Important Details for Migration Weekend

Your products, services and balances have started migrating to Royal Bank of Canada. Check back throughout the weekend to find the status of the migration.

Tips for a Smooth Transition

Ensure your information is up to date.

Please ensure that the system administrator(s), user(s), payment templates, beneficiaries, bill payees, and account information you have on file with HSBC Bank Canada is correct so that you can receive future updates.

Share updates with your team.

Advise your system administrators and payment approvers to be ready to onboard to RBC’s online business banking platforms. (More details will be sent to you in an email via HSBC Bank Canada Online Banking.)

Protect yourself against fraud.

Be aware of random, unexpected requests for your banking or investment-related information, including personal details, usernames and passwords. Unless you contacted us first, neither HSBC Bank Canada, RBC, nor their affiliates will ask for this information through email, text or over the phone.

Stay informed.

Review the FAQs below if you have questions or want to see the latest updates about the transition.

Safeguarding your information is important to us. We hold ourselves to the highest standards of privacy management practices to keep your information safe. Please see the RBC Global Privacy Notice and RBC Digital Privacy Notice for details.

Digital Business Banking

As a commercial or corporate banking client, you will be invited to enrol on RBC Express, an enterprise-level platform for businesses with multiple digital banking users requiring domestic and/or international currencies and high-value payment solutions. It provides ease of access to other RBC applications designed to support complex cash management needs.

Users can also download the RBC Express4 Mobile app, which offers the following mobile capabilities:

  • View balance reporting and account statements
  • Create, view and approve account transfers
  • Approve bill payments, ACH and wire payments
What to Expect During Onboarding

Here’s what to expect when it’s time for your business to onboard to RBC Express:

  • Each of your system administrators and users who have access to HSBC Bank Canada’s digital business banking platform will receive an email inviting them to register their RBC credentials.
  • Businesses whose users have multiple login IDs with HSBC Bank Canada’s digital platform will need to register credentials for each of the login IDs separately.
  • After your system administrators have set up their RBC credentials, they will receive a second email inviting them to set up your business on RBC Express and any connected RBC digital business banking platforms you need for your first day with RBC.
  • Your RBC Express profile will reflect migrated data* from your HSBC Bank Canada digital platform (as of January 12th, 2024). Any changes you make on your HSBC Bank Canada digital platform after this date will need to be updated in RBC Express:
    Will be updated by RBC in mid to late March 2024, requiring you to review: May be updated by you anytime, once your RBC Express profile is set up:
    • New or changed services or accounts
    • New System Administrators and channel users
    • Changes to people, permissions and payees
    • New System Administrators and channel users
    *Migrated data includes:
    • System Administrators, channel users, and channel services
    • Bill payees and where applicable, Interac e-Transfer recipients, and wire templates (converted to RBC Express wire templates). Migrated wire templates will require your validation and upload into RBC Express during your onboarding and setup process.

When it is time to start onboarding, each of your system administrators and users who have access to HSBC Bank Canada’s digital business banking platform will receive an email prompting them to begin the process.

View the Platform Comparison Chart (PDF) for a detailed list of RBC Express capabilities.

Benefits You Can Expect

As an RBC commercial business client, you will retain what matters most to your business and have access to new options from RBC for an increasingly complex global marketplace.

A Dedicated Team

Continue to enjoy the service, strategic advice and knowledge of your HSBC Bank Canada relationship banking team.

Innovative, Trusted Partner

Benefit from RBC Capital Markets’ comprehensive advisory, financing, and trading products and services; cross-border capabilities and in-depth perspectives across all major sectors.

Domestic and International Banking

Access a variety of new and existing solutions, which bring together the best of HSBC Bank Canada and RBC to meet the full scale of your domestic and international banking needs.

Consistently High Level of Service

Benefit from service, expertise and global solutions that earned RBC the “Best Trade Finance Bank in Canada” for 11 consecutive years1.

Award-Winning Advice

Access RBC Capital Markets—Euromoney’s Best Investment Bank in Canada for 20232 and a top 10 global investment bank as recognized by sophisticated companies and institutional investors around the world.

Support for Your Business and Social Impact Goals

Rely on RBC’s history of serving community and commercial business interests in Canada to help achieve your business goals and support the priorities that matter to you.

International Capabilities

Stay connected to your global accounts—view your HSBC account balances in other regions, hold foreign currency accounts and trade on Canadian, U.S. and international exchanges through RBC Direct Investing.

CDIC Coverage

When your account(s) holding deposits migrate to RBC, the eligible deposits will continue to be protected by the Canada Deposit Insurance Corporation (CDIC).

HSBC Private Investment Counsel3 Client?

Your services will be migrated to RBC Wealth Management, where you will have access to world-class investment and wealth stewardship services.

HSBC Global Asset Management Client?

Your investment accounts and services will be migrated to RBC, supported by your existing investment and client servicing teams.