Newest RBC Royal Bank Promotions: Best Offers, Coupons and Bonuses May 2020

RBC Bank has promotions for dual-country banking convenience.

RBC Royal Bank, formally known as Royal Bank of Canada, provides financial services for customers in Canada 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.

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.

You don’t have to choose between lucrative cash bonuses and a convenient location. Take a look at RBC promotions for May 2020 and see which ones might make a good fit:

RBC Royal Bank Promotions at a Glance

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 Bank Promotions: May 2020
AccountCash Value of BonusExpiration Date
Cross-Border Banking BundleUp to $100Oct. 31
WestJet RBC World Elite Mastercard$350 (CAD)June 30
RBC Avion Visa Infinite Credit Card$350None
RBC Newcomer AdvantageUp to $600 (CAD)Oct. 31

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Current RBC Royal Bank Promotions

The current RBC 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.

Cross-Border Banking Bundle: Up to $100 Value

It’s easy to open RBC accounts on both sides of the border that let you 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: Up to $100
  • Minimum deposit to qualify: N/A
  • Expiration date: Oct. 31, 2020
  • 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: 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.
  • Monthly fees: $0 by meeting the requirements
  • Promotion page: Cross-Border Banking Bundle No Annual Fee Promotion

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WestJet RBC World Elite Mastercard: $350 Value (CAD)

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 can currently get 250 WestJet Dollars when they open an account and an additional 100 after making the first purchase.  Here’s how to qualify for this offer:

  • Cash value: $350 CAD
  • Minimum spend to qualify: $0
  • Expiration date: June 30, 2020
  • How to get it: Apply and get approved for a new WestJet RBC World Elite Mastercard account before June 30, 2020, and then make your first purchase within 90 days.
  • When you’ll get it: The bonus points will be credited to your account within six weeks after the first transaction posts.
  • Terms and conditions: You must have an annual income of at least $80,000 to qualify for this account.
  • Annual fee: $119
  • Promotion page: WestJet RBC World Elite Mastercard bonus offer

RBC Avion Visa Infinite Credit Card: $350 Value

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 and savings on fuel. Best of all, there are no RBC Royal coupons required for this deal. Here are the details:

  • Cash value: $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 individual income of $60,000 per year or a minimum annual household income of $100,000.
  • Annual fees: $120
  • Promotion page: RBC Avion Visa Infinite Card bonus offer

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RBC Newcomer Advantage: Up To $600 Value (CAD)

If you’ve recently moved to Canada, some RBC Bank offers are exclusively for you. With the RBC Newcomer Advantage packing, you get up to $600 CAD 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:

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  • Cash value: Up to $600 CAD
  • Availability: This offer is only available to individuals who moved to Canada within the last five years.
  • Minimum spend to qualify: $0 for RBC No Limit Banking and $10,000 CAD for RBC VIP Banking
  • Expiration date: Oct. 31, 2020
  • 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.
  • 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

See More: Best Travel Credit Cards

Past RBC Royal Bank Promotions, Coupons and Offers

RBC promotions sometimes include non-cash incentives. In one recent promotion, the bank gave a set of Apple AirPods to customers who opened select checking accounts. Knowing the types of promotions banks offered in the past can be helpful when you’re choosing a new bank. Here are the details on a recently expired RBC Bank offer:

  • Cash value: $159
  • Expiration date: Expired
  • How to get it: You had to open one of the three eligible checking accounts by April 30, 2020, 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.

Check Out: 5 VIP Private Banking Services You Never Knew Existed

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How To Open an RBC Royal Account

There are several ways you can 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:

  1. Go to the RBC website, locate the account you want and click the sign-up button on the page.
  2. Follow the prompts to complete the application.

Alternatively, you can visit an RBC branch in Canada or call 800-769-2561 toll-free from the U.S. or Canada to speak with a banking specialist.

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Are RBC Royal Bank Promotions Worth the Switch?

It’s great to take advantage of promotional offers, but you also want the banking product to be a good fit that won’t weigh you down with excessive fees. 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 offers for May require a minimum income to qualify. If you don’t meet that requirement and don’t see any other value in the bank, you’re probably better off looking elsewhere.

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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.

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