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Transferring USD from RBC to another bank
August 2, 2022
3:12 pm
albertkao9
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I have a RBC US saving account.
When I emailed RBC about transferring from my USD account to another company, I got this reply, which was different from the comments posted so far:
The US Government restricts online/electronic trading in US dollars. Any transaction in US dollars is to be monitored by RBC as part of RBC's due diligence procedures. Any transaction in US dollars must have a signature or be transferred to existing RBC accounts on your profile. This prevents ATM transactions and electronic transactions to/from the USD account unless the Canadian ATM dispenses US cash or the funds are converted to Canadian dollars.
So if you are looking to make a transfer from your USD account please attend the branch to make a wire transfer. You can also purchase a draft or take cash. Please call 3 days in advance if you are looking to make a large cash transaction.

August 2, 2022
10:21 pm
Norman1
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Personal banking clients cannot push funds in RBC Royal Bank accounts out electronically to an external account. RBC Royal Bank considers that to be a business banking service.

Does your RBC U.S. High Interest eSavings account accept US$ pre-authorized debits from other Canadian financial institutions? If so, then one could pull US$ funds out of your RBC U.S. High Interest eSavings account from EQ Bank, Tangerine Bank, or Hubert Financial.

August 3, 2022
2:51 pm
rhvic
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I have successfully pulled US$ from my RBC account to my Tangerine account (both $US). No problem doing it that way.

August 3, 2022
3:25 pm
pooreva
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NONE of the 'big banks' offers PUSH.
Only 'electronic' banks offer both push and pull of your money.

August 3, 2022
3:27 pm
Norman1
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RBC U.S. High Interest eSavings says cheques are not permitted on the savings account.

Not clear if pre-authorized debits are permitted or not.

Was the account the RBC US$ chequing account or the RBC US$ savings account?

August 3, 2022
4:04 pm
JohnnyCash
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Norman1 said
RBC U.S. High Interest eSavings says cheques are not permitted on the savings account.

Not clear if pre-authorized debits are permitted or not.

Was the account the RBC US$ chequing account or the RBC US$ savings account?  

I have the RBC High Interest eSavings account and successfully completed numerous push and pulls over the years from Tangerine without issue. Recently, I've done a successful test push from EQ, have yet to do a pull though.

August 4, 2022
4:13 am
albertkao9
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Thank you all for your comments :).
I will try pulling US$ from my RBC account.

May 18, 2023
11:59 am
bird
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I'm not in Canada and have been trying to transfer my funds from US$ HISA at RBC for months now. Tangerine can only send funds back to RBC and will not let it transfer out. RBC insists to get access to my $$ I must open an account at US RBC - which is an independent US bank and I find this requirement ridiculous. A branch assistant manager (who claimed he was the manager) wanted me to download a verification mobile app, but I don't use mobile. He also wanted me to sign 3 forms and send a copy of my passport, but never sent the forms. I even tried transferring from CA$, but they blocked that too! RBC ombuds refused to interfere and I got contract obligations to pay asap. Anyone knows a compassionate RBC banker/manager who might help with all this? Thank you

May 18, 2023
12:11 pm
HermanH
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Are you saying that you can only send funds via eLink from Tang to RBC?
You cannot pull funds from RBC back to Tang?

What about starting a USD chequing account at RBC, transfering from the USD HISA to USD chequing, and then writing a USD cheque to move the funds wherever you like?

I have a USD Savings at RBC and do not find any problem linking other banks to it via eLinks. Perhaps I do not fully understand your problem.

May 18, 2023
2:26 pm
bird
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What happened to RBC?! I'm a decades-old customer and being treated like this is appalling! Did the ownership changed?

I need to make an international transfer from RBC US HISA to pay someone else, but it's impossible online. They refused to mail a check, even to my own name, did not offer to open another RBC US account and transfer from there, even blocked my CA$ transfer when I was trying the conversion way. I don't want to open accouns at other banks just for that one transfer so if you know an RBC banker who might help, please share his name and contact, thank you

May 20, 2023
10:25 am
Norman1
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There may not be anything anyone can do while you are outside the country.

The RBC U.S. High Interest eSavings doesn't allow cheques and doesn't allow ATM access at other than RBC ATM's. No cross-border debits. Need another RBC bank account that does allow cheques.

Can't order a bank draft online or by phone. I asked a while back. RBC Royal Bank requires a branch visit to obtain a bank draft.

The RBC US Personal chequing account can only be opened online if client is living in Canada.

That account looks like a Canadian-based US$ account and not a US-based one. Consequently, the account's US$ cheques are likely drawn on a Canadian RBC branch and cannot be cleared easily outside of Canada. If one is sending US$ to someone in the US, one needs to use a cheque drawn on a bank in the US to avoid clearing hassles.

May 22, 2023
10:12 am
bird
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Thank you for that reply. The banker I talked to did not mention that solution, but thanks to the previous comment mentioning another US$ account within RBC I mentioned it to him and then he confirmed what you said and opened another account for me. Now I'm waiting for checks sent in the mail that I could use to pay anyone and even myself. He did say it will take awhile for the checks to clear- fingers crossed...This forum is awesome - thank you!

May 22, 2023
12:24 pm
Norman1
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That's good to hear!

If the RBC US Personal chequing account is indeed a Canadian-based US$ chequing account, then one can create a US$ link to the account at Hubert, EQ Bank, and Tangerine Bank using the info on the cheques. One can then pull US$ out of the account electronically.

May 24, 2023
8:13 am
bird
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Unfortunately, none of the CA banks I tried would open an account without a CA address. Even then, you must transfer the funds back to RBC to pull them out so it will back to square one...

May 25, 2023
5:46 am
Norman1
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Through EQ Bank, one can push to US$ accounts at other financial institutions:

How do I deposit or withdraw funds from my US Dollar Account?
You can transfer funds as follows: to and from your externally linked CDN or USD bank accounts held at a Canadian financial institution, to and from your Savings Plus Account, or you can also send US dollars to a US dollar bank account held in another country using our International Money Transfer service, powered by Wise.

Yes, many of the Canadian onine-only banks will only open new accounts for Canadian residents. EQ Bank also requires one to remain a Canadian resident to maintain a previously opened account:

Can I use EQ Bank if I live outside of Canada?
You can continue to access your existing account while travelling outside of Canada. However, all EQ Bank account holders must be Canadian residents in order to maintain their account.

January 10, 2024
1:45 pm
Ken B
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What about using a Wise account? This can be opened from anywhere and hold multiple currencies. Pushing from the Wise account to (almost) anywhere is possible. I've also been able to pull from my CAD RBC account to Wise easily. I'm in Canada though.

January 10, 2024
3:21 pm
smayer97
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The OP did not say if the funds were with RBC Canada or RBC US, and if the transfer is cross border or not.

If the funds are within Canada to start, you can open a RBC US account (need to maintain min $1000 balance to avoid monthly maintenance fee). Then you make the transfer cross border WITHIN RBC to the side you need to make the transfer too.

If the transfer is on the Canada side, you will need a USD account at another Canadian bank then link the accounts, after which you can make a bank-to-bank transfer. If on the US side, you can transfer the funds using ACH from the RBC US account (like Interac in Canada).

Also, from RBC US, you can issue a USD chq to transfer the funds to anywhere that accepts USD funds.

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