other Than a Representative Payee) Deceased
  • Account Frozen
  • Credit Entry Refused by Receiver
  • Duplicate Entry

When the Beneficiary Bank is unable to process a transfer for any reasons listed above, the funds are returned to RBC Royal Bank (Barbados) Limited to be credited to the respective client’s everyday banking/savings originating account. Generally items are returned by receiving banks within two (2) Business days after receiving the original transaction. Kindly note that participant banks are allowed to return items within seventy two (72) hours after the settlement date.

“Send to local bank” transactions will appear in the Approvals & Processing section of Digital Banking, while they are being processed by RBC. Once RBC finishes validating & processing the transaction it will appear in the History & Upcoming section of Digital Banking.

The intended purpose of some transactions to satisfy RBC’s regulatory reporting requirements. In Digital Banking, it currently defaults to DP (Direct Payment), however the client can change this according to purpose.

Once RBC is notified by the client sending the funds (the RBC Originator) in a timely manner (within the same or by no later than next Business day from value date of transaction), RBC will attempt to initiate a reversing entry, however, it is noted that if the Receiving Bank has not returned the entry and has already processed same, in the event that the account is a valid account number on their system, and the Receiving Bank is unable to recover the funds from the erroneous receiver, RBC will not be able to complete processing of the reversal and will not be liable for the transaction. Senders are responsible for the accuracy of information and are are strongly encouraged to closely review data before sending a transfer. Once the confirmation of the transaction is acknowledged/accepted, this transaction is construed to be as final instructions by the sender/Originator to RBC.

  • Use Numeric only - No spaces/dashes or any special characters should be included in account numbers.
  • For all participant banks, beneficiary’s account number length guide should be (Transit number + Account number e.g 1234567890. This is standard across all local Financial intitutions in Barbados. First five digits should always be the Bank Transit number followed by the account number. Bank Transit numbers can be referred from FAQ 10.

Frequently Asked Questions

In our effort to continuingly transform and enhance our service offerings, RBC Digital Banking is pleased to launch one more convenient option to make doing business via RBC, easier and more convenient. RBC BusinessPay, enables business and corporate clients to more readily benefit from KYD and USD Electronic Fund Transfer (EFT) services via Digital Banking such as:

  • RBC Automated Direct Credit, for electronic processing of transactions including payroll, dividends, pensions, salaries and other credits.
  • RBC Automated Direct Debit, for collection of recurring receivables, premiums, and other similar transactions.

Some of the key benefits of the using this new RBC BusinessPay function will include:

  • Convenience – Electronic Funds Transfer initiation, transactions can be done from your desktop.
  • Speed - Same day processing (conditions apply) directly into payees’ accounts.
  • Faster reconciliation with shorter time between payment issuance & reconciliation.
  • Reduced risks & costs - elimination of cheque and cash handling.

Electronic Funds Transfer (EFT) refers to transactions that take place over an electronic payment network, either among accounts at the same bank or among accounts at participating banks. EFTs may include direct-debit transactions, direct credits and other store and online banking initiated transactions.

Yes, current process will be retained. All Business and Corporate clients must enroll for RBC ACH Services and sign the ACH EFT agreement. Clients will be required to enroll for the RBC BusinessPay functionality in Digital Banking.

Clients will now have a preferred option to use automated or self-serve capability to send bulk ACH instructions via Digital Banking rather than sending secure email instructions. This will provide a more efficient, user-friendly and secure option for business and corporate clients to capture and upload bulk ACH payments or collections instructions via Digital Banking.

Business and Corporate clients can utilize RBC BusinessPay to send KYD and USD payments to RBC and the following other participant banks in the Cayman ACH (CIACH):

  • Butterfield Bank (Cayman) Limited
  • Cayman National Bank Ltd.
  • CIBC FirstCaribbean
  • International Bank (Cayman) Limited
  • Fidelity Bank (Cayman) Limited
  • Scotiabank & Trust (Cayman) Ltd
  • RBC Royal Bank (Cayman) Limited

Once Business and Corporate clients have enrolled for Automated Direct Credit and/or Automated Direct Debit services, and have signed all the necessary agreements, access will be granted for RBC BusinessPay function.

