The service will enable businesses to send low-value cross-border payments in near real-time
Swift Go facilitates low-value cross-border payments for SMBs. Source: unsplash.com
Swift Go launch marks the latest step in RBC’s ongoing commitment to innovations in digital banking and payments.
Launched last year, the service lets users send payments quickly across the globe directly from their bank accounts. In addition, this money transfer service offers competitive and transparent pricing. Swift Go has lower processing costs compared to traditional wire services. At the same time, customers get upfront visibility into the amount, time, fees and foreign exchange rate of a payment.
With the new solution, Canadian SMEs can send cross-border payments of up to $10,000 in foreign currencies with “speed, security, predictability and efficiency”. Such low-value transactions are often initiated by businesses to pay suppliers overseas. Besides, individual consumers will also benefit from the fast and transparent service while sending money to close ones globally.
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