Ordering Foreign Currency from RBC

Ordering foreign cash from your bank sounds simple. Log in, pick a currency, choose an amount, and pick it up at the branch a few days later. In practice, the process raises a lot of small questions the website doesn’t answer clearly. How far ahead do you need to order? What’s the actual exchange rate you’re getting? Can someone else pick it up if you can’t make it in?

This guide breaks down how to order foreign currency through RBC, what to expect in terms of fees and rates, and when a cash order actually makes sense compared to other ways of paying abroad.

What you need before you order foreign currency through RBC

Eligibility, account requirements, and daily order limits

To order foreign currency through RBC, you need an active RBC personal banking account. The funds come from your chequing or savings account. If you’re not an RBC client, you can still purchase foreign currency at a branch in person, but the online ordering option won’t be available to you.

A few practical points to keep in mind:

Your order cannot exceed the available balance in your linked Canadian dollar (CAD) account.
Daily transfer and purchase limits set by RBC apply. For larger amounts, you may need to call your branch or visit in person.
Orders are paid in CAD and converted at the rate offered by RBC at the time of order confirmation.
Some less common currencies require a branch visit.

If you hold a U.S. dollar (USD) account at RBC, you can exchange between your CAD and USD accounts directly, which is a separate process from ordering physical cash. For ongoing cross-border banking needs, RBC’s cross-border banking setup is worth understanding first.

How far in advance to order (lead times by currency type)

Major currencies like USD, the euro (EUR), and the British pound (GBP) are typically available within a few business days. Less common currencies, like the Thai baht or the South African rand, can take longer because branches don’t keep them in stock.

A reasonable rule of thumb:

Major currencies (USD, EUR, GBP): 2 to 5 business days
Mid-tier currencies (Australian dollar, Japanese yen, Mexican peso): 3 to 7 business days
Exotic or low-volume currencies: 7 to 10+ business days, sometimes with a minimum order amount

If you’re traveling within a week, call your local branch directly to confirm timing. Holiday seasons, especially around March break and December, run longer lead times across the board.

How to order foreign currency through RBC online banking and the mobile app

Ordering through RBC online banking (desktop)

Sign in to RBC Online Banking with your client card number and password.
From the main menu, select Banking, then Order Foreign Cash.
Choose the currency you want from the drop-down list. Available currencies will appear with current rates.
Enter the amount you want in the foreign currency. RBC will calculate the CAD cost based on its current exchange rate.
Select the RBC account you want the funds withdrawn from.
Choose your pickup branch. RBC will show you the closest branches that handle foreign currency orders.
Review the order summary, including the locked-in exchange rate and the CAD total.
Confirm the order. You’ll receive an email confirmation with your reference number and expected pickup date.

The rate you see in the order summary is the rate that gets locked in when you confirm, not the rate you saw when you started. If the screen sits idle for a few minutes, refresh before confirming.

Ordering through the RBC mobile app

The mobile app process mirrors the desktop flow, with one extra tap to get to the right menu:

Open the RBC Mobile app and sign in.
Tap the More menu at the bottom right of the screen.
Scroll to Banking Services and select Order Foreign Cash.
Follow the same steps as the desktop: pick a currency, enter the amount, choose the source account, select a pickup branch, and confirm.

Exchange rates and lead times are the same on both surfaces.

What to do if the option isn’t visible or an error appears

If you don’t see the Order Foreign Cash option, a few things may be going on:

Your account type may not be eligible (e.g., some student or basic accounts have limited services).
The currency you want may not be available for online order in your region.
RBC’s system may be down for maintenance, which often happens overnight or on Sunday mornings.

For order-specific questions, your local branch is faster than the general support line.

Understanding RBC’s foreign currency fees, rates, and pickup process

Fees, exchange rates, and when your rate gets locked in

When you order foreign currency through RBC, the exchange rate already includes the bank’s margin. Most Canadian banks, including RBC, embed a markup of roughly 2.5% to 3.5% above the mid-market rate (the real rate published by the Bank of Canada) on retail foreign exchange.

In practical terms:

If the mid-market rate for CAD to USD is 1.3500, RBC might offer 1.3900 on a cash order.
On a $2,000 USD order, that 3% spread costs you roughly $80 CAD compared to the mid-market rate.
The rate locks in when you confirm. Once locked, it doesn’t change even if the market moves before pickup.

It’s not a line item, and it’s not labeled “fee.” You’d only catch it by comparing what you paid against the rate on a financial news site that day.

KnightsbridgeFX, a Canadian-based foreign exchange specialist, prices closer to the mid-market rate and discloses what you’re paying upfront, instead of embedding a wide margin in the rate.

