FAQs for HSBC Bank Canada Clients

FAQs for Personal Banking Clients

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This page will continue to be updated with additional information regarding the migration of your products and services to RBC.

How can I enrol in RBC online or mobile banking?

There are two ways to enrol in RBC Online Banking or the RBC Mobile app.

1) Through your existing HSBC Bank Canada Online credentials. If you are already enrolled in HSBC Bank Canada Online Banking, you will have access to enroll in RBC Online Banking via https://www.rbc.com/hsbc-canada/enrol
2) If you are not currently enrolled in HSBC Bank Canada Online Banking and would like to access your accounts through digital channels at RBC, you can enrol once you receive your RBC Client Card, or your RBC client number.

For more information and to access RBC OLB and RBC Mobile Banking tutorials, visit rbc.com/hsbc-canada (Opens link in new window). If you currently hold accounts at RBC and are already enrolled in RBC OLB or the RBC Mobile Banking, you will not need to enrol again. As migration approaches, you will see your migrated chequing and savings accounts appear in your RBC OLB or RBC Mobile Banking profile. However, please note that you will not be able to use these migrated accounts until the migration is complete.

I'm enrolled with HSBC digital banking however I do not remember my password or credentials.

Please contact HSBC Bank Canada to reset your digital banking credentials for easy access to the RBC Online Banking enrolment process.

Can I enrol in RBC Digital Banking before the migration is complete?

Yes, learn more about how to enrol in RBC Digital Banking today. You will not be able to view or use your new RBC accounts until migration is completed by the end of March 2024. Until then, continue using HSBC Bank Canada's personal internet banking as usual. If you are not currently enrolled in HSBC Bank Canada personal internet banking, we recommend doing so to make the migration to RBC easier. Talk to your HSBC Bank Canada Relationship Manager or contact the team at HSBC Bank Canada if you have questions about enrolling.

Is RBC Online Banking or RBC Mobile Banking available in Simplified and Traditional Chinese?

RBC Online Banking and RBC Mobile Banking are available in English and French.

Does RBC offer chat through its online and mobile banking channels?

Yes, there is a chat platform at RBC. This capability will be available to you through online and mobile banking after your products and services have migrated to RBC.

I use a security device today with my HSBC Bank Canada online banking. Do I need something similar at RBC? Is it safe?

You will not require a token to sign into RBC Online Banking. For more details on RBC Digital Banking security please visit: RBC Digital Banking Security Guarantee (Opens link in new window)

I completed my digital enrolment however I am unable to view my accounts.

Your products and services will appear in your RBC Online Banking or RBC Mobile Banking profile after migration. Until then, please continue to bank with HSBC Bank Canada as you normally would.

How can I access the HSBC Bank Canada Online Banking platform during the migration?

There are no changes to your personal internet banking access at HSBC Bank Canada at this time. Learn more about how to enrol in RBC Digital Banking today.

Will I have access to the Mobile app outside of Canada?

The RBC Mobile App is supported in the following countries

Android

Canada
US
India
China (Mainland, not Hong Kong)
Philippines
Hong Kong
Australia
UAE
UK
Singapore
Malaysia

iOS

Canada
US
India
China (Mainland, not Hong Kong)
Philippines
UK
Hong Kong
Australia
UAE
Singapore
Malaysia

When will I receive my Client Number to enrol in Online or Mobile Banking?

Clients who do not have an HSBC Bank Canada chequing or savings account, or if the only product you have migrating to RBC is an HSBC Bank Canada Foreign Currency Account, you will be receiving an RBC client number in the mail by mid-March.

What can I expect to see in my RBC Online or Mobile Banking before the migration of my accounts?

New to RBC clients will have access to digital banking starting migration weekend but might not be able to view all accounts until the migration to RBC is complete.

Existing RBC clients may see their migrated HSBC accounts greyed out with a $0 account balance until migration is complete.

How can I request different limits for my client card transactions?

You will have access to review and increase your limits in RBC Online Banking (up to 3 increases per year), or you can speak to an RBC advisor to request an increase after your accounts migrate.

What are the first steps I should take in order to use my new client card?

If you have HSBC Bank Canada chequing or savings accounts (excluding Foreign Currency Accounts), you will receive an RBC Client Card in the mail. Your new RBC Client Card will enable you to enroll in RBC OLB or the RBC Mobile app prior to your products and services migrating to RBC.

Please note that even with enrolment in RBC OLB or the RBC Mobile app, your migrated products and services will not be accessible in RBC channels until migration. Where possible, your existing HSBC Bank Canada PIN will migrate to be used with your new RBC Client Card. If your PIN could not be migrated, or if you have received more than one RBC Client Card, you will receive a letter enclosing a new PIN along with instructions on how to set a PIN of your choice.

After your accounts migrate to RBC and if you want to change your PIN, you may do so at any time at an RBC branch or RBC ATM. If you have lost or do not remember your PIN after migration, you will need to speak to an RBC advisor.

Learn more about how to enrol in RBC Digital Banking today.

When can I start using my new RBC Client Card?

Confirm when you can activate your RBC Client Card by visiting rbc.com/hsbc-canada-activate (Opens link in new window). Please note, your HSBC Bank Canada Debit Card will no longer be valid as of the same date.

Why did I receive 2 RBC Client/Debit Cards? Which one do I use?

In some cases, you may receive more than one RBC Client Card and an additional PIN, depending on the geographic location of your accounts. You will need to use different log-in information for each RBC Client Card to view and transact with your accounts.

Am I required to change the PIN that was mailed to me?

Although we encourage you to change your PIN at your earliest convenience at an RBC ATM, you are not required to change it and you may continue to use the PIN received in the mail.

Will I receive my new debit card and PIN at my International address?

Your new debit card will be mailed to your permanent address on file.

What should I do if I have questions regarding my PIN?

Follow the instructions in the mail sent to you along with the client card. If you have further questions, please call us at 1-800-769-2511.

Is there a cost associated when accessing international ATMs?

Any associated cost will depend on your account package.

Please refer to your product and service notification letter for further information.

Can I use my RBC client card for Point of Sale transactions outside of Canada or the US?

RBC client cards cannot be used for Point-of-Sale transactions outside of Canada and US.

Can I use my RBC client card in the US?

Yes, RBC client cards can be used for point-of-sale transactions in the US.

Any associated cost will depend on your account package. Please refer to your product and service notification letter for further information.

Will I continue to have the Global View service?

You will continue to have the ability to see certain global HSBC chequings and savings accounts information after your HSBC Bank Canada account(s) migrate to RBC. To maintain this service, prior to migration you will be asked to consent to the sharing of information between HSBC and RBC. In addition, you will be able to transfer money easily between RBC and Global HSBC eligible accounts using the International Money Transfer (IMT) service at RBC.

How do I maintain the Global View Service to view my HSBC global accounts?

To maintain the Global View service, you will need to take the following actions:
1) Prior to Migration Date:

Accept the HSBC updated Terms and Conditions on HSBC Online Banking.

If you do not accept HSBCs updated Terms and Conditions in HSBC Online Banking or do not enrol with RBC prior to Migration date, you will lose access to Global View.
2) After Migration date (when your HSBC Canada account(s) migrate to RBC):

Accept the RBC Terms and Conditions in the ‘External Accounts’ section on RBC Online Banking and RBC Mobile Banking.

Are there fees for viewing accounts globally?

There is no fee for viewing your accounts with Global View.

Are there daily limits for International Money Transfer (IMT)?

Yes, there are daily limits for International Money Transfer at RBC. You will have the ability to transfer up to $50,000 per day.

Which accounts can clients view through RBC Global View?

You will have the ability to view certain account information related to the linked global HSBC Savings and/or chequing account(s) from your RBC digital channels.

What is International Money Transfer (IMT)?

International Money Transfer (IMT) is a payment solution that will allow you to send money to almost any country around the world using RBC Online Banking and it can be used in two ways:

Transfer Money to your HSBC Global View Linked Accounts: Using RBC International Money Transfer (IMT), you will be able to transfer money from your eligible RBC CAD or USD chequing account to the globally linked HSBC Accounts (exception: CAD to CAD transfers are not available)
Send Money to others Globally: Using RBC International Money Transfer, you can also choose to send money to anyone else globally. You will be able to transfer money from your eligible RBC CAD chequing account to third parties.

Is there anything that I need to do to complete an international money transfer for the first time?

The first time you choose to send money using RBC International Money Transfer (IMT), you will be prompted to ‘add payee’ by entering the payee’s details.

Is International Money Transfer service secure?

With the RBC Digital Banking Security Guarantee, you are protected against the losses arising from unauthorized transactions, if you fulfill your responsibilities.

Are there fees for transferring funds between accounts using International Money Transfer (IMT)?

No, there are no fees for using International Money Transfer Service (IMT). Foreign exchange rates and fees by the recipient's bank may still apply.

To maintain my Global View service, where do I go to provide “consent” to the updated Terms and Conditions?

You can provide “consent” in either HSBC Bank Canada Online Banking (browser only) or your other HSBC Online Banking (browser only). Once you log in to HSBC Online Banking, you will be presented with a pop-up message to provide “consent” to the updated Global View Terms and Conditions. You will need to select ‘I agree to share’.

