Royal Bank of Canada SWIFT/BIC code

SWIFT/BIC code of Royal Bank of Canada

Whether a recipient gives you ROYCSGSG or ROYCSGSGXXX, you are looking at the same address for Royal Bank of Canada in Singapore. The code has a single purpose: it makes sure that money from abroad ends up at the right bank. It comes up mostly when dealing with payments that cross a border and payments in foreign currencies.

Further down we go through the practical questions: receiving money at Royal Bank of Canada, paying someone in another country and how to check a SWIFT code before you confirm a payment. Keep in mind that the BIC just identifies the bank, not the person: the account number or IBAN takes care of that.

When will the money arrive at Royal Bank of Canada?

A SWIFT payment typically needs anywhere from one to several business days. Payments made late in the day or just before a weekend or public holiday often go out a business day later. Sometimes a bank wants to know about the purpose of a payment before releasing it.

When a payment takes longer than expected, contact your bank for the status and the transaction reference so they can trace it along the chain. Keep your transfer receipt – you will need it for any trace request.

Only the sending bank is able to request a trace or a recall; the receiving side usually has nothing to trace yet. Request from the sender a copy of the payment confirmation with the date and reference; that often settles the question quickly.

Choosing between the 2 SWIFT codes of Royal Bank of Canada

With 2 codes in 1 cities, Royal Bank of Canada is one of the banks that use individual codes for parts of the organisation. The head office code remains ROYCSGSGXXX.

Usually you do not need to look up a branch: transfers addressed to ROYCSGSGXXX are routed within Royal Bank of Canada correctly. When you receive a specific code, use it as it is instead of swapping it for the head office code.

The best way is to take the code straight from the recipient’s bank details. Branch codes are sometimes changed or retired when banks reorganise, so do not rely on old paperwork.

About this information

The details on this page come from publicly available data. Institutions reorganise, close branches and retire codes – a directory can be a step behind. Figures such as the number of codes come from our directory.

For any payment that matters, always check the code with Royal Bank of Canada or with the recipient. GoldexPay is independent of Royal Bank of Canada. If you notice something that is out of date, we welcome a message via the contact page.

Sending SGD to Royal Bank of Canada

Singapore uses the Singapore Dollar, with the currency code SGD. Money sent in a different currency will be exchanged into SGD, and whoever converts it chooses the rate. Each conversion eats into the amount, even when no fee is shown.

Where the conversion happens has an effect on the final amount, as rates and margins differ per bank. Transferring the money directly in SGD often avoids a second conversion, provided the rate you get is fair.

Exchange rates change all the time. With bigger transfers, a small difference in the rate adds up quickly.

Sending money abroad from Royal Bank of Canada

The price of a payment abroad has more than one component – not just the fee on your screen. There is the transfer fee, sometimes charges from correspondent banks along the way and, most importantly, the exchange rate markup if the currency changes.

The markup on the rate tends to be the largest item. An easy check: put the bank’s rate next to the mid-market rate and work out the difference on your amount.

Specialist money transfer services often use rates closer to the mid-market rate. GoldexPay lists transfer providers side by side, showing what actually arrives for the same amount sent. You can still use your account at Royal Bank of Canada.

ROYCSGSG or ROYCSGSGXXX – which one to use?

A SWIFT code is built from fixed blocks: characters one to four identify the bank, the next two give the country and the two after that indicate the location. In this case, the 8-character core is ROYCSGSG.

XXX at the end of ROYCSGSGXXX is not a missing value or an error: it stands for the head office of Royal Bank of Canada. Some forms ask for 11 characters, and then you simply enter XXX behind ROYCSGSG.

In practice the code is written in capitals, without spaces or dashes. Look out for O versus 0 and I versus 1.

Getting paid from abroad into a Royal Bank of Canada account

A sender in another country needs several details from you – incomplete details often cause delays. In practice that means: your full name exactly as it appears on the account, your account number or IBAN, the BIC ROYCSGSGXXX (or ROYCSGSG) and sometimes your address.

Their bank might request the bank address of Royal Bank of Canada, in which case the Singapore head office is the usual answer. Check each detail before you send them – a sender rarely spots a mistake in someone else’s details.

Do not be surprised if the incoming amount is below the amount on the sender’s receipt. Correspondent banks can take a fee, Royal Bank of Canada may charge for incoming payments, and when currencies differ, a markup on the rate applies. Agree with the sender who covers the fees.

Is ROYCSGSG still correct? How to check

Have the recipient send you their account details straight from their banking app. Compare it with ROYCSGSG here.

A wrong SWIFT code may lead to a delay, a payment being sent back or additional charges along the way. An error in the IBAN or account number is a bigger problem, so check that just as carefully.

Most online banking apps check the structure of an IBAN. Where available, a name check before sending adds extra certainty. Sending a small amount first can be a sensible step for a large first payment.

Protect yourself against fake payment requests

Be wary when a contact unexpectedly wants you to send money to another account or a bank in another country. A correct SWIFT code tells you nothing about who owns the account: scammers use real codes of real banks.

Never trust a phone number in the same message that announces the change. Urgency and requests to keep it quiet are warning signs – a real supplier can wait a day. Already paid? Call the bank you paid from without delay and ask them to start a recall.

Recipients can be targeted as well: one known trick is an overpayment and then sends a request to refund the difference to another account. A screenshot of a transfer proves nothing – check your own account.