Newest RBC Royal Bank Promotions, Bonuses, Offers and Coupons: September 2021

RBC Bank promotions

RBC Royal Bank may be one of the largest banks in Canada, but it also serves customers in the Caribbean and the U.S. If you frequently travel between these countries, you may want to check out the latest RBC Royal Bank promotions.

Like many banks, RBC Royal Bank offers bonuses to new customers. Banks want your business and are willing to pay you to open an account and use their services. You can potentially make hundreds to boost your savings, which can be particularly helpful during the current economic dip.

These promotions were selected because they’re lucrative bonuses and come with some extra perks. If you can meet the requirements to earn them, you can score some extra cash — no RBC Royal Bank coupons required.

RBC Royal Checking Account Offer: Up To $300 Bonus

There are currently three RBC Royal checking accounts that come with the opportunity to earn a bonus. Choose from Advantage Banking, Signature No Limit Banking or VIP Banking, complete the qualifying activities and you’ll be on your way to some free cash. Get the details below.

More From Your Money
  • Cash value: Up To CA$300
  • Minimum deposit to qualify: Not specified
  • Expiration date: Sept. 30, 2021
  • How to get it: Open a new personal checking account — Advantage Banking, Signature No Limit Banking or VIP Banking are all eligible — online through the offer page. Then, complete two of the following qualifying activities by Nov. 30, 2021:
    1. Set up your payroll or pension as a recurring direct deposit
    2. Set up at least two pre-authorized monthly payments to a service provider like a utility bill or gym membership or a payment to an RBC Royal mortgage, loan, credit line or investment account; 3) set up at least two online bill payments through online or mobile banking.
    3. Once you’ve completed two of the three qualifying activities, Advantage Banking gets a $100 bonus while Signature No Limit Banking and VIP Banking get $300.
  • When you’ll get it: Between 2 and 10 weeks after completing the qualifying activities
  • Terms and conditions: This offer is available to eligible personal banking customers without an existing RBC Royal personal checking account at the start of the offer and who have not held an RBC Royal personal checking account within the past five years. Only one bonus is available per client and your account must remain open and the recurring activities set up during the qualifying period must remain in effect for at least 365 days from the offer end date. 
  • Monthly fees: The monthly fees for each eligible checking account are as follows:
    • RBC Advantage Banking: $11.95, but there are ways to reduce or eliminate the fee by enrolling in the Value Program Rebate or if the account holder is a senior or a student
    • RBC Signature No Limit Banking: $15.95, with ways to reduce the fee by enrolling in the Value Program Rebate or if the account holder is a senior (65 or older)
    • RBC VIP Banking: $30, which can be reduced by enrollment in the Value Program Rebate or for senior account holders
  • Promotion page: RBC Bank checking offer

RBC Royal Student Bank Account Offer: $60 Bonus

For students who open an RBC Advantage Banking account, a $60 bonus is on the table just for using your new account. An RBC Advantage Banking account for students comes with no monthly fee for full-time students, unlimited debit transactions in Canada and your first 50 checks free, among other features. Students aged 13 and up are eligible for the account and bonus, as are international students. For younger savers aged 0-12 years, check out the $25 bonus currently available for opening an RBC Leo’s Young Savers Account through Nov. 1, 2021.

  • Cash value: CA$60
  • Minimum deposit to qualify: N/A
  • Expiration date: Nov. 1, 2021
  • How to get it: Open a new RBC Advantage Banking account for students through the offer page before the Nov. 1 expiration date deadline. Then, complete at least two of the following transactions before Dec. 31, 2021 to qualify for the bonus:
    • Mobile check deposit via the RBC app
    • Interac e-transfer using online banking or via the app
    • An eligible online or in-store purchase with your debit card or linked mobile payment account
  • When you’ll get it: Within 2 to 8 weeks of meeting the qualifying criteria
  • Terms and conditions: Must not have held an RBC personal banking account in the three years up to and including the opening date of the promotion, Aug. 4, 2021. To be considered a full-time student, you must be a student at a primary or secondary school or be enrolled in a post-secondary program at a college, university or other institution and taking at least 60% of a usual course load for the program.
  • Monthly fees: None
  • Promotion page: RBC Advantage Banking account for students offer

More From Your Money

RBC Cross-Border Banking Bundle: No Annual Fees for a Year ($60 Value)

Canadians who frequently visit the U.S. could benefit from this offer for cross-border banking, which waives the fee on RBC’s Direct Checking account when opened alongside an accompanying no-annual-fee credit card.

  • Cash value: $60
  • Minimum deposit to qualify: $50
  • Expiration date: Oct. 31, 2021
  • How to get it: Open a new Direct Checking account and apply for a Visa Signature Black credit card as a bundle through the online offer page to get the monthly fee waived on the checking account and no annual fee plus introductory 0% APR for six months on the credit card.
  • When you’ll get it: Upon opening the bank account and being approved for the credit card
  • Terms and conditions: The offer is available only to new clients who haven’t had an RBC Bank U.S. checking account in the last 18 months.
  • Promotion page: RBC Cross-Border Banking Bundle offer

RBC Newcomer Advantage: Up To CA$650 Value

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 $650 Canadian in savings during your first year with the bank. Here’s how to qualify:

  • Cash value: Up to CA$650
  • Availability: This offer is only available to individuals who moved to Canada within the last five years.
  • Minimum deposit to qualify: $0 for RBC Advantage Banking and $10,000 CAD for RBC VIP Banking
  • Expiration date: Oct. 31, 2021
  • How to get it: You’ll get a year of waived monthly fees ($120 value) by opening a qualifying RBC Advantage checking account. Next, open an RBC Rewards credit card to earn up to 6,000 bonus points, a $60 value. The rest of the bonus comes from the money you save on 24 free international money transfers and a free safe deposit box. Plus, RBC is currently offering an additional $100 cash bonus if you open your account by Aug. 31, 2021 and complete the qualifying activities by Nov. 30, 2021. See the offer page for full details.
  • When you’ll get it: After meeting the program requirements
  • Terms and conditions: Offer 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, $11.95 CAD for RBC Advantage Banking
  • Promotion page: RBC Newcomer Advantage bonus offer

RBC Royal Switch Your Mortgage Offer: Up To CA$2,000 Bonus

Switch your mortgage to RBC Royal and you could earn up to $2,000 cash back, depending on the amount financed. They’ll also pay your switch fees like the processing fee, discharge fee and title insurance fee, an added value of up to $1,100.

  • Cash value: Up to $2,000 CAD
  • Minimum mortgage to qualify: $500,000 
  • Expiration date: Oct. 31, 2021
  • How to get it: To earn the cash back, your mortgage must have an interest rate commitment dated between July 7, 2021 and Oct. 31, 2021 and must be funded within 120 days of the interest commitment start date (last date to fund: Feb. 28, 2022). The mortgage must have a principal of $500,000 or more and be a closed mortgage with a four year or greater fixed interest rate or five-year variable rate term. You’ll also need to have or open an RBC Royal Canadian dollar personal banking account in order to receive the bonus funds. The bonus terms are as follows (amounts in Canadian dollars):
    • Mortgages of $500,000-$749,999.99: $1,000
    • Mortgages of $750,000+: $2,000
  • When you’ll get it: Within four weeks after the mortgage fund date
  • Terms and conditions: This bonus is available for mortgages switched to RBC from another financial institution, not new mortgages, and the offer is not available for construction draw mortgages or for any amendment to an existing mortgage with RBC. Limit to one bonus per mortgage switched in. More terms and conditions apply– see offer page for details.
  • Monthly fees: Checking account fees for the bank range from $4 for Day to Day banking up to $30 for RBC VIP Banking.
  • Promotion page: RBC Royal Switch Your Mortgage offer

    RBC Mortgage With No Origination Fee: Up To $825 Value

    Alternatively, if you’re a Canadian resident who’s interested in purchasing a property in the U.S., RBC is offering no underwriting fees for new mortgages if you complete the application by the deadline. Additionally, if you’re buying, selling or doing both, check out their RBC U.S. HomePlus Rewards program, which can get you an additional cash bonus of up to $6,500 when buying (albeit for a $1.5 million-plus property), doubled if you both buy and sell.

    • Cash value: Up to $825
    • Minimum deposit to qualify: N/A
    • Expiration date: Nov. 30, 2021
    • How to get it: Complete a mortgage application through the bank by the deadline to qualify for the $0 origination fee. The mortgage must fund within 120 days of the application.
    • When you’ll get it: Not specified
    • Terms and conditions: Can be applied to new RBC Bank mortgages, investment properties or refinances for homes owned free and clear.
    • Monthly fee: N/A
    • Promotion page: RBC mortgage offer

    RBC Avion Credit Card: 35,000 Bonus Points (Up To $750 Value)

    Travel is beginning to come back in a big way, and you may want to start amassing points now. RBC’s Avion line of travel rewards cards offers multiple ways to earn points and save on travel expenses like flights and fuel. Depending on which Avion card you choose, you’ll have access to a variety of other perks, but no matter what, there are no restrictions on when you fly, what airline you choose or flight you select when you book through the RBC Rewards center.

    • Cash value: Up to $750
    • Minimum spend to qualify: None
    • Expiration date: Nov. 15, 2021
    • How to get it: Apply for any of the three RBC Avion cards (Platinum, Infinite or Infinite Privilege) through the offer page (you can also ask in-branch or call the Advice Centre at 800-769-2512). You’ll receive the welcome points upon approval for the new card. Points can be redeemed for air travel almost anywhere in the U.S. and Canada (Hawaii and Alaska are excluded) with a maximum ticket price of $750.
    • When you’ll get it: The welcome points will appear on your first monthly credit card statement.
    • Terms and conditions: Existing Avion cardholders are not eligible for the promotion, and you must meet the income requirements for the selected credit card in order to receive the points.
    • Monthly fee: $120 for RBC Visa Platinum and RBC Visa Infinite; $399 for RBC Visa Infinite Privilege
    • Promotion page: RBC Avion credit card promotion

    How To Open an RBC Royal Bank Account

    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.

    1. To open an RBC Royal Bank account online, follow these steps:
    2. Have your Social Security number or Social Insurance Number and a government-issued ID handy.
    3. Go to the RBC website, locate the account you want and click the sign-up button on the page.
    4. Follow the prompts to complete the application.

    Alternatively, 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.

    Once your account is opened, you can log in to your RBC account.

    Julia Gordon contributed to the reporting for this article.

    Information on promotions is accurate as of Aug. 31, 2021. Additional requirements may apply. Offers and terms are subject to change.

    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. 

    About the Author

    Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.

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