Which accounts will I be able to view at RBC through Global View once the migration is complete?

You will need to provide consent via HSBC Bank Canada Online Banking (browser) to view certain account information related to your linked Global HSBC Savings and/or chequing account(s) within RBC Online Banking and Mobile Banking after migration. RBC and HSBC advisors will not be able to view any information in your global accounts. The global view will only be seen by you after you log into RBC Online Banking and Mobile Banking.

What happens if I do not provide consent to the new Terms and Conditions prior to migration?

If you do not provide consent prior to migration, your account information will not be shared between HSBC and RBC for Global View Services. This means that your HSBC Canada account(s) Global View linkages will not be migrated to RBC Canada. Please Note:

You will NOT be able to view your non-Canadian HSBC accounts in RBC Online Banking or Mobile Banking and
You will NOT be able to view your RBC Canada account information from other HSBC locations where you have Global View.

Can I change my mind and delink my HSBC accounts after migration to RBC?

Yes, you always have the option to remove your HSBC linked accounts from RBC’s External Accounts. This can be done either from RBC Online Banking or your Global HSBC Online Banking channels.

If you delink your accounts from RBC’s External Accounts you will NOT be able to re-establish the link.

If I provide consent to Global View, will RBC or HSBC be able to see all my global accounts and holdings?

No, RBC and HSBC Advisors will not be able to view or access any information on your global accounts.

If you provide consent, you will be the only person able to view certain account information related to your linked Global HSBC Savings and/or chequing account(s) from RBC Online Banking and Mobile Banking after migration.

Can I select which non-Canadian accounts I want to be linked in Global View?

Yes, once you provide consent via HSBC Bank Canada Online Banking (browser only) you will have the ability to delink (remove) the non-HSBC Canadian account(s) that you do not want to include in Global View with RBC prior to migration.

Do I need to provide consent in HSBC Bank Canada Online Banking only or do I need to give consent for all countries/regions separately?

You only need to provide consent in HSBC Bank Canada Online Banking prior to migration. Global View Terms and Conditions are globally applicable. When you provide consent, you’re providing consent that any HSBC account linked in Global View will be visible on RBC Canada Online banking and Mobile Banking and in HSBC digital platforms, where you have Global View. After migration you will also have to give consent to RBC.

I can’t see the consent message in HSBC Bank Canada Online Banking. How can I find it?

If you cannot see the consent message in HSBC Bank Canada Online Banking, please try to log back in to refresh the page. The consent message should appear right after logging back on. There may be a slight delay.

Will RBC continue to offer Global View services indefinitely to migrated clients who currently have it?

Both RBC and HSBC have agreed to maintain this important service for clients. You will be notified if there will be any changes made to this service.

If I did not have Global View services with HSBC prior to migration, will I be able to obtain Global View services with RBC after migration?

No, unfortunately Global View with RBC will only be available to HSBC clients who had Global View and consented to the new Terms and Conditions prior to migration.

If I open an additional HSBC (chequing/savings) account overseas, will I be able to view the newly added accounts through RBC Online Banking and RBC Mobile Banking?

Yes. If you have consented to the Terms and Conditions at HSBC Canada to maintain your Global View Service prior to migration, you will be able to see all eligible linked overseas accounts. Any new eligible accounts added or eligible accounts that are removed from your linked overseas profiles would be reflected in your RBC banking session as the consent you provide is at a customer level.

Do I need to have accounts linked in Global View to access RBC International Money Transfer (IMT) service?

No, you do not have to have linked accounts in Global View to access RBC International Money Transfer (IMT).

RBC International Money Transfer (IMT) can be used to send money internationally. You can:

Send money internationally to your own Global View Linked HSBC accounts around the world and/or
Send money internationally to anyone around the world, where permitted, whether the recipient is a client of HSBC or a client of another financial institution.

Will RBC charge any fees on receiving funds, when I use HSBC’s Global Money Transfer (GMT) to pay myself from HSBC overseas accounts to RBC accounts?

If you send money internationally from HSBC using Global Money Transfers (GMT) to an RBC Canada account, then RBC will not charge fees for receiving funds.

HSBC’s Global Money Transfer service is currently available in Hong Kong, UK, US, UAE, Singapore, Australia, HSBC Expat (Jersey) and India (available on your HSBC mobile app). HSBC Global Money Transfer service is free in most jurisdictions with an exception of Hong Kong. Please refer to your local HSBC product pages/ guides for latest information.

I currently send foreign currency funds (e.g.) Euro to Euro from my Canadian Euro HSBC accounts as a Global Transfer, can I continue doing this after migration?

No, unfortunately RBC does not offer this service at the moment but will be looking at enabling all foreign currency accounts to have International Money Transfer capabilities in the future. In the interim, you can send funds using a wire payment by visiting an RBC branch.

What is the delivery time for International Money Transfer (IMT)?

Most International Money Transfers (IMT) take approximately two (2) business days to process, although in some infrequent circumstances it may take up to six (6) days.

Is the Global Transfer function going to be continued in Canada after migration to RBC?

No, the Global Transfer function will not continue in Canada after migration to RBC. The last day to send & receive Global Transfers to and from HSBC Bank Canada is March 15, 2024. However, you will be able to transfer money easily between RBC and Global HSBC eligible accounts using the International Money Transfer (IMT) service at RBC or/and Global Money Transfers (GMT) or International payment services from HSBC.

Will there be support in Chinese or Mandarin for clients?

Yes. RBC has the capability to support clients in over 200 languages including Chinese and Mandarin.

How come I can not see my RBC chequing/savings account that is “joint AND” ownership with Global HSBC Digital ?

You will only be able to view your RBC chequing and savings “Sole Owner” and “Joint OR” accounts through Global HSBC digital provide that you have provided your consent. RBC “Joint AND” chequing and savings accounts are excluded.

I want to transfer more than $50,000 in a single transaction from my RBC Canada chequing (CAD or USD) Account to my own linked Global HSBC account internationally. What options would I have since RBC’s International Money Transfer has a limit of $50,000 only?

For migrated HSBC Canada clients wishing to send more than $50,000 to their own Global View Linked accounts, clients will be able to send a in branch wire transaction by visiting a RBC Branch. Transaction fees will be waived for amounts between $50,000-$200,000 as an exception for these types of transactions. Foreign exchange conversion fees or intermediary bank fees may still apply.

What are the applicable jurisdictions that clients can view their global HSBC accounts provided that the client accepted the Terms and Conditions with HSBC prior to March 21st and accepted the RBC Terms and Conditions in RBC Online Banking or RBC Mobile App?

Applicable Jurisdictions are: Hong Kong, Taiwan, HSBC Expat, China, United Arab Emirates, Qatar, Singapore, India, Philippines, United Kingdom, United States, Australia, Malaysia, Egypt, Bermuda, Indonesia, Vietnam, Sir Lanka, Malta, Channel Islands and Isle of Man

Note: All other Jurisdictions that are not on this list will not be viewable in RBC Online Banking and RBC Mobile App.

For clients that were with former HSBC Canada: I was able to view my global linked account in other jurisdictions such as France/ New Zealand/ Mexico/ Bahrain. Why are these accounts not viewable in RBC Online Banking or RBC Mobile App given that I consented to the Terms and Conditions in HSBC prior to March 21^st?

Some jurisdictions are not available due to local regulations.

Can I use RBC International Money Transfer (IMT) to send funds to other people across the Globe?

RBC International Money Transfer (IMT) can be used to send money internationally. You can:

Send money internationally to anyone around the world, where permitted, whether the recipient is a client of HSBC or a client of another financial institution

Currently, using IMT to send money to any person across the world can only be initiated from a RBC CAD account.

Will RBC honour my outstanding HSBC cheques and how long can I continue to use the HSBC cheques I have?

If you have written cheques on your HSBC Bank Canada account(s), they will be processed to your new RBC account(s) for a period of 12 months after the migration date. You will need to place an order for RBC cheques once your accounts migrate to RBC. We encourage you to begin using your new RBC cheques as soon as you receive them.

If you deposited a cheque(s) to your HSBC Bank Canada chequing or savings account on or after the migration date, rest assured that the funds will be reflected in your RBC account.

Will my existing direct deposits (e.g., payroll, tax refund, etc.) and pre-authorized payments need to be updated with my new RBC account info?

If you have set up pre-authorized debits (e.g. for memberships, subscriptions, or utility payments) these will automatically continue and debits will be made from your new RBC chequing or savings accounts on or after migration. You must contact the biller if you need to cancel or make changes to your pre-authorized payments.

If you have direct deposits (e.g., payroll, tax refunds/HST credits, etc.) being made to your HSBC Canada chequing or savings accounts, these will automatically continue to be deposited to your new RBC accounts unless you provide alternative instructions.

Will bill payments payees, Interac e-Transfer recipients and post-dated bill payments be migrated to RBC?