Business and Corporate clients will be able to access to “RBC BusinessPay” functionality upon formal request to be sent to their Relationship Manager (RM) or via their Branch. The RM or Branch would need to:

  • Complete the updated Electronic Banking Application eForm with the amendment (the updated eform will be available at launch on July 29th, 2019.

Business and Corporate clients can make KYD or USD payments to and/or collect funds from savings and chequing account holders at RBC and other banks. Some common examples include making salary and vendor payments and/or collecting funds from their clients (preauthorization required for debits).

A Business or Corporate user can follow a simple 3 step process – Upload/Direct Data entry, Edit and Submit.

  1. Users can upload a file (.CSV format only) or perform Direct Data Entry.
  2. Once the .CSV file is uploaded, payment details are auto-populated and ready for any inline editing.
  3. User can edit the auto-populated payment details if needed.
  4. At any point, the user can Save a Copy to their computer for editing. After editing, the user may opt to re-upload at a later time.
  5. Once all in-line editing is completed, user can submit the payments.
    Note: The Submit button will remain disabled until all items in the respective fields are validated.
    After file submission, the user can review the payments. At this point, if the user reviews and sees any discrepancies, they can opt to cancel the submitted file.
  6. For Files awaiting approval, the Approver can click to review the RBC BusinessPay transactions and then proceed to bulk approve or bulk reject.
    Note: Only after the file is approved, RBC would receive it for processing.
  7. The status of file submission or approval can be viewed under Approvals & Processing and History & Upcoming respectively.

Note: Uploading of .CSV files and performing Direct Data Entry can be executed on RBC Digital Banking (https://caribbean.rbcroyalbank.com) on online/web only. In-line editing will also be executed in online/web only. Approvals & Processing, as well as History & Upcoming functions can be accessed via Web, iOS and Android devices specifically to this function (RBC BusinessPay).

Note: Clients with iOS devices MUST ensure that they are always using the latest version of the RBC Caribbean app from the App Store in order to access Approvals & Processing feature for RBC BusinessPay.

Clients can click on the ‘Save a Copy’ button and a .CSV format file is downloaded on their machine/system. Clients can modify the data on the downloaded .CSV format file and ensure to save the file in the same .CSV (Comma delimited) format after modification. Clients MUST ensure .CSV formatting is retained when the file is saved, especially with the Beneficiary Account number column. Please note Beneficiary Account number cells need to be formatted to number formatting without decimals. Save for further use and upload functions in RBC BusinessPay.

There is no limit to the number of ACH transactions in a file, however, no single item within a file can exceed USD500,000 or KYD 416,666.66 as per industry (CIACH) rules. Should a client wish to make a large value transaction, options include making smaller transactions, online wires, or utilizing other payment options such as drafts or cheques.

Note: Amount field should not include any special characters like (@ # $ % ^ & , etc.) and must be to two decimal points (e.g. entry should be 3445.89)

The sending of RBC BusinessPay transactions is restricted to receiving savings or chequing accounts at RBC & other five participating banks in the CIACH in either USD or KYD dollars only. Cross Currency are not allowed for originators, that is, if an originator seeks to send a KYD file, it must be originated from a KYD account and the same applies for USD. Each file being sent must contain only KYD transactions or USD transactions, no mixed items are allowed in one file. Separate files are required for ACH Credit and ACH Debit items, mixed debits and credits are not allowed in 1 file.

For same day processing, files must be submitted and approved by 11:00a.m EST on business days.

Yes, please refer to the Schedule of Fees and Charges for the most up to date fees and charges.

