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Banking for Newcomers to Canada

Banking for Newcomers to Canada

Choose the Bank Account That’s Right for You

Choose the Right Bank Account for You

Opening a Canadian bank account as soon as you arrive is very important, as it provides:

  • A safe place to deposit your money
  • 24/7 access to your money, whenever you need it

Bank with us, and we'll help you choose the accounts that are right for you. We have a variety of chequing and savings accounts available that can help you get started, including our popular RBC Signature No Limit Banking® account, our all-inclusive RBC VIP Banking® account and our U.S. Personal Banking Account®.

Our Most Popular Banking Account

One of our most popular accounts for newcomers to Canada is the RBC Signature No Limit Banking account. With it you’ll get:

  • Your monthly banking fee waived for the first 6 months7
  • Unlimited debit transactions8
  • 3 withdrawals from other bank ATMs in Canada refunded per month15,16
  • Unlimited free e-Transfers
  • Free personalized cheques

We also offer a wide selection of financial services that go beyond daily banking transactions, such as foreign exchange with preferred rates for newcomers, safe and easy international money transfers, high interest savings accounts and safe deposit boxes to securely store your valuables.

Get Started

International Foreign Exchange

Do you need to convert your currency?

  • Enjoy a preferred rate on both personal and business foreign exchange in-branch transactions for the first 12 months9 with RBC

  • Try our Foreign Exchange Currency Converter for today’s public exchange rates.

Send Money Overseas

RBC International Money Transfer allows you to send money internationally anytime, with total peace of mind to your family and friends overseas12.

  • You can send money to more than 120 countries, including the US, anytime, from anywhere you have internet access12
  • All you need is an RBC Royal Bank® chequing or savings account
  • Funds will be available within 2 to 5 business days
  • It's secure, convenient and fast

Open an RBC High Interest eSavings® account

It’s a great way to save and budget, and separate your monthly living expenses. Plus you’ll enjoy these features and benefits:

  • No minimum deposit required
  • High interest earned on every dollar19
  • 24/7 access to your money – online or by phone14
  • Free electronic self-serve transfer of funds from the RBC High Interest eSavings account to an RBC Royal Bank personal deposit account in your name20
  • A U.S. dollar account option

Securely Store Your Valuables in a Safe Deposit Box [Lock Box]

Looking for a place to keep your valuable documents and small items? Learn more about our safe deposit boxes securely stored at your local RBC branch. Benefits include:

  • Small safe deposit box (lock box) with fees waived for up to two years11
  • Safe and secure storage for your valuable small items and documents

Bank Anywhere, Anytime with Mobile Banking

Use the RBC® Mobile18 app with your RBC banking account. With the Mobile app you can:

  • Check account balances in real-time
  • Pay bills on-the-go
  • Transfer money between accounts
  • Send money to others by email or text with Interac e-Transfer
  • Deposit a cheque using your phone
  • Make convenient and secure in-store payments with a simple tap of your phone on the RBC Wallet (available on iPhone and Android devices)

Get Started Now