RBC Royal Bank provides financial services for customers in Canada, the Caribbean and the U.S., making it a good choice for people who travel across the border frequently. Many of those people can benefit further by taking advantage of RBC promotional offers, but a surprisingly small number probably will.
A GOBankingRates survey found that a large portion of Americans choose a bank based on location and convenience. More than 75% of the participants said they don't even research banks when they're shopping around for a new one, which means they miss out on cash bonuses, fee waivers and other perks.
- Checking Account Promotions
- Credit Card Promotions
- Business Account Promotion
- Past RBC Royal Bank Promotions
- How To Open an RBC Royal Bank Account
- How Much Money Will RBC Royal Bank Give You for Opening an Account?
Before you take a closer look at the available RBC Royal bonuses and offers, check out the highlights for the month. Note that some bonuses are in Canadian dollars, designated as CAD. Here's a quick overview:
|Best RBC Royal Bank Promotions: August 2020|
|Account||Cash Value of Bonus||Expiration Date|
|Cross-Border Banking Bundle||$100||Oct. 31|
|RBC Newcomer Advantage||Up to CA$600 value||Oct. 31|
|RBC Avion Visa Infinite||$350 value||None|
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The current RBC Royal Bank bonuses and offers include incentives such as fee waivers and complimentary services that can add up to big savings. You can also maximize credit card rewards points to use for traveling. Keep reading to learn more.
RBC Royal Bank's checking account bonuses are designed to help keep your costs down, which adds up to more money in your pocket. Read on for more details.
This bundle makes it easy to open RBC accounts on both sides of the border so you can bank in both Canadian and U.S. dollars. You'll get free, unlimited CAD/USD currency exchanges and transfers between your RBC accounts in both countries.
The accounts ordinarily come with annual fees, but this promotion waives those fees for the first year, which amounts to savings of up to $100 across the accounts. Here's more:
- Cash value: $100
- Minimum deposit to qualify: N/A
- Expiration date: Oct. 31
- How to get it: Open an RBC Royal Bank Direct U.S. checking account, an RBC Day to Day Banking Canadian account and an RBC credit card to earn the savings.
- When you'll get it: Once you meet the account and card-opening requirements
- Terms and conditions: You can apply for the RBC Bank Cross-Border Banking Bundle in person at an RBC Royal Bank Branch in Canada or by calling 800-769-2553. You'll have to be approved for the credit card.
- Monthly fee: $0 by meeting the requirements.
- Promotion page: Cross-Border Banking Bundle bonus offer
If you've recently moved to Canada, some RBC Royal Bank offers are exclusively for you. With the RBC Newcomer Advantage package, you get up to 600 Canadian dollars in savings during your first year with the bank.
The monthly fee for your checking account is waived for a year, plus you get a Visa credit card (even if you don't have a credit history), complimentary international money transfers and a free safe deposit box. Here's how to qualify:
- Cash value: Up to CA$600
- Availability: This offer is only available to individuals who moved to Canada within the last five years.
- Minimum deposit to qualify: $0 for RBC No Limit Banking and $10,000 CAD for RBC VIP Banking.
- Expiration date: Oct. 31
- How to get it: Visit a banking center to apply for the program and open the required accounts.
- When you'll get it: After meeting the program requirements
- Terms and conditions: This offer is not available online. You must set up an appointment at a banking center and provide documents that confirm your entry into Canada. No RBC Royal Bank coupon code is required.
- Monthly fee: $0 the first year; after that, $10.95 CAD for RBC No Limit Banking and $30 CAD for RBC VIP Banking.
- Promotion page: RBC Newcomer Advantage bonus offer
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There's no RBC Royal Bank savings account bonus this month, but the bank does have a credit card bonus. Read on to learn more.
When you sign up for the RBC Avion Visa Infinite credit card you can start enjoying the perks immediately. New cardholders earn 15,000 bonus points as soon as they're approved for the card. That's enough to pay for a $350 plane ticket.
Plus, you get extra perks like no blackout dates or seat restrictions, as well as savings on fuel at designated gas stations. No RBC Royal coupons are required for this deal. Here are the details:
- Cash value: CA$350
- Minimum spend to qualify: N/A
- Expiration date: None
- How to get it: Apply and get approved for the Visa card.
- When you'll get it: The welcome points appear on the first account statement.
- Terms and conditions: The Avion Visa Infinite credit card requires a minimum annual personal income of $60,000 or a minimum annual household income of $100,000.
- Annual fee: $120
- Promotion page: RBC Avion Visa Infinite bonus offer
RBC Royal Bank's RBC Offers program lets you load personalized offers to your RBC debit card so you can earn discounts and bonus points on products and services tailored to businesses. With this program, you'll receive offers from brands such as ADP, Telus and Geek Squad.
To access the offers, sign in to online banking and click on "Offers for You" in the top menu. Browse and load the offers you want, then pay for your purchase with an RBC Royal Bank debit card.
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If none of RBC Royal Bank's current offers are right for you, it's useful to check its past promotions to find out what might come back up in the future. In one recent promotion, the bank gave a set of Apple AirPods to customers who opened select checking accounts.
Here are the details:
- Cash value: $159
- Expiration date: Expired
- How to get it: For this promotion, you had to open one of the three eligible checking accounts and do two of the following: receive your paycheck as a direct deposit, set up two preauthorized monthly payments, or make two bill payments to a service provider.
The WestJet RBC World Elite Mastercard is a premium credit card with plenty of perks for credit card users who like to fly. You can earn up to 2% cash back for purchases you make with the card, which you can then use to pay for airfare and vacation packages.
New cardholders were able to get 250 WestJet Dollars when they opened an account and an additional 100 WestJet Dollars after making the first purchase. Here's how they qualified for this offer:
- Cash value: CA$350
- Expiration date: Expired
- How to get it: Apply and get approved for a new WestJet RBC World Elite Mastercard account before June 30 and then make your first purchase within 90 days.
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There are several ways to open an RBC account, including at a branch, online and over the phone. The method you choose depends on the type of account you want.
For example, you can open an RBC No Limit checking account online, but if you want to take advantage of the Newcomer Advantage package, you'll have to visit a branch.
To open an RBC Royal Bank account online, follow these steps:
- Go to the RBC website, locate the account you want and click the sign-up button on the page.
- Follow the prompts to complete the application.
Alternatively, you can visit an RBC branch in Canada or call 800-769-2511 toll-free from the U.S. or Canada to speak with a banking specialist.
Everything You Need To Know: How To Open a Bank Account Online
You can save or earn hundreds of dollars by opening certain RBC Royal Bank accounts that let you waive fees or rack up bonus points. RBC might be worth switching to if you travel frequently between the U.S. and Canada.
Just keep in mind that a couple of the August offers require good credit scores to qualify for a credit card. If you don't meet that requirement and don't see any other value in the bank, you're probably better off looking elsewhere.
This content is not provided by RBC Royal Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by RBC Royal Bank.
This article has been updated with additional reporting since its original publication.