Your HSBC Bank Canada Online Banking or Mobile app payee list, including up to a maximum of 99 bill payees and Interac e-Transfer payees combined, will migrate to RBC Online Banking (RBC OLB) and the RBC Mobile app. Note that any payees in excess of the maximum number of payees will not be included and you will be required to add them to RBC OLB or the RBC Mobile app after migration.

If you have an existing RBC Online Banking profile, to avoid overwriting your current payee list, your HSBC Bank Canada payees will not be migrated. You will need to add them to RBC OLB or the RBC Mobile app after migration.

If you have scheduled post-dated bill payments through HSBC Bank Canada Online Banking, these will be migrated to your RBC account after migration, if you have digitally enrolled in RBC OLB prior to migration.

Learn more about how to enrol in RBC Digital Banking today.

I send domestic and international wires regularly. How would I do this now?

To send a domestic or international wire, please visit the branch and have the following recipient information readily available:

Beneficiary Transit number (Routing #)
Beneficiary Account number (International Bank Account Numbers are called IBANs)
Beneficiary Name
Amount of money being sent
Beneficiary Address (where the statement is mailed to)

You can also use RBC International Money Transfer (IMT) to send money internationally using RBC OLB or RBC Mobile from an eligible account. More information can be found at the following link International Money Transfer – RBC Royal Bank.

Please note that any wire payees (branch or digital) and any post-dated wires you have set up at HSBC Bank Canada will not be migrating to RBC. After migration, you will need to re-establish wire instructions and will be able to add IMT payees in RBC OLB or RBC Mobile.

I receive wires regularly. Will I continue to receive the wire deposited to my RBC account?

Incoming wire payments sent to your HSBC Bank Canada chequing or savings account within a 12-month period from migration date will be credited to your new RBC account. We encourage you to provide your new RBC account information and RBC routing instructions to your wire payment senders as soon as you receive it to continue receiving wires to your new RBC account.

Your RBC account number (this a 12-digit account number made up of the 5-digit branch transit code and your 7-digit account number).
RBC Royal Bank institution number: 003
RBC Royal Bank Routing/ABA number (if funds coming from U.S.): 021000021
RBC Royal Bank SWIFT BIC (if funds coming from international location): ROYCCAT2
Your RBC Royal Bank branch phone number, address and transit number

More information can be found at the following link
Wire Transfer - RBC Royal Bank (Opens link in new window).

Will Interac e-transfer Auto Deposit continue to work with my new accounts?

If you were enrolled in the Interac e-Transfer Auto Deposit feature at HSBC, any Interac e-Transfer^® transaction sent to your Auto Deposit registered email address or SMS number after the migration date will be automatically deposited into your migrated RBC bank account.

However, if you are an existing RBC client prior to the migration date, the Interac e-transfer Auto Deposit feature will not migrate. You will need to re-create your Auto Deposit registration via RBC OLB after migration.

What are my Daily Transaction Limits?

To find your daily limit and available limit for various payment solutions, please visit the daily transaction limit page in RBC Online Banking or the RBC Mobile Banking app.

How can I find my previous bank statements and/or documents?

To access historical transactions and statements, sign in to Online Banking, click Documents/Statements on the Account Summary page,

then click HSBC Bank Canada Documents & Transactions.

Historical transactions and statements are not available through the RBC Mobile app.

When will I receive my new RBC bank account number and where can I access it?

You will not have access to your RBC bank account number until migration. Once the migration occurs, you will be able to see your RBC bank account number when logged into RBC Online Banking, in the RBC Mobile app or on your first bank statement.

What are my options when my HSBC Bank Canada bank accounts are migrated over to RBC? Can I switch to another bank account or open a new bank account?

If you are not fully satisfied with the RBC bank account that you have been provided, you can switch into any of our other RBC bank account offerings after migration.

Why is my HSBC Bank Canada passbook being converted to a statement?

Passbooks are not available at RBC. You will continue to have access to monthly statements (paper or electronic) and can print a mini statement at any RBC ATM, at any time, at no cost.

What options for record keeping do I have for my accounts at RBC?

You will receive monthly deposit account statements via mail (digital accounts such as High Rate eSavings Accounts and Foreign Currency Accounts only offer e-statements). You may also access your account statements electronically at any time in RBC Online Banking or the RBC Mobile app. If you wish, you can choose to switch from paper statements to solely electronic statements through RBC Online Banking or in the RBC Mobile app. For more information, please see your Personal Deposit Account Disclosures and Agreements

What will happen to my HSBC Bank Canada safe deposit box?

You can continue to access your safe deposit box as you do today. Through the transition, the safety and security of your safe deposit box is a top priority.

Will I have access to my old HSBC Bank Canada statements?

Your HSBC Bank Canada historical banking information will be migrated to RBC. More details on how you may access this information will be provided in future notifications

Should I move my HSBC Bank Canada products to Royal Bank of Canada (“RBC”) now?

No, you do not need to take any action right now. Your HSBC Bank Canada products and services will be migrated over to RBC by the end of March.

I will be out of the country during the migration period. How can I receive key communication, cards and support?

Make sure that your contact details (phone number, email and mailing address) are up to date with HSBC Bank Canada. This will ensure that you receive all the upcoming communications, such as your replacement debit and/or credit cards, in the mail. We also encourage you to digitally enrol in RBC Online Banking or the RBC mobile app through your HSBC personal internet banking prior to traveling so you can easily access your accounts and any information you need once the migration is complete.

What will happen to my HSBC Bank Canada account balance, funds, deposits and automatic payments during the migration?

Details about your replacement RBC products will be sent to you in January. For general information about RBC, please visit rbcroyalbank.com.

When will I get more details about how my HSBC Bank Canada products are changing?

You can expect additional details about your migrated RBC products and whether there are any changes to them in January— check this site for updates to key dates.

When will I receive an RBC debit card?

Your new RBC Royal Bank Client Card (debit card), if applicable, will be sent in the mail in February. Check this site for updates to key dates.

I don’t pay any HSBC Bank Canada account fees now. Will RBC continue to waive them?

As part of your migration to RBC, the monthly account package fee on your RBC Chequing account(s) migrated from HSBC Bank Canada will be waived for a minimum period of 12 months. You will receive prior notice of when this waiver will come to an end. After that period, you may be eligible for additional rebates and monthly fee waivers at RBC.

Who will be my Relationship Manager in Canada?

We plan to preserve your relationship(s) with your existing advisor(s). In cases where you have a relationship with both HSBC Bank Canada and RBC, we will work with you and be guided by your needs.

Will I still be covered by CDIC insurance once the migration to RBC is complete?

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

To learn more about deposit insurance and how to maximize coverage please visit https://www.rbc.com/hsbc-canada/cdic.html.

Will RBC provide support in multiple languages?

Yes— RBC provides support in English, French, Mandarin and Cantonese at the Advice Centre, RBC Direct Investing contact centres as well as in multiple branch locations. Our digital platforms offer service in English and French.

What will happen to my ability to view and transfer money between different countries?

Maintaining the ability to view your HSBC balances within other jurisdictions and easily move money globally is important to us. When you become a client of RBC, you will still be able to view balances of your chequing and savings HSBC Accounts, if you maintain Global View linkages prior to the move to RBC. In addition, our International Money Transfer (IMT) solution will enable you to move money to your HSBC accounts(s) or to anyone else globally.

Will I be able to trade on international exchanges?

Yes, you can trade on Canadian, US and international exchanges including Hong Kong, London, Paris, Frankfurt and more through RBC Direct Investing.

Can I hold foreign currencies in banking accounts?

Yes, you will have access to a variety of foreign currency accounts at RBC.

Will my HSBC Bank Canada bank account features/services change?

We will migrate clients to RBC products that best match the features and benefits of products available to you at HSBC Bank Canada. If you have a relationship manager at HSBC Bank Canada, you will continue to have one at Royal Bank of Canada. We have made every effort to migrate your personal banking account to the most comparable account type at Royal Bank of Canada.

I’ve issued several postdated cheques on my HSBC Bank Canada account, will they clear?

All cheques issued from your HSBC Bank Canada bank account will be cleared/negotiated by Royal Bank of Canada up to 12-months after migration.

Can I continue to use my HSBC Bank Canada cheques, or do I need to order new cheques, and will I be charged a fee for my cheque book order?

Once you receive your new Royal Bank of Canada bank account number, you can order cheques when logged into your RBC Online Banking or by speaking with an advisor. Your first Royal Bank of Canada cheque book ordered, per account, within your first 12 months upon migration, will be free. Once you receive your new Royal Bank of Canada cheque book, please ensure to destroy your HSBC Bank Canada cheques.

Do I have to update by my direct deposits (e.g., payroll, tax refunds, HST credits, etc.) being made to my HSBC Bank Canada account?

No, there is no action required on your part. Any direct deposits (e.g., payroll, tax refunds, HST credits, etc.) being made to your HSBC Bank Canada chequing or savings account(s) will continue to be credited to your migrated RBC Royal Bank of Canada account(s), unless you provide alternative instructions.

I currently have a bank account with RBC Royal Bank of Canada and see another account added with a zero balance in RBC Online Banking and RBC Mobile app. What does this mean?

