Curious if you’re getting the best exchange rate with RBC? Before you make your next currency exchange, see how much more you could keep with KnightsbridgeFX. It’s time to compare and save!
Use the currency calculator to see how much more you could receive by choosing KnightsbridgeFX instead of RBC.
The Royal Bank of Canada (RBC) — one of the country’s largest financial institutions — provides foreign exchange services for both personal and business clients. RBC allows you to convert Canadian dollars (CAD) into popular local currency options such as:
U.S. Dollar (USD)
Euro (EUR)
British Pound (GBP)
Australian Dollar (AUD)
And more
Here’s a snapshot of historical RBC exchange rates:
Currency
Buying Rate (CAD to Foreign)
Selling Rate (Foreign to CAD)
USD (US Dollar)
1.35100
0.74019
EUR (Euro)
1.55740
0.64210
GBP (British Pound)
1.79920
0.55580
AUD (Aussie Dollar)
0.97700
1.02354
However, the exchange rates RBC offers are retail rates, meaning they include a markup above the real (mid-market) rate — which can cost you hundreds of dollars more on large transfers.
Note: These are historical rates for illustration only. Actual exchange rates change frequently based on the market.
How Much Does RBC Charge on Foreign Exchange?
RBC typically applies a 2.5% to 3.0% markup over the mid-market rate. This markup represents the bank’s profit on the transaction — and it adds up quickly, especially for high-value exchanges.
Example:
If you exchange $10,000 CAD to USD through RBC with a 2.6% markup, you could be paying $230 more than necessary — not including potential transfer fees that may apply depending on your bank account type or transfer method.
How Does RBC Compare to Other Banks?
While RBC is a reputable bank, its foreign exchange markup typically ranges from 2.5% to 3.5%, depending on the currency and amount. For comparison, here’s a look at bank markups and potential savings when converting $10,000:
KnightsbridgeFX offers exchange rates with markups as low as 0.5%, which can save you hundreds on large transactions or with every international money transfer.
Is RBC the Best Way to Transfer Money?
While RBC is trusted and convenient for Canadians abroad, they are not your best bet for foreign exchange.
Banks typically:
Offer marked-up exchange rates
Charge hidden fees within the rate
Don’t disclose true costs upfront
At KnightsbridgeFX, we keep it simple — you get the real exchange rate, with transparent fees and better value for your dollar.
Why KnightsbridgeFX Is the Smarter Choice
While RBC is trusted, it may not be your best option when it comes to currency conversion — especially for larger transfers.
With KnightsbridgeFX, you get:
Better Exchange Rates Save hundreds on large transfers.
No Hidden Fees Transparent pricing with no unexpected transfer fees.
Fast Transactions Same or next-day delivery within standard business days.
1-on-1 Service Work with a dedicated currency expert.
We specialize in high-volume foreign exchange, perfect for:
Buying property in the U.S.
Cross-border business operations
Send money to pay U.S. tuition fees
Transferring investments from savings accounts
The bigger the transaction, the more you save. Whether you send funds via online banking or our platform, we ensure your money goes further—even during market fluctuations.
Here's how you can get the best exchange rate in Canada and save money
AUD
CAD
EUR
GBP
NZD
USD
AUD
CAD
EUR
GBP
NZD
USD