Picking up your order: what to bring, who can collect, and how to cancel

When your order is ready, RBC will send an email or in-app notification. Pickup is straightforward, but there are a few rules to know:

Bring government-issued photo ID. A driver’s license or passport works. RBC will verify your identity before handing over the cash.
The person who placed the order is generally expected to pick it up. If you can’t collect it yourself, contact your branch ahead of time to ask whether a third-party pickup is possible and what documentation they’ll need.
Pickup windows vary by branch. Most branches hold orders for up to 30 days. After that, the order may be returned, and you’ll receive a refund in CAD at the rate on the day the order is reversed, which can result in a small loss if the market has moved.
Cancellation policies vary. If you cancel before the order is processed, you typically get a full CAD refund. If you cancel after RBC has converted the funds, you may be refunded at the buyback rate, not the rate you locked in.

Always confirm with your specific branch before assuming a policy.

Is ordering cash through RBC the right move? A quick comparison

RBC foreign cash order vs. ATM withdrawal vs. credit card vs. money transfer

The right choice depends on how much you’re moving, how you’ll use it, and how much you care about the exchange rate.

RBC foreign cash order. Best for travelers who want a small amount of cash before leaving Canada. Convenient and predictable, but the exchange rate includes a 2.5% to 3.5% bank margin. Good for $200 to $1,000 in walking-around money.
ATM withdrawal abroad. Typically uses the network exchange rate (Visa or Mastercard rate), which is closer to mid-market than a bank cash order. ATM operator fees and your bank’s foreign withdrawal fees often combine to add 3% to 5% per withdrawal. Best for small, infrequent cash needs while abroad.
Credit card purchases abroad. Most Canadian credit cards charge a 2.5% foreign transaction fee on top of the network exchange rate. A few specialty cards waive this fee entirely. Best for hotels, flights, and large purchases where credit card protection matters.
Specialized money transfer (e.g., KnightsbridgeFX). Best for amounts above $1,000, especially for recurring cross-border payments, property purchases, or seasonal living abroad. Offers exchange rates closer to mid-market with transparent pricing. Funds move from bank account to bank account, so physical cash isn’t involved.

For larger amounts, you’ll keep more of your money with a credit card or a dedicated foreign exchange provider.

Making the most of your RBC foreign currency order

A few habits make the cash-order process smoother and less expensive.

Order early. Lead times spike during peak travel seasons. Two weeks ahead is safer than two days.
Order common denominations. RBC will usually default to a mix of bills. If you want smaller denominations (useful for tips and small purchases), ask the branch when placing the order or at pickup.
Track the rate before you order. Watching the CAD/USD or CAD/EUR rate for a few days gives you a sense of whether you’re ordering at a strong or weak moment. The Bank of Canada publishes the daily exchange rate benchmark as a free reference point.
Avoid peak-demand timing. Demand spikes around March break, July, and December. Lead times are longer, and small currencies can run out.
Only order what you’ll actually use in cash. Anything you can put on a no-foreign-transaction-fee credit card or pay through a transfer service typically costs less.

For larger personal expenses like snowbird stays or recurring cross-border payments, our breakdown of Canadian bank exchange rates covers how RBC compares against the other big banks.

It’s time to get more from your foreign currency exchange

Ordering foreign currency from RBC is reasonable when you need cash in hand before a trip. The process is well-organized, the rate locks in at confirmation, and pickup is straightforward as long as you bring your ID and stay inside the pickup window. But the convenience comes with a 2.5% to 3.5% exchange rate margin most customers never see.

For larger personal expenses, a different approach saves real money. KnightsbridgeFX is a Canadian-based foreign exchange specialist, registered with FINTRAC and trusted by over 150,000 Canadians since 2009. The company has an A+ rating with the Better Business Bureau and was featured on Dragons’ Den, where it received offers from multiple Dragons. The model is simple: better rates than the banks, no hidden fees, and bank-to-bank transfers handled by real people on the phone, chat, or email.

Frequently asked questions about RBC foreign currency orders

Can you order foreign currency at RBC without an RBC account?

You can purchase foreign currency at an RBC branch in person without being a client, but the online and mobile app ordering features require an active RBC account. Non-clients should call ahead to confirm currency availability and any limits on the amount they can buy. Exchange rates and lead times for in-person purchases follow the same structure as online orders.

What happens if you don’t pick up your foreign currency order?

If you don’t pick up your order within RBC’s holding window (typically 30 days from when the cash arrives at the branch), the order is reversed. Your CAD funds are refunded at the buyback rate on the day of reversal, not the rate you originally locked in. If the exchange rate has moved against you, this can mean receiving slightly less than you originally paid.

Can you request specific bill denominations when ordering foreign cash through RBC?

You can usually request specific denominations, but availability depends on what your pickup branch has in stock. Smaller bills like USD $20s and $50s are common, and USD $100s are also widely available. For tipping or small purchases, ask at the time of order or during pickup for a mix that includes smaller denominations.