An account has been created with a temporary $0 balance to prepare to migrate your HSBC Bank Canada account(s) to Royal Bank of Canada at the end of March 2024. Once migration is complete you will be able to transact on this account.

Will I receive a Client card for my EUR GBP, HKD e-Savings account?

If the only personal banking account you have migrating to RBC is an RBC Foreign Currency Account, you will not be receiving a physical Client card. Instead, you will be receiving a virtual client number in the mail, that will allow you to enrol in RBC Online Banking.

What type of transactions can I do on my Foreign Currency EUR, GBP, HKD e-Savings account?

You can;

Transfer funds to and from your foreign currency account to another one of your RBC CAD or U.S. dollar Personal Deposit Accounts through RBC Online Banking and the RBC Mobile App.
Transfer funds to and from RBC Direct Investing Foreign Currently Accounts within the same currency
Receive and send branch wires from your Foreign Currency Account.
Visit a branch for any cash withdrawals and deposit needs.

Please note that a limited supply of currency will be available in RBC branches and an order may have to be placed for you. It will take up to 5 business days for your foreign currency to arrive.

You will not be able to:

Deposit or withdraw at the ATM (including cheques).
Request the issuance of drafts or personalized cheques
Execute the following transactions: Debit Point of Sale, Cross-Border debits, bill payments, e-Transfer, Third-Party Payment, and International Money Transfers
Request RBC Virtual Visa Debit to make online purchases
Transfer money between two FCA accounts that differ in currency.

How will my interest earned for their EUR, GBP, HKD eSavings accounts be distributed during the migration phase?

You will receive two accrued interest payments (if applicable) representing interest accrued prior to Migration Date (MIGR DEPT INT) and interest accrued after migration date to end of the month (DEP INT).

How will interest be calculated on EUR, GBP, HKD eSavings account?

Interest will be calculated daily and paid out on the last business day of each month.

What foreign exchange rates will be applied to my transactions?

A foreign exchange rate will be applied to each transaction. This will always be presented to you, giving you the opportunity to review the rate and determine whether to proceed with the transaction.
Note: Internal transfers, transfer to Direct Investing, branch wires and cash transactions will always generate a currency exchange charge.

What will happen to the discontinued Foreign Currency Accounts for the Swiss Franc, Renminbi, Japanese Yen, and Australian Dollar that I have with HSBC?

These products are not available at RBC. Please contact HSBC Bank Canada to transfer these funds to another account at HSBC Bank Canada, or to otherwise withdraw your funds. You will receive up to date notification with information regarding actions required if different than the RBC Product Migration Guide.

Will the interest rate remain the same on my mortgage, loan, or line of credit after the migration?

Your personal lending product(s) will migrate to RBC at the same interest rate you had at HSBC Bank Canada, unless otherwise specified in the RBC Product Migration Guide. For mortgages and loans, this interest rate will be maintained until the term ends. For lines of credit, the interest rate may change after migration if permitted by the terms of their line of credit or overdraft agreement. For Overdraft, the interest rate on the outstanding balance will increase from 18.5% or 21% per year to 22% per year. Thereafter it can change again if permitted by the terms of the overdraft agreement.

Note For Fixed Rate Mortgage Clients: At RBC, your online banking will display the interest rate that aligns with the rate displayed on your Cost of Borrowing Disclosure and your annual mortgage statement. This rate does not incorporate the impact of compound interest nor the payment frequency. However, the rate displayed, on your online banking at the former HSBC Bank Canada did incorporate the impact of compound interest and payment frequency thus, it was lower than one displayed on RBC’s online banking.

Will I need to reapply for credit products or go through a new approval process with RBC upon migration?

No, you will not need to reapply for products upon migration unless you are looking for additional credit. The terms and conditions of your existing personal lending product(s) at HSBC Bank Canada will migrate over to RBC as is and will continue to apply, unless otherwise specified in the RBC Product Migration Guide.

Will some of the features of my mortgage, loan, or line of credit operate differently at RBC?

Some of the features of a mortgage, loan, or line of credit may operate differently at RBC as explained in the RBC Product Migration Guide.

What will happen to my loan and mortgage payments to an HSBC Bank Canada mortgage or loan account? Will I need to provide new instructions?

Your pre-authorized debits (PAD) for mortgage and loan payments will migrate once your mortgage and/or loan has been migrated to RBC and do not have to be re-established. This includes pre-authorized debits from an HSBC Bank Canada bank account and those from other financial institutions.

What will happen to my HSBC Bank Canada line of credit payments? Will I need to provide new instructions?

When your line of credit account migrates to RBC, your monthly payments will only be taken from the designated chequing account linked to your line of credit.

Note: Monthly payments are interest only at RBC. If you wish to make a payment to principal you will need to set up the payment from your designated RBC Chequing account.

Learn more about how your migrated line of credit works.

At HSBC, my Line of Credit (LOC) is attached to a chequing account. Once migrated to RBC, will I maintain a connection between my LOC and a chequing account?

Yes, for Canadian dollar Line of Credit accounts only. RBC will maintain a connection between the Line of Credit and a designated chequing account for HSBC migrated clients only. This feature will not be offered to personal clients opening new accounts.

For US dollar Line of Credit accounts migrating to a USD Revolving Demand Loan, clients will not maintain a connection between their USD Revolving Demand Loan and their USD chequing account. Please see Section 3 of the RBC Product Migration Guide for more details related to the USD Revolving Demand Loan and its functionality.

Here’s what you need to know about your HSBC Lines of Credit and how they will be migrated to RBC:

HSBC’s LOCs are attached to a chequing account that operates in a similar way to overdraft protection.
RBC will maintain connection between an LOC and the designated chequing account for you to make credit draws.
Your RBC LOC will appear separately from the designated chequing account on statements and online banking and will have a different account number. The line of credit will appear as a Royal Credit Line, but you will not have that product as the terms and conditions of the HSBC Bank Canada Line of Credit agreement will continue to apply, subject to the information in the RBC Product Migration Guide.
Your monthly payments will only be taken from the designated chequing account linked to line of credit. If you wish to make principal payments, you can make a deposit directly into your designated chequing account.
Your RBC LOC and designated chequing account may operate differently from the one you had at HSBC and it will be important to understand those differences upon migration as outlined in the "Loans, Line of Credit" section of the RBC Product Migration Guide.

Learn more about how your migrated line of credit works.

What happens if I have an Equity Power Mortgage at HSBC Bank Canada? Is it similar to the RBC Homeline Plan?

If you have an Equity Power Mortgage (EPM), here’s what you need to know:

Depending on what product(s) you have under your EPM, you will be moved to the most similar product we offer at RBC and therefore your statements and online banking (OLB) may refer to:
- RBC Mortgage;
- RBC Royal Credit Line;
- RBC Homeline Plan (HLP)
HSBC’s Equity Power Mortgage (EPM) has a different product structure and operates differently than RBC’s Homeline Plan. If you have an HSBC EPM:
- You will not have the ability to adjust your product mix and reallocate funds without having to re-qualify.
- As you pay down your mortgage(s), the limit of any Line of Credit you have under your EPM does not automatically increase.
You may see references to an RBC Homeline Plan and a Royal Credit Line on your monthly statements and online banking (OLB). This is for migration purposes, ensuring you can continue using your products after migration as you do now. You have not signed an RBC Homeline Plan Agreement or a Royal Credit Line Agreement. The terms of your HSBC Bank Canada mortgage and/or line of credit agreement will apply, subject to the information in the RBC Product Migration Guide.

Why do I have a Royal credit Line with a credit limit of $1.00 when my Equity Power Mortgage migrated to an RBC Homeline Plan?

Migrated clients whose monthly statements and OLB reference an RBC Homeline Plan (HLP) do not have an RBC Homeline Plan and Royal Credit Line. You were set up with a Homeline Plan and/or Royal Credit Line product(s) for migration purposes to ensure that upon migration you can continue using your product(s) as you do now. You have not signed an RBC Homeline Plan Agreement or a Royal Credit Line Agreement. The terms of your HSBC Bank Canada mortgage and/or line of credit agreement will apply, subject to the information in the RBC Product Migration Guide.

Consequently, because you do not have an RBC Homeline Plan, you:

Do not have the ability to adjust your product mix and reallocate funds without having to re-qualify with RBC.
The credit limit of the Line of Credit does not automatically increase as you pay down your mortgage(s).
Will receive monthly statements for an RBC Homeline Plan that disclose an RBC Homeline Credit Limit, and a Royal Credit Line and your RBC OLB will also show an RBC Homeline Plan including Royal Credit Line. You do not have either of those products and should disregard the RBC Homeline Plan Credit Limit disclosed.

If you would like an RBC Homeline Plan or a Royal Credit Line after migrating over, you can contact an RBC Advisor to apply and qualify for the product.

Why do I see a Royal credit Line with a credit limit of $1.00 on my monthly statements , when my Equity Power Mortgage migrated to a RBC Homeline Plan?

Your HSBC Equity Power Mortgage was migrated over under the RBC Homeline Plan and Royal Credit line for migration purpose only. You have not signed an RBC Homeline Plan Agreement or a Royal Credit Line Agreement. The terms of your HSBC Bank Canada mortgage and/or line of credit agreement will apply, subject to the information in the RBC Product Migration Guide.

