News and resources on payments systems, innovations and initiatives worldwide.
RBC jumps on Swift Go for cross-border payments

RBC jumps on Swift Go for cross-border payments

RBC has become the first Canadian bank to roll out Swift Go, enabling businesses to send cross-border near real-time low-value cross-border payments.

Launched by co-operative Swift last year, Swift Go lets users send payments quickly anywhere in the world direct from their bank accounts.

RBC has now partnered Swift, as well as JP Morgan, to help Canadian businesses send cross-border payments of up to $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.

Lisa Lansdowne-Higgins, SVP, business transformation and deposits, RBC, says: "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."

Comments: (0)