Where daily limits are not applicable or are in excess of USD 500,000 or KYD equivalent, clients can opt to:

  • Do multiple transactions < US 500,000 or KYD 416,666.66; or
  • Send a local Wire transfer (payments)/ receive an incoming wire for collections
  • Other options includes cheques and drafts

RBC BusinessPay transactions will appear in the “Processing Tab” of the Approvals & Processing section of Digital Banking, while they are being processed by RBC. Once an Approver accesses the RBC BusinessPay file and approves or rejects payments, this file with the approved or rejected items will show in “RBC BusinessPay” section of History & Upcoming in Digital Banking. The file with the respective payments will be View Only in the History & Upcoming section, after it is approved or rejected.

In Digital Banking, if the Approver of a company has performed a review and rejects a file with all the payments, the client can seek to recreate those payments again and submit. Rejected files from an Approver, will not be sent for processing. Rejected files can be viewed in the History & Upcoming function in Digital Banking.

Business and Corporate clients can use the “Save a Copy” function to save their .CSV file to their computer to use at any later period. They can upload this .CSV file, perform any in-line editing (if required) and Submit. Advance dated files can only be successfully uploaded to RBC Business pay up to 1 Business Day in advance.

Yes there are special guidelines:

  • Use Numeric only- maximum 17 digits. No spaces/dashes or any special characters should be included in account numbers e.g. 12345678900.
  • See below participant bank account number length guide.
Bank Name & Beneficiary Account Number Maximum Length Transit number required in Beneficiary Account Number field? Yes or No
Scotiabank
17 digits or less

Branches & Transits:
Scotiabank & Trust (Cayman) Limited - 10785
Scotia Wealth Management – 88815
Yes – 5 digit transit
e.g. 10785 1234567890
(Transit # + Account #)
Fidelity
8 digits
No
e.g. 12345678
(Account#)
Cayman National
8 digits
No
e.g. 12345678
(Account#)
CIBC FirstCaribbean
12 digits
No
e.g. 123456789012
(Account#)
Butterfield Bank
13 digits or less
Note: Accounts beginning with 136 or 840 do not require leading zeros; accounts beginning with 1 or 2 require leading zeros
No
e.g. 1234567890123
(Account#)
RBC Royal Bank
12 digits (5 digit Transit number and 7 digit Account number)

Branches & Transits:
RBC Main Branch – 06975
RBC Red Bay – 07925
RBC Private Banking – 96677
RBC Private Banking - 07136
RBC - Yes, 5-digit transit must be included in complete account number
eg. 069751234567
(Transit # + Account #)

Currently returned items for Cayman ACH is automated. Business and Corporate clients are advised to review their account(s) to identify those returned items within 1-2 business days after submission of the original file.

Once the output is in the approved file format and in a CSV file, then this file can be uploaded using the RBC BusinessPay functionality.

Yes. This .CSV file can be uploaded to RBC BusinessPay (please refer to FAQ 9 for guidance for .CSV formatting).

This service is facilitated via Automated Clearing House (BACH), which is operated by Bahamas Automated Clearing House (B.A.C.H), the ACH Operator. Other local commercial banks, which are Participants in B.A.C.H, are as follows:

  • Bank of the Bahamas Limited
  • Scotiabank (Bahamas) Limited
  • Citibank, N.A.
  • Commonwealth Bank Limited
  • Fidelity Bank (Bahamas) Limited
  • FirstCaribbean International Bank (Bahamas) Limited
  • Personal Banking clients with single/joint “or” BSD accounts in Bahamas will have automatic access to this feature in April 2018.
  • Business/Corporate clients will be able to access to “Send to local bank” functionality upon formal request to be sent to their Relationship Manager (RM) or via their Branch. The RM or Branch would need to:
    • Complete the updated Electronic Banking Application eForm with the amendment (the updated eform will be available at launch in April, 2018) or:
    • Submit Company Letter with authorized signatories with instructions indicating the user(s) to grant access

Clients can:

  • Create and save a template to Send funds to local bank
  • Modify the templates

Personal & Business Banking clients in Bahamas can access this new "Send to Local Bank" feature via:

  • The main menu in Digital Banking via Payments
  • Transfer Money on Android devices
  • Payments on iOS and Web app

Send to local bank will enable clients to send funds to any local recognized financial institution.