You will receive monthly statements for an RBC Homeline Plan that disclose an RBC Homeline Credit Limit, and a Royal Credit Line and your RBC OLB will also show an RBC Homeline Plan including Royal Credit Line. You do not have either of those products and should disregard the RBC Homeline Plan Credit Limit disclosed.

What if I have an HSBC Equity Power Mortgage and would like to add a mortgage, line of credit or I would like to increase the amount of any loans at RBC?

If you have an HSBC Equity Power Mortgage EPM and would like to add a mortgage, line of credit or you would like to increase the amount of any loans at RBC, you must first apply and qualify for a new lending solution at RBC. The borrowing expenses you will be required to pay may include legal fees and expenses for the registration of a new mortgage to secure the added or increased borrowings.

If you would like an RBC Homeline Plan or a Royal Credit Line after migrating over, you can contact an RBC Advisor.

I have a Canadian personal overdraft that will migrate to RBC. What key differences should I be aware of?

Below are some key differences relating to your RBC overdraft:

Your interest rate on the outstanding balance of your RBC personal overdraft account will increase from 18.5% or 21% per year to 22% per year.
At HSBC Bank Canada you pay a $5 fee when you go into overdraft on a given month. At RBC we charge a monthly overdraft fee of $5 unless you have a personal banking package that waives this fee. If this fee applies to you, RBC will waive it for a minimum of your first 12 months after your account migrates to RBC.
You may have been making monthly payments of interest only, or an amount that includes both principal and interest at HSBC Bank Canada. When your personal overdraft accounts migrates to RBC your monthly payments will be interest only and you should be aware that monthly payments will come out of the chequing account attached to the overdraft.
For more information relating to personal overdraft, refer to the RBC Product Migration Guide, Section 3.

Note: Clients who have a personal U.S. Dollar (USD) overdraft will have their product discontinued at migration. If clients would like a USD overdraft protection, they can apply for an RBC Overdraft product after migration.

I have a Capital Loan with HSBC; however, the letter and booklet refer to a demand loan or personal loan. Is my product staying the same under the Capital Loan program?

Yes, your Capital Loan will be migrating over to RBC under the current product type (demand or personal loan) that you had at HSBC.

Why do payment calculations differ between HSBC Bank Canada and RBC? Could you provide a list of all the differences in conventions between HSBC Bank Canada and RBC

Each institution follows its own rules when calculating payments for term products like mortgages or loans.

The specific payment calculation method is confidential and not shared with others. We can only determine the cost of borrowing differences but not the specific factors causing them.

Does RBC have a unique payment calculation method compared to other banks?

We don’t know whether the RBC payment calculation method is different from other banks, as payment calculations are confidential.

Will the payment calculation differences between HSBC Bank Canada and RBC impact my overall costs I’ll pay as a borrower? And is so, how significant is this difference?

Due to the varying payment calculation methods, some HSBC Bank Canada migrated clients may experience a lower cost of borrowing, while others might have a slightly higher cost of borrowing.

The difference in cost can vary based on the outstanding mortgage amount and other factors.

What steps is RBC taking to ensure I won’t be affected by payment calculation differences between HSBC Bank Canada and RBC, especially if my mortgage and/or loan costs increase due to these differences?

If your HSBC Bank Canada mortgage and/or loan ends up with a higher cost of borrowing after migrating to RBC due to payment calculation differences, RBC will make a one-time credit to your mortgage and/or loan (as a principal only payment) within the first month after your account is migrated. This credit is intended to offset any difference in cost of borrowing.

If, on the other hand, your HSBC Bank Canada mortgage or loan has a lower cost of borrowing after migration, RBC won’t ask you to return the difference.

Will borrowers still get separate statements for all types of mortgages, line of credit and loans?

Yes, borrowers who chose to receive separate statements for mortgages, line of credit and loans will continue to receive separate statements.

If borrowers for all mortgages, line of credit and loans had previously chosen to receive all statements and disclosure through one of the borrowers by selecting ‘joint’ option at HSBC Bank Canada, will RBC continue this?

RBC will not migrate the joint selection option for all types of mortgages, line of credits and loans. As a result, all borrowers will receive separate statements once migrated to RBC. Clients can change their statement preference after migration if needed.

What self-serve options are available for mortgages on RBC Online Banking and RBC Mobile Banking?

RBC Online banking and RBC Mobile banking functionality has not been updated to reflect HSBC Bank Canada product terms and conditions. For optimum experience, clients whose product has migrated over from HSBC Bank Canada should contact an RBC Advisor for:

Making additional payments
Paying Principal only
Missing a matched payment

Note:

RBC Online banking will continue to display ‘Making additional payment’ and ‘Paying principal only’ options. Clients will be permitted to pay principal and additional payments through online banking to a maximum of 10% of initial mortgage amount and monthly payment, respectively. If your HSBC Bank Canada mortgage allows you to pay a greater amount, please contact an RBC Advisor.
RBC Online banking displays an option for RBC Skip- a- Payment. As HSBC Bank Canada terms for missing a payment are different than terms of RBC skip-a-payment, if you wish to exercise the HSBC Bank Canada option to miss a payment, you should contact an RBC Advisor. You should not use the self-serve functionality on RBC Online banking.

After migration, is my migrated RBC mortgage portable to another property?

You will be permitted to port your mortgage interest rate and then-outstanding principal amount for the remaining term of your migrated mortgage, subject to an approved credit application. With a port a new mortgage is registered on a new property. The new mortgage will be on RBC mortgage forms and subject to all RBC terms and conditions, however the interest rate, remaining term and then-outstanding principal amount will be ported.

I’m looking to close a new property around migration weekend (at end of March) and I wish to port my mortgage. Should I start that application with HSBC Bank Canada or RBC? And can I have a closing date over migration weekend (March 28, 29, 30, or 31)?

If a client is looking to close a new property at the end of March and wants to port their previous mortgage terms, they should start their application at HSBC as soon as possible. We recommend avoiding a closing date near the migration date, March 28. If possible, clients should try to close their new mortgage either at HSBC Bank Canada before the migration, or 1-2 weeks after the migration, at RBC.

What happens if my mortgage application, approved or conditionally approved by HSBC Bank Canada, has a closing date after April 1, 2024?

If your approved or conditionally approved mortgage applications has a closing date after April1, a dedicated team in RBC will transfer your approved or conditionally approved application details into RBC system. Your approved or conditionally approved mortgage amount, including the mortgage rate and the terms, will remain unchanged. Your Advisor will contact you prior to the closing date to update you on the application status.

If your mortgage application was not approved or conditionally approved, simply contact your Advisor who will assist you in submitting a new RBC mortgage application.

Will I have to pay a prepayment charge if I pay off or break my mortgage before its maturity date?

If you have a closed mortgage, you may incur a prepayment charge. The best way to approximate your potential charge is to use the prepayment calculator. Alternately, you can reach out to one of our representatives by phone or visit an RBC branch and talk with us.

I have a student LOC and want to know if my original approved limit will be honoured at RBC?

Yes, your original approval limit will be honoured at RBC, but you will need to sign an RBC agreement in order to obtain your next annual increase. This will mean that you will switch to RBC terms and conditions. Any change in the amount originally requested would require a new application

How do I make my monthly interest payments on my line of credit given that I am getting a chequing account and a line of credit at RBC?

Your chequing account and line of credit are linked at RBC to mimic the functionality you had at HSBC Bank Canada. Your monthly interest only payment will be due on the same payment date you had at HSBC Bank Canada and will be automatically debited from your chequing account. You need to ensure you make a deposit into your chequing account at least once a month to cover any interest charges for your line of credit.

Learn more about how your migrated line of credit works.

How do I make principal payments on my line of credit (LOC)?

If you want to pay down your LOC balance, you just have to make a deposit to your chequing account that is linked to your LOC, and it will automatically transfer the funds onto your LOC. This will mimic what happens today at HSBC Bank Canada when you make a deposit to your chequing account, and you have negative funds available.

Learn more about how your migrated line of credit works.

How can I complete an e-transfer if my chequing account is in the negative? The product and service notification guide said that this transaction is not possible if I don’t have available funds in my chequing account.

You can go into your Online Banking or Mobile app and manually transfer funds from your line of credit to your chequing account as needed and then complete an e-transfer from your chequing account.

I have more than one chequing account at RBC and I am unable to use the one attached to my line of credit at Point of Sale with my client card. How can I enable that function?

You can visit a branch or call 1-888-769-2581 so that you can set-up the chequing account attached to your line of credit to be visible at Point of Sale. Only one chequing account shows up on the terminal at Point of Sale so if you enable your HSBC chequing account attached to your line of credit, any other RBC chequing accounts will not be visible at point-of-sale terminals.

I have a partner capital loan at HSBC Bank Canada and there was no mention of this program in the communication I received. Will it be migrating over?

Yes, if you have a Loan that is currently under a Capital Loan program, it will convert over with the same terms and conditions unless otherwise mentioned in the Product and Service notifications.

