RBC Launches Swift Go Cross-Border Payments to Canadian Business
(22 November 2022 – Canada) As the first bank in Canada to introduce Swift Go, the launch marks the latest step in Royal Bank of Canada’s (RBC) ongoing commitment to innovations in digital banking and payments
Swift Go will enable businesses to send cross-border near real-time low-value cross-border payments.
RBC joins The Society for Worldwide Interbank Financial Telecommunication (SWIFT) and JPMorgan to help Canadian businesses send cross-border payments of up to C$10,000 in foreign currencies with "speed, security, predictability and efficiency".
The bank says the service also offers competitive and transparent pricing, with lower processing costs compared to traditional wire services and upfront visibility into the amount, time, fees and foreign exchange rate of a payment.
"By offering cost-effective, fast and predictable cross-border payments, the introduction of Swift Go will make it easier for Canadian companies to plan their cash flow, forecast their liquidity position and do business globally" said RBC SVP, Business Transformation and Deposits, Lisa Lansdowne-Higgins.
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