Fees and Service charges will apply to this feature and clients can consult RBC’s schedule of Fees & Service charges or contact the Client Advice Centre in Bahamas for more details.

Personal & Business Banking (upon request) clients in Bahamas can access this new feature "Send to Local Bank" via the main menu in Digital Banking, via Transfer Money on Android devices, and via Payments on iOS and Web app.

  • A client is required to complete the fields labelled: Amount (BSD only), Beneficiary’s Name, Beneficiary’s Account number (no spaces/dashes or any special characters are allowed), Select the Beneficiary’s Bank & the Purpose Code etc. and Submit.

    Note: There will be a warning to all clients:
    "Warning: Please call and verify details directly with the beneficiary and/or click the Domestic Clearing help icon for guidance prior to sending any local bank transfer."

    The help icon will direct a client to the Digital Banking Hub (Bahamas ACH Frequently Asked Questions) to view a number of tips they can follow to ensure their details are correct before sending any local bank transfer.

    It is important to take note of the Branch Transit Numbers as these criteria MUST be followed when inserting the Beneficiary Account number details (Bank Identifier Code) and the Branch Transit Numbers as these criteria MUST be followed when inserting the Beneficiary Account number details.

    Note: Please pay special attention to FCIB (ex-Barclays) Transit codes as those are no longer applicable from the Central Bank of Bahamas Annex 14: BIC Codes & Branch Transit Numbers.
    Please use these NEW transits instead:
    Old New
    Bay Street - ex Barclays 00020 Bay Street 09120
    Harbour Bay - ex Barclays 00021 Harbour Bay - alternative code 09121
    Palmdale - ex Barclays 00025 Palmdale - alternative code 09125
    Pioneers Way - ex Barclays 00029 Pioneers Way 09129
    Governor's Harbour - ex Barclays 00060 Governor's Harbour 09160
    Thompson Blvd. - ex Barclays 00062 Marsh Harbour - alternative code 09173
    Marsh Harbour - ex Barclays 00073 Thompson Blvd. 09262

  • The client is then prompted to verify the transaction transfer information.
  • The Interbank Transfer payment is then released and sent to the "Processing" queue for completion.
  • The client can proceed to "Approvals & Processing" to see the status of the transaction.
  • Submission timelines apply for same day processing
  • The client can also save this transfer type as a template.

BSD transactions from BSD accounts can be facilitated (no cross currency or FX-currency transactions are allowed).

Per Transaction Cost: BSD$1.00 per transaction

  • This fee will be will appear in the client’s transaction history, along with the applicable tax

Credit Return Fee: FREE if item is returned by the Receiving Bank

  • The credit to the customer’s originating BSD$ Savings or Chequing account will be processed.

Currency Allowed: BSD transactions from BSD accounts can be facilitated.

  • No cross currency or FX-currency transactions are allowed.
  • Yes. A single ACH transaction should not exceed BSD 149,999.99 as per BACH guidelines for standard ACH transactions.
  • This new transfer type will be set as an ACH Transfer type limit and clients can access the transfer via “Send to local bank” feature.
  • Business Banking clients limits for “Send to Local Bank” will be based on the operating rules and regulations of the Bahamas Automated Clearing House (B.AC.H) which is limited to BSD149,999.99 per transaction for standard ACH transactions.
  • ACH Network limit is set at BSD149,999.99 per transaction.