How can I use my USD Revolving Demand Loan?

Please contact RBC at 1-888-769-2581 to transfer funds from your USD Revolving Demand Loan into your USD chequing account.

My mortgage is scheduled to mature before March 28 and I’m aware that HSBC will no longer be in operation. What do I do?

If you have a mortgage maturing on or before March 28, please sign and return your mortgage renewal document sent by HSBC Bank Canada as soon as possible, and no later than 4 business days before your maturity date. Your mortgage will then be renewed based on the terms you agreed upon in the HSBC document. Renewal documents that are signed and returned before their expiry date will be honoured by HSBC and RBC.

My mortgage is scheduled to mature on a non-business day, March 29, 30, or 31, and I’m aware that HSBC will no longer be in operation. What do I do?

If you have a mortgage maturing on March 29, 30 or 31, please sign and return your mortgage renewal document sent by HSBC Bank Canada as soon as possible, and no later than 4 business days before your maturity date. Documents should be returned to your HSBC Branch as instructed in your document. Your mortgage will then be renewed based on the terms you agreed upon. Renewal documents that are signed and returned before their expiry date will be honoured by HSBC and RBC.

I sent in my mortgage renewal to HSBC just before March 28^th, 2024. Will RBC receive my renewal instructions, or do I need to renegotiate with RBC?

If you received a mortgage renewal document from HSBC before March 28, 2024, and you signed and returned this document before its maturity date, RBC will honour the terms and conditions you agreed on with HSBC. There is no need to renegotiate with RBC. RBC will receive all signed mortgage renewal documents and will process these documents. Please keep a copy of your signed documents and expect a confirmation in the mail. Please allow up to two weeks after your mortgage maturity date to receive the renewal confirmation.

I sent in my mortgage renewal documents for processing and am waiting for my mortgage to be renewed. How soon will I see this reflected in my RBC Online Banking portal?

Your mortgage details should be viewable in RBC Online Banking within 5 business days of your renewal being processed.

My mortgage payment is due on April 1^st – will my payment still be processed properly by RBC on time?

RBC will process all payments as per their due dates. Please allow up to 10 business days for the updates to be reflected on your account.

My mortgage is up for renewal shortly after migration that’s happening March 28, 2024. Who will send me my renewal documents and when will I receive them?

HSBC will continue to send Mortgage Renewal documents 40 days before your mortgage maturity date until they close operations on March 28, 2024. This means that if your renewal date is within 39 days after HSBC closes operations, you will still receive an HSBC Mortgage Renewal document which you will be instructed to return to HSBC. If your mortgage renewal date is 40 days or more after March 28, RBC will send renewal documents to you. You may also be eligible to ‘Early Renew’ your mortgage with HSBC – please talk to your HSBC advisor for details.

I received my mortgage renewal document from HSBC but didn’t sign and submit them to HSBC prior to March 28, 2024. Will my renewal still be honoured if I sign and submit the document to RBC?

If your HSBC mortgage renewal documents have not expired and your maturity date hasn’t passed, you can sign and return them to RBC, and the terms will be honoured. Check the expiration date on your mortgage renewal document and make sure to return it before the expiration date.

I want to make sure I renew my HSBC mortgage before the migration happens on March 28, 2024. Can I renew early with HSBC to avoid any risks?

As a HSBC mortgage client, you may be able to renew your mortgage up to 120 days prior to your mortgage maturity date. Please talk to your HSBC advisor for more information.

Why are some of my insurances terminating and what options do I have?

Your coverage may have been terminated for different reasons such as it is not a coverage that is available from RBC Insurance. You may be able to apply for RBC creditor insurance coverage if you have an eligible lending product. The communication you have received/will receive will have more details. Please refer to that communication and follow the instructions provided. Please note that RBC cannot confirm your eligibility for coverage until the enrolment process opens 3 days after the migration date.

I received the simplified enrolment process for creditor insurance, what is it and when will I know that I am adequately covered?

You may be able to apply for RBC creditor insurance coverage if you have an eligible lending product. The communication you have received/will receive will have more details. Please refer to that communication and follow the instructions provided. Please note that RBC cannot confirm your eligibility for coverage until the enrolment process opens 3 days after the migration date.

How can I submit a claim on my existing insurance with mortgage/ Loans/Line of credit /Overdraft?

You will need to complete and submit a claim package to the insurance company.

If you are submitting a creditor insurance claim prior to migration day, please reach out to HSBC at 1-888-310-4722.

If you are submitting a creditor insurance claim on or after migration date, please contact RBC Insurance Service Centre at 1-855-379-5928.

Do I need to make any changes to my account from which my insurance premiums were taken out?

No, you do not need to make changes. Your creditor insurance premiums will be taken from your account with the payment of your mortgage / loan / line of credit and not as a separate debit. If your payments for insurance premiums are coming out of an existing HSBC Bank account, no action is required as it will be automatically come out from your RBC account upon migration.

Can I go back to paying my insurance premium separate from my mortgage/ line of credit or loan payment?

No, this option is not available at RBC. Going forward, premiums will be collected with your regular mortgage/line of credit payment.

Can I make a change to my premium payment date?

No, your premium payment date aligns with your mortgage or line of credit payment date and we are unable to change this date. If you wish to change your mortgage or line of credit payment date the insurance premium collection date would change as well.

Why are my premiums changing and how are they calculated?

Your insurance premium is changing as a result of the migration of HSBC Bank Canada insurance products to RBC.

For Mortgage Life insurance only – a partial return of premium is going to be sent to you as an offset to this increase for the first year.

Your premium is based on a combination of several factors including:

i. If you have a mortgage, the life insurance premium will be based on the premium rate for your age,and mortgage balance, as of the migration date
ii. If you have an LOC, the life insurance premium will be based on the premium rate for your age on the date your payment is due and your average daily debit balance during the statement period.
Please refer to the RBC Product Migration Guide – Section 3 for detailed information on the calculation of insurance premiums

I am currently on claim or have filed a claim, will I need to file a new claim and will my payments be interrupted?

No, you will not have to start a new claim and your payments will not be interrupted.

Will my Guarantor also be notified that their insurance coverage has been terminated?

Yes, your Guarantor will receive a notification of the discontinuation of their coverage with the Product and Service notification letter sent to them on a separate letter following this communication.

Creditor Insurance

What happens to my HSBC creditor insurance application for my new mortgage that was submitted with the HSBC mortgage application on or before February 29, 2024?

If your HSBC new mortgage and creditor insurance are approved by March 15, 2024, your creditor insurance coverage will migrate with the credit facility. Please note that the terms outlined in the RBC amendment to your HSBC certificate of insurance will apply to your coverage.

If your HSBC new mortgage is approved by March 15, 2024, but your creditor insurance application is pending decision, the application will migrate with the credit facility, and you will be notified of the decision by the insurer. Please note that the terms outlined in the RBC amendment to your HSBC certificate of insurance will apply to your coverage if approved.

The insurer will send you notification of the final decision on your creditor insurance application. You can contact HSBC at 1-888-310-4722 prior to migration for any inquiries on your application. If you have questions after March 28, 2024, please contact RBC Insurance Service Center at 1-855-379-5928.

Please be aware that any coverage/applications involving a guarantor or any product with more than 2 insured parties will not be migrated to RBC.

What happens if my HSBC mortgage application is not approved on or before March 15, 2024, and I have applied for creditor insurance on the mortgage?

You will be required to submit a new application for your mortgage and creditor insurance.

What happens to my HSBC creditor insurance application for my existing mortgage / line of credit that I applied for on or before migration?

If your application for creditor insurance is submitted and approved on or before March 22, 2024, your creditor insurance coverage will migrate with the credit facility. Please note that the terms outlined in the RBC amendment to your HSBC certificate of insurance will apply to your coverage.

If your application for creditor insurance is submitted on or before March 22, 2024, but your Creditor insurance application is pending decision, the application will migrate with the credit facility, and you will be notified of the decision by the insurer. Please note that the terms outlined in the RBC amendment to your HSBC certificate of insurance will apply to your coverage if approved.

The insurer will send you notification of the final decision on your creditor insurance application. You can contact HSBC at 1-888-310-4722 prior to migration for any inquiries on your application. If you have questions after March 28, 2024, please contact RBC Insurance Service Center at 1-855-379-5928.

Please be aware that any coverage/applications involving a guarantor or any product with more than 2 insured parties will not be migrated to RBC.

What happens to my creditor insurance application for a personal installment loan or a blended payment demand loan that I submitted on or before February 29, 2024?

Your application for creditor insurance, whether approved or not, will not be migrated to RBC, meaning you will not have coverage on your personal installment loan or blended payment demand loan. If your creditor insurance application was approved and your personal installment loan or blended payment demand loan was activated by March 21, 2024, your coverage will not migrate to RBC, but you may have the option to apply for RBC creditor insurance under a simplified enrolment process between April 1 and April 29, 2024. Starting April 1, 2024, you can contact the RBC Insurance Service Center at 1-855-379-5928 for more information.

What happens to my creditor insurance application for an overdraft or interest only demand loan that I submitted before February 29, 2024?

