RBC Capital Markets, LLC SWIFT/BIC code

SWIFT/BIC code of RBC Capital Markets, LLC

Whether a recipient gives you RCMCUS31 or RCMCUS31XXX, it is the same identifier for RBC Capital Markets, LLC in United States. A SWIFT code shows every bank in the chain exactly which bank should receive the money, a bit like a postal address for banks. You will need it mainly for transfers between countries and payments in foreign currencies.

Further down we go through the practical questions: money coming in from abroad, sending money abroad and how to verify the code before you confirm a payment. Keep in mind that the BIC only identifies the bank, not the person: the IBAN or account number takes care of that.

RBC Capital Markets, LLC: head office code versus branch codes

With 2 codes, RBC Capital Markets, LLC belongs to the banks that use individual codes for parts of the organisation. The head office code is RCMCUS31XXX.

For most incoming transfers, the head office code RCMCUS31XXX is the right choice. When you receive a specific code, use it as it is instead of replacing it for the head office code.

When in doubt, ask the person you are paying for the exact BIC in their bank details. Codes for branches are more prone to change than the head office code when a bank merges or closes offices.

8 or 11 characters: RCMCUS31 versus RCMCUS31XXX

The structure of a BIC is always the same: a bank code of four letters, two for the country and a two-character location code, plus an optional branch code. That gives you RCMCUS31, the short form of the code.

Most banks and apps accept both lengths. If a form asks for eleven characters, use RCMCUS31XXX.

In practice the code is typed in capitals. A single character may route a payment to another bank.

When will the money arrive at RBC Capital Markets, LLC?

An international transfer usually takes anywhere from one to several business days, depending on the currency, the route and the banks involved. Transfers sent after the cut-off time or on weekends and holidays usually go out the next business day. Occasionally a bank asks what the payment is for before releasing it.

If the money is late, ask the sending bank about the tracking status or the UETR so they can trace it along the chain. Money transfer services usually show tracking online so you can see where the payment is.

If a payment has not arrived after a few business days, the person who paid should start with the bank that sent it. As a recipient, it helps to check your account for a slightly lower amount, since fees may have been deducted.

What to give a sender who pays you at RBC Capital Markets, LLC

When you are waiting for money from abroad, give the sender a complete set of details. In practice that means: your name exactly as it appears on the account, your account number or IBAN, the SWIFT/BIC code RCMCUS31XXX (or RCMCUS31) and, often, your address.

The sender’s bank might request the bank address of RBC Capital Markets, LLC; the head office in New York,ny is usually fine. A typo in your account number can be more trouble than you might think; copy them from your banking app rather than typing.

Expect that the incoming amount is smaller than what the sender paid. Intermediary banks may deduct a fee, RBC Capital Markets, LLC may charge for incoming payments, and when currencies differ, a markup on the rate applies. On invoices, you can state how the fees are split to avoid a shortfall.

What a transfer from RBC Capital Markets, LLC abroad really costs

What you pay for an international transfer has more than one component. There is the transfer fee, possibly charges from correspondent banks along the way and, most importantly, the exchange rate markup when the money is converted.

Banks rarely show their exchange rate markup as a cost – you only notice it if you compare. Check their rate against the mid-market rate – the rate you find on financial news sites.

Specialist money transfer services often use rates closer to the mid-market rate with clearer fees. On GoldexPay we compare what recipients receive with different providers, which makes the cheapest option easy to spot. Choosing a specialist does not mean closing your account at RBC Capital Markets, LLC.

US Dollar (USD) and conversion costs

The local currency in United States is the US Dollar (USD). When you pay another currency it has to be converted at some point. There is rarely a separate line for that conversion – the cost sits in the rate.

Who converts the payment makes a difference, because each party uses its own rate. Compare what USD arrives via different services before choosing one.

The USD rate changes throughout the day, so the amount you see is usually only valid for a short time. With bigger transfers, even small difference in the rate adds up quickly.

A note on our data

We gather bank codes from public sources and check our list regularly. Institutions merge, close branches and change codes, and a directory never catches every change immediately. Counts and locations are from our directory and may differ from what RBC Capital Markets, LLC publishes.

For any payment of any size, confirm the BIC with RBC Capital Markets, LLC or with the recipient. GoldexPay is not affiliated with RBC Capital Markets, LLC. Spotted an error? Tell us via our contact form so we can correct it.

Before you send: check the RBC Capital Markets, LLC code

Have the recipient send you the bank details straight from a recent statement. If the code you have does not match RCMCUS31 or RCMCUS31XXX, stop and ask.

An incorrect BIC may lead to a delay, a payment being sent back or extra fees along the way. A mistake in the IBAN or account number can be a bigger problem, because the money may be credited to someone else.

Many banking apps check the format of IBANs and sometimes look up the BIC automatically, but that does not prove the account belongs to the right person. If your bank offers it, a payee name check on the recipient adds extra certainty. When you pay someone new, many people send a small test amount before sending the rest.

Watch out for payment fraud

Fraudsters often send payment requests containing new bank details, sometimes in an email that looks completely genuine. A valid SWIFT code says nothing about who owns the account.

Before paying, verify a change of bank details through a phone call on a number you know, not one from the message. Watch out for urgent requests, unusual wording or an email address that differs by one letter. When money has already gone to a fraudster, call your bank right away.

Fraud also work the other way: someone sends too much and wants you to return the extra. A payment confirmation from the sender proves nothing; only your own account shows what has arrived.