    Where daily limits are not applicable or are in excess of BSD $149,999.99, no individual ACH transaction can exceed BSD $149,999.99. Clients can opt to:

    • Do multiple transactions less than BSD $149,999.99 or
    • Contact the Bank to request a Local Wire transfer for large value transfers (local wire fees will apply), which is a Real Time Gross Settlement (RTGS ) transaction and not an ACH transaction.

    "Send to Local Bank" transfers will operate as follows:

    • BSD Transfers conducted by 12:00 noon local time on any business day, will be sent to the recipient Bank via the BACH for same day processing.
    • Transfers conducted after 12:00noon local time on any business day, on weekends and on public holidays will be sent to the recipient Bank via the BACH on the next business day.

    The above is subject to any additional validation requirements being met as additional security measures, where for certain values and first time transactions to new beneficiaries RBC will attempt to establish telephone contact- based on contact information on our records to have the client verbally validate the transaction before releasing the transaction for processing. If RBC is unable to successfully contact the sender/client within the same business day, transactions may then be rejected or held over until the next business day for processing.

  • Clients must ensure that the complete savings or chequing account number (only) for the receiver is provided for successful transactions.
  • ACH does not facilitate credit card transactions.
  • Ensure that you follow the guidelines in Branch Transit Numbers when inserting the Beneficiary Account number details.

    Note: Please pay special attention to FCIB (ex-Barclays) Transit codes as those are no longer applicable from the Central Bank of Bahamas Annex 14: BIC Codes & Branch Transit Numbers.
    Please use these NEW transits instead:
    Old New
    Bay Street - ex Barclays 00020 Bay Street 09120
    Harbour Bay - ex Barclays 00021 Harbour Bay - alternative code 09121
    Palmdale - ex Barclays 00025 Palmdale - alternative code 09125
    Pioneers Way - ex Barclays 00029 Pioneers Way 09129
    Governor's Harbour - ex Barclays 00060 Governor's Harbour 09160
    Thompson Blvd. - ex Barclays 00062 Marsh Harbour - alternative code 09173
    Marsh Harbour - ex Barclays 00073 Thompson Blvd. 09262

An Interbank payment transfer can be rejected for any number of reasons such as:

  • Beneficiary Bank Account Closed
  • Beneficiary Bank Account Invalid
  • No Account/Unable to Locate Account
  • Return Requested by ODFI
  • Payment Stopped
  • Payment not Authorized
  • Beneficiary or Account Holder Deceased
  • Beneficiary Account Frozen
  • Non-Transaction Account (e.g. fixed deposit account/contract)
  • Credit Entry Refused by Beneficiary
  • Duplicate Return

When the Beneficiary Bank is unable to process a transfer for any reasons listed above, the funds are returned to RBC Royal Bank (Bahamas) Limited to be credited to the respective client’s everyday banking/savings originating account.

"Send to local bank" transaction will appear in the Approvals & Processing section of Digital Banking, while they are being processed by RBC. Once RBC finishes validating & processing the transaction it will appear in the History & Upcoming section of Digital Banking.

Clients are required to state the intended purpose of some transactions to satisfy RBC's regulatory reporting requirements.

At this time, the acceptance of supplementary information (Addenda records) for ACH transactions, is not accepted in the industry, i.e. by all participant banks in the BACH. Standard information regarding the name of the sender will be provided to the Receiver’s bank to assist with the receiver’s ability to identify these transfers.

Once RBC is notified by the client sending the funds (the RBC Originator) in a timely manner (within the same or by no later than next Business day from value date of transaction), RBC will attempt to initiate a reversing entry, however, it is noted that if the Receiving Bank has not returned the entry and has already processed same, in the event that the account is a valid account number on their system, and the Receiving Bank is unable to recover the funds from the erroneous receiver, RBC will not be able to complete processing of the reversal and will not be liable for the transaction. Senders are strongly encouraged to closely review data before sending a transfer. Once the confirmation of the transaction is acknowledged/accepted, this transaction is construed to be as final instructions by the sender/Originator to RBC.