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RBC Express Wire Transfers: Domestic Lynx and International SWIFT

RBC Express originates same-day domestic Lynx (formerly LVTS) wires and SWIFT international wires to 180+ countries under Royal Bank of Canada's BIC ROYCCAT2. Every wire inside RBC Express is screened against OFAC and OSFI consolidated sanctions, priced at a published tier and routed through Payments Canada Lynx or the RBC correspondent network.

Finance controllers, treasurers and payment operations teams release wires inside RBC Express with dual-control approval, configurable thresholds and a 7-year audit trail aligned to OSFI record-keeping expectations. Same-day Lynx cutoff is 5:00pm ET. Same-day SWIFT cutoff is 4:30pm ET.

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RBC Express wire transfer interface showing Lynx domestic routing and SWIFT MT103 beneficiary fields with OFAC screening indicator

Lynx High-Value and SWIFT International Inside RBC Express

RBC Express consolidates domestic and international wire origination into one workflow. Lynx for Canadian high-value CAD. SWIFT for everywhere else. One approval queue, one audit trail, one sanctions engine.

Domestic Lynx Wires via RBC Express

Lynx is the successor to LVTS — Canada's Real-Time Gross Settlement system operated by Payments Canada, live since August 2021. RBC Express accepts Lynx wires for immediate, final, irrevocable settlement in central-bank money at the Bank of Canada. Typical use: real estate closings, tax remittances, intercompany funding, M&A payments, fiat-FX settlement.

Cutoff: 5:00pm ET. Minimum: no floor. Maximum: configurable per RBC Express account, commonly $25M CAD per wire without additional review. Pricing tiers inside RBC Express scale from standard to enterprise volume bands.

International SWIFT Wires via RBC Express

RBC Express sends SWIFT MT103 customer credit transfers to 180+ countries through RBC's direct correspondent relationships and the SWIFT gpi network for tracking. BIC: ROYCCAT2 (Toronto), with extensions for other RBC centres. MT202 cover payments supported for bank-to-bank treasury flows.

Cutoff: 4:30pm ET for same-day value on major corridors (USD, EUR, GBP, JPY, CHF, AUD). Minor-currency corridors (MXN, BRL, HKD, SGD) settle next business day. SWIFT gpi tracking inside RBC Express shows real-time status and confirmed credit at the beneficiary bank.

RBC Express Wire Transfer Cutoff and Settlement Matrix

Published cutoff times in Eastern Time. Applies to all RBC Express commercial clients unless an enterprise service-level agreement extends specific corridors.

Wire TypeCutoff (ET)SettlementCurrenciesRBC Express Tier
Lynx Domestic (CAD)5:00pmSame-day finalCADStandard, Enterprise
SWIFT USD to US4:30pmSame-day via FedwireUSDStandard, Premium, Enterprise
SWIFT EUR to EU/UK11:00amSame-day T2/CHAPSEUR, GBPStandard, Premium, Enterprise
SWIFT Major Currency4:30pm1 business dayJPY, CHF, AUD, HKDPremium, Enterprise
SWIFT Minor Currency3:00pm2 business daysMXN, BRL, SGD, ZARPremium, Enterprise
Cross-Border EFT to US2:00pm1-2 business daysUSDStandard, Premium

Compliance and Controls Behind Every RBC Express Wire

Every wire released through RBC Express passes real-time sanctions screening, FINTRAC reporting integration and dual-control approval.

FINTRAC EFTR and LCTR Reporting

Royal Bank of Canada is the reporting entity under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. International wires of $10,000 CAD equivalent or more trigger an Electronic Funds Transfer Report (EFTR) filed automatically with FINTRAC. RBC Express clients do not file these reports — the RBC Financial Crime Operations team handles reporting on your behalf as part of the commercial banking relationship.

Large Cash Transaction Reports (LCTRs) apply to cash-based flows; RBC Express wires settle in central-bank money and fall under EFTR rules. The 7-year retention window inside RBC Express aligns with FINTRAC record-keeping requirements.

RBC Express wire approval queue showing dual-control status and FINTRAC EFTR flag
RBC Express sanctions screening panel showing OFAC and OSFI hit-review workflow

Real-Time OFAC and OSFI Sanctions Screening

Every RBC Express wire is screened before release against OFAC SDN, the OSFI Consolidated List for Canada, UN Al-Qaida and Taliban sanctions, EU Consolidated Financial Sanctions and other applicable regimes. Fuzzy-match scoring catches transliteration variants. Potential hits hold the wire for manual review by RBC Financial Crime Operations before Lynx or SWIFT release.

Dual-control inside RBC Express separates initiator and approver. Company Administrators configure thresholds per account, currency and beneficiary type. A typical mid-market RBC Express profile: mandatory dual approval above $100,000 CAD domestic and all international wires, triple approval above $5M.

Wire Transfers: Payment Mechanics

The mechanical flow of a wire initiated inside RBC Express, from beneficiary library lookup to Lynx or SWIFT release.

Payment Mechanics

  • Initiator selects beneficiary from the RBC Express beneficiary library or creates a new beneficiary with mandatory IBAN/SWIFT/transit validation.
  • Wire template populates value date (same-day Lynx to 5:00pm ET, SWIFT to 4:30pm ET), amount, currency and purpose-of-payment code.
  • Real-time FX quote locks the rate for cross-currency wires; rate inside RBC Express is held for 120 seconds during approval.
  • Sanctions screening runs against OFAC, OSFI, UN and EU lists before the wire enters the approval queue.
  • Approver releases the wire; Lynx settles in central-bank money at Bank of Canada, SWIFT routes via ROYCCAT2 to the correspondent bank.
  • Confirmation, UETR (Unique End-to-end Transaction Reference) and gpi tracking status return to the RBC Express payment record.

People Also Ask About RBC Express Wire Transfers

What is the RBC Express Lynx wire cutoff time?
RBC Express accepts domestic Lynx (formerly LVTS) wires initiated and fully approved by 5:00pm ET for same-day settlement. Wires released after cutoff settle the next Lynx business day. Lynx does not operate on Canadian statutory holidays.
How does SWIFT international wire work in RBC Express?
RBC Express originates SWIFT MT103 customer credit transfers through Royal Bank of Canada's correspondent network under BIC ROYCCAT2. Same-day SWIFT cutoff is 4:30pm ET on major corridors. MT202 cover payments support bank-to-bank treasury flows. See international payments for corridor detail.
What is the dual-control threshold for RBC Express wires?
Company Administrators set thresholds per account. Typical Canadian commercial profile: mandatory dual approval above $100,000 CAD domestic and all international wires. Role-based access enforced through RBC Express user management.
Does RBC Express report wires to FINTRAC?
Yes. Royal Bank of Canada files Electronic Funds Transfer Reports for international wires of $10,000 CAD equivalent or more automatically. RBC Express clients do not file these reports themselves.
How are OFAC and OSFI sanctions screened on RBC Express wires?
Every RBC Express wire is screened in real-time against OFAC SDN, OSFI Consolidated List, UN and EU regimes before release. Potential matches hold the wire for manual review by RBC Financial Crime Operations.

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