Royal Bank of Scotland review

Founded in 1727 and based in Edinburgh, UK, Royal Bank of Scotland is a high-street bank. Royal Bank of Scotland is authorised and regulated by FCA, PRA, which means customer money is safeguarded separately from company funds.

On the fee side, expect £15-£25 per international payment, but the bigger cost is usually the exchange-rate markup of 2.5% - 4% above mid-market, which is built into the rate rather than shown as a line item. Transfers run from a minimum of $1 up to $25,000 per transaction. In our own rate collection, across the 17 corridors we track for Royal Bank of Scotland, its exchange rate has averaged 2.21% from the mid-market rate.

Delivery speed is quoted at 2-5 business days, and the service reaches 200+ countries across 25+ currencies. You can fund a transfer by Bank Transfer, with money delivered via Bank Deposit. The mix of funding and payout options is a good guide to which corridors Royal Bank of Scotland handles best.

On the plus side: trusted uk bank with long history, send from existing account and part of natwest group. That makes it a sensible choice for existing customers who value keeping the transfer inside their own bank. Worth keeping in mind: high transfer fees (£15-£25) and poor exchange rate markup.