Your application for creditor insurance on an overdraft or interest only demand loan will not be migrated to RBC. RBC does not offer creditor insurance coverage on overdrafts or interest only demand loans so you will not have creditor insurance coverage on your credit facility.

Optional Travel Insurance

I purchased HSBC Travel Insurance underwritten by AIG Insurance Company of Canada (AIG), how do I contact them?

AIG’s travel insurance policies are administered by Travel Guard Group Canada, Inc. (Travel Guard). For assistance, please call Travel Guard at 1-877-202-3341.

I have a migrated Investment Advantage account (formerly HSBC World Selection Portfolio), how will my RIF payment be processed?

The RIF payment will be withdrawn from the most conservative fund or pool in your portfolio at the time the payment is processed. If you prefer to choose the investments from which your RIF payment should be made or wish to make changes to the payment amount or frequency, please speak with your Relationship Manager Planning Specialist, Financial Planner, Private Banker or Invest-By-Phone select advisor.

Will my HSBC mutual funds and pooled funds change?

HSBC Mutual Funds and HSBC Pooled Funds will be renamed*. There will be no change to the investment objectives, investment strategies, or the calculation of the Management Expense Ratio (MER) at migration. Mutual Fund minimums will remain the same. *Learn more about your fund migration at www.rbc.com/hsbc-canada-legal (Opens link in new window)

Are you going to make any changes to my Registered Retirement Income Fund (RRIF)/Life Income Fund (LIF) payments?

The total annual payment from your RRIF/LIF will remain unchanged once it migrates to RBC. However, the frequency and payment date may change once your account has migrated to RBC. Please refer to payment mapping chart for further details at www.rbc.com/hsbc-canada-legal (Opens link in new window). If your RRIF payment instructions are changed, you will receive a notification with the details of the new instructions after migration.

Will there be any tax consequences when my HSBC mutual funds migrate to RBC?

No, there will not be any tax implications triggered at migration. Your HSBC mutual funds will be transferred in kind to Royal Mutual Funds Inc. (RMFI) or RBC Dominion Securities (RBC DS). However, transactions done before or after migration could result in a taxable event.

Will there be any changes to my pre-authorized contribution (PAC) or systematic withdrawal (SWP) instructions when migrated to RBC?

Your existing pre-authorized contribution (PAC) or systematic withdrawal plan (SWP) instructions at HSBC Investment Funds (Canada) Inc. (HIFC) may be: 1) migrated to your Royal Mutual Funds Inc. (RMFI) and/or RBC Dominion Securities (DS) account; 2) migrated but subject to change due to differences in frequency options; or 3) cancelled.

In the event that your PAC or SWP instructions are changed or cancelled, you will receive a notification after migration with the details of the new instructions or cancelled instructions.

Note: If you have an address outside of Canada your PAC instruction will be cancelled. To find out more information please refer to the HSBC microsite or the RBC Product Migration Guide section 4.

Can my investment account with HSBC Investment Funds (Canada) Inc. be merged with my existing RBC investment account?

You may be able to combine your RBC investment accounts. Speak to a licensed investment advisor to learn more.

How will I receive my tax slips for 2023?

Paper copies of your 2023 tax slips will be mailed to you as you will no longer have access to the HSBC Bank Canada online banking platform after migration.

Will my HSBC World Selection Portfolio change?

Yes. Your HSBC Mutual Funds and Pooled Funds held in your HSBC World Selection portfolio will be transferred in-kind to the RBC Investment Advantage (IA) program. The IA program offers strategic, programmed auto-rebalancing to maintain alignment to the strategic asset allocation suitable for your investor profile. The IA program does not provide discretionary investment management or tactical asset allocation. You will receive equal or better pricing for at least 12 months following the migration to your migrated IA account.

Will my HSBC Wealth Compass Funds change?

Yes. Your HSBC Wealth Compass Funds will be migrated in-kind (as is) into a corresponding RBC advice-based investment account at RMFI under a new name – RBC Indigo Strategic Funds. The Wealth Compass dashboard will no longer be accessible after migration, however, you will have access to RBC online services including MyAdvisor. Accounts migrating to Royal Mutual Funds Inc. will operate under the RMFI account agreement, for accounts migrating to RBC Dominion Securities, the account will operate under the RBC DS account agreement.

I was receiving payroll contributions in a Group RRSP account at HSBC Bank Canada, will the payroll contributions migrate to RBC?

As long as your employer migrates the plan and payroll contributions to RBC your payroll contributions will also migrate. If you are receiving employer payroll contributions in a Group RRSP World Selection Portfolio account at HSBC Bank Canada, you will need to open a new Group RRSP account at RBC after the migration to continue receiving ongoing contributions. Please refer to the RBC Product Migration Guide section 4 for additional information.

I am not a resident of Canada; will I be able to continue to invest and maintain my relationship when my accounts move to RBC?

Existing investment clients can continue to maintain their holdings and relationship. However, non-resident clients will be unable to process future purchases or switches and will be restricted to hold or redeem only.

How do I get my tax slips?

Tax slips for 2023 and the first 60 days of 2024 will be mailed to you from HSBC before migration. Please retain these paper copies for your records.

How do I access my investment account statements?

HSBC Statements will be issued up until the time of transfer to RBC, please download or retain copies of your investment account statements ahead of the transfer. RBC Statements are issued quarterly based on your delivery preference.

What will happen to my pre-authorized contributions and/or Systematic withdrawal instructions?

Pre-authorized contributions or Systematic Withdrawal instructions will be maintained wherever possible; however, the date or frequency may be subject to change.

Where instructions are modified, changes will be made to mitigate any negative impacts to frequency and/or amount.

For accounts migrating to RBC Dominion Securities Pre-authorized contributions / Systematic Withdrawal instructions will resume starting April 15, 2024.

What does the move of my World Selection Portfolio to RBC Investment Advantage mean?

The move to RBC Investment Advantage means that your existing holdings will be transferred in kind, your existing fee rates will remain the same or better, and you could benefit from family grouping for additional fee savings for you and your inner circle.

You will be able to maintain your existing underlying holdings, however there will no longer be tactical discretionary management of your portfolio. The portfolio will continue to be strategically rebalanced to align to the investment objective (asset allocation) of the portfolio.

Will my fees change under the RBC Investment Advantage Program?

No, your RBC Investment Advantage fee rate schedule will be the same or lower than your current fee schedule at HSBC (HIFC) for at least 12 months following the migration to RBC as long as you continue to maintain your investment account balances and holdings.

I have auto-switch (scheduled switch) instructions on my account will the instructions be maintained?

Auto-Switch instructions will be cancelled at migration, please call or speak to your licensed mutual fund advisor to re-establish these instructions after migration.

My RRIF payment is scheduled for (migration weekend), will I still receive it?

Yes, your RRIF payment for the period March 29-March 31^st will be paid out in advance of migration by HSBC.

Please refer to the microsite for the RRIF payment schedule following the migration.

One or multiple of my account(s) are migrating to RBC Dominion Securities what does this mean?

RBC Dominion Securities Service Desk is a service offering made temporarily available to HIFC clients that can service and hold accounts and products not currently available at RBC branches (RMFI).

PLEASE NOTE: Only accounts that meet the following criteria will be migrated to RBC Dominion Securities. All other accounts will be migrated to RMFI in kind:

Joint RESP (joint subscribers)
Accounts Market Linked GIC(s)
Registered accounts holding US Dollar Mutual Fund(s)
Registered accounts with US Dollar cash balance(s)

Accounts that are transferring to RBC Dominion Securities, will be serviced by a remote investment advisor by phone. Please consult your advisor if applicable or book an appointment with a mutual fund advisor after the transfer to review your options at an RBC branch (RMFI).

What is the rebalancing threshold for World Selection Portfolios migrated to RBC Investment Advantage and can this be changed?

World Selection Portfolios migrated into RBC Investment Advantage will be set up with quarterly rebalancing with a 2% drift threshold. This means that if the portfolio has drifted beyond 2% of the target asset allocation on the quarterly rebalancing date, the holdings will be rebalanced back to the target asset allocation. Portfolio monitoring with quarterly rebalancing cannot be removed or changed as long as the client remains invested in the migrated Investment Advantage Account.

Will my HSBC Bank Canada GICs still be covered by CDIC once they are migrated to RBC?

Yes. However, you may experience some changes. Insured deposits by a Shared Client at any HSBC Entity and RBC before the acquisition continue to be insured separately, up to $100,000 per Shared Client per category, as if the acquisition had not taken place. The amount of separate coverage will continue for a period of two years and is reduced by any withdrawals made from those separate deposits, or as Term Deposits mature (or are redeemed). To learn more about deposit insurance and how to maximize coverage please visit https://www.rbc.com/hsbc-canada/cdic.html.

What will happen to my HSBC Bank Canada Market-Linked GIC?

Your HSBC Bank Canada Market-Linked GIC (MLGIC) will change from NBC/HSBC MLGICs to NBC MLGICs. “NBC” refers to National Bank of Canada, the issuer of your MLGICs. The MLGIC will be migrated to RBC Dominion Securities and operate under the RBC Dominion Securities Account Agreement. The existing terms and conditions of the NBC MLGIC will remain the same. After migration, your account balance(s) can be accessed through RBC Online Banking.

What happens to my HSBC Bank Canada GIC/Term Deposit at renewal?

Your HSBC Bank Canada GIC/Term Deposit will renew into an RBC GIC that we currently offer in your respective registered plans and non-registered accounts. As your GIC comes up for renewal at RBC, you will receive information about available rates and the opportunity to discuss your investment options with an RBC advisor. Any new purchases or renewals will be serviced under the standard RBC GIC terms and conditions. Refer to Section 4 of the RBC Product Migration Guide and your RBC Product Summary client letter for more details.

Will any of my HSBC Bank Canada GIC or Term Deposit features be changing upon migration?

Your HSBC Bank Canada GICs and Term Deposits will be coming over to RBC "as is" meaning the fundamental GIC attributes will remain the same (issue date, maturity date, interest rate). Some amendments to HSBC’s Terms & Conditions as well as adjustments to maturity instructions may have been made. These provisions are outlined in Section 4 of the RBC Product Migration Guide. Please refer to the guide for more details.

My HSBC Bank Canada GICs in my RRSP and RRIF plans and USD Term Deposits are being switched to a non-redeemable GIC at RBC. Will I still be able to redeem them in the same way I did at HSBC?

You will be able to redeem (full and partial) the migrated HSBC Bank Canada CAD GICs in RRSP and RRIF plans. In case of a partial redemption, the RBC minimum investment amount required, as defined by RBC, must be maintained; otherwise, it will have to be fully redeemed. For USD Term Deposits, only full redemptions are allowed.

What are my options when my HSBC Bank Canada redeemable GICs are transferred over to RBC?

If your HSBC Bank Canada GIC is redeemable, you can redeem it at any time after migration. Should you choose to reinvest, you will need to meet RBC’s standard GIC terms and conditions, including minimum investment requirements.

Will my HSBC Bank Canada GIC or Term Deposit maturity date and/or interest rate be honoured once it’s migrated to RBC?

Your HSBC Bank Canada GICs and Term Deposits will be coming over to RBC "as is" meaning the fundamental GIC attributes will remain the same (issue date, maturity date, interest rate). Some exceptions may apply. Please note that any advisor-guaranteed/quoted rate related to upcoming renewals or new purchases provided by HSBC Bank Canada before migrating to RBC may not be honoured. Refer to Section 4 of the RBC Product Migration Guide and your client letter for more details.

What interest rate will I receive on my HSBC Bank Canada Savings account once it migrates to RBC?

The interest rate you receive on your RBC savings account(s) may be different than the rate(s) you received at HSBC Bank Canada. For the current regular interest rates and interest-related information applicable to Personal Deposit Accounts, see the interest rate disclosures on the RBC website at royalbank.com/rates (Opens link in new window).

I have questions or actions I’d like to take on my HSBC Bank Canada GIC or Term Deposit. Who should I speak to?

Before your HSBC Bank Canada GIC or Term Deposit migrates to RBC, please speak with HSBC Bank Canada if you have any questions or would like to make any changes related to your investment accounts. After migration, you can contact RBC.

Will I receive a new agreement once my HSBC Bank Canada GIC or Term Deposit has been moved over to RBC?

Since the fundamental attributes of your HSBC Bank Canada GIC will be maintained (term, rate, redeemability), no new agreement is required. While no new agreement is required, there are some specific changes to your HSBC Bank Canada agreement that are outlined in the RBC Product Migration Guide section 4.

Can I break my GIC at HSBC Bank Canada early (prior to migration) without penalty?

HSBC Bank Canada’s terms and conditions will be maintained leading up to and through migration. Please refer to the relevant section of your HSBC Bank Canada terms & conditions to understand whether your HSBC Banks Canada GIC/term deposit can be redeemed early or not.

I own a registered plan that holds GICs. What are my payout options at RBC as my GIC reaches maturity?

Upon maturity, a GIC can either be switched to another investment (New GIC or mutual fund) or moved to Savings Deposit (a cash holding that earns interest). If the funds are available for redemption or withdrawal, you may transfer funds to your bank account outside of your registered plan. Please note that transfers out of your registered plan may incur tax consequences. Please see more details regarding maturity instructions for your specific GIC in the RBC Product Migration Guide (Section 4).

Can I redeem my GIC without penalty after it’s been migrated to RBC?

Your HSBC Bank Canada GIC will be transferring to RBC in kind, meaning your fundamental GIC attributes will remain the same. This means that if your GIC was redeemable without penalty at HSBC Bank Canada, no penalty would be charged should you decide to redeem it early post-migration. On the other hand, if you held a non-redeemable GIC at HSBC Bank Canada, and decide to redeem it before maturity post migration, a penalty may be charged.

How often will I receive my GIC account statements at RBC?

RBC distributes GIC account statements annually (as of December 31^st). A semi-annual statement is also issued if:

Your total account holdings are > $50,000 at any time between January 1^st and June 30^th, or;
You have initiated activity on the account between January 1^st and June 30^th.

Note that if you hold a mutual fund in the same account, then you will be receiving account statements on a quarterly basis.

What types of GICs does RBC offer?

RBC offers a variety of GIC solutions. For more information, please visit our public website at rbcroyalbank.com/investments/gics.html

I own a redeemable USD Term Deposit at HSBC Bank Canada, which is migrating to a non-redeemable USD Term Deposit at RBC. Will I still be able to redeem when I want to?

As a holder of a Redeemable U.S. Dollar Term Deposit at HSBC Bank Canada, you will maintain your ability to redeem your GIC without penalty. For more information, please speak with an advisor after migration.

How and where will I find information on my newly migrated GIC(s)?

Please review your RBC Product Migration Guide (Section 4) for more information on your specific GICs that will be transferring over. Once migrated, you will be able to view your GIC details via statements, online banking, mobile banking, in branch or over the phone.

I have an HSBC Bank Canada Term Deposit being migrated to an RBC Redeemable GIC. What are the key characteristics of the RBC Redeemable GIC?

If you hold an HSBC Bank Canada Term Deposit that is being migrated to a Redeemable GIC, you will inherit RBC's redemption policies. This means you may be entitled to some interest upon redemption as RBC utilizes an early redemption rate, which is lower than the original interest rate in your contract. If you have any questions prior to migration, you are encouraged to speak to your HSBC Bank Canada advisor/relationship manager regarding HSBC Bank Canada's redemption policies. After migration, should you have any questions, please reach out to an advisor, who can tell you more about RBC's redemption policy and the early redemption rate that applies to you.

Important Information

What do I do if I have misplaced or haven’t received my RBC credit card?

Please call 1-800-769-2511 if you would require a new credit card sent to you. As call wait times may be longer than usual between March 28 and April 5, and if a 7-10 day delivery suffices, you can submit a request through RBC Online Banking (under “replace card”), or visit your local RBC branch.

If you need access to your credit card in the meantime, Apple Pay may work as a temporary option, however, it may not accepted at all merchants. This will only work on Apple (iOS) devices, enrollment into Samsung Pay or Google Pay will require your physical card on hand.

As of April 1^st, if you do not have a physical credit card on hand, you can set up Apple Pay through the Apple (iOS) version of the RBC Mobile App. Go to the credit card product page and select Manage card (top right) and under services select “Add to Apple Pay”. The credit card does not need to be activated to use the card through Apple Pay.
You will be able to complete in-store purchases, where merchants accept Apple Pay, for transactions $250 and under. You will also make online/ecommerce purchases, if the merchant accepts Apple Pay, with no transaction limit.

How do I activate my Card?

Once you receive your RBC credit card, follow the steps at rbc.com/activatecard (Opens link in new window) to activate. On, or after, April 1^st, you can also activate through the RBC mobile app, RBC Online Banking, or by calling 1-800-769-2511.

What is the PIN for my credit card?

Please refer to the PIN Information Box located in the top right corner of the welcome letter your physical credit card came on.

I can’t find my PIN information or I’d like to change my PIN, what should I do?

If you don’t know your PIN, or you’d like to change it, you can visit your local RBC branch to reset your PIN on or after April 1, 2024. You must bring two pieces of ID with you to the branch. If you are outside of Canada, please call 1-800-769-2511 on or after April 1^st.

Using Your RBC Credit Card

When should I start using my RBC credit card?

Once activated, you can start using your RBC credit card on April 1, 2024.

Continue to use your HSBC Bank Canada credit card until this date.

When will my HSBC Credit Card stop working?

Your HSBC credit card will stop working at 11:59 PM EST on April 1^st. To avoid any disruption please ensure you have activated the RBC credit card sent to you, carry the card in your wallet, and have your PIN information on hand.

Will RBC and / or HSBC call me about my RBC Card?

RBC and HSBC Bank Canada may call you to remind you to activate your RBC credit card, however, they will never ask you to provide, confirm or verify personal, login or account information, or ask you to sign into any online service.

Why did I get migrated to an RBC card I already have?

Your HSBC Credit Card was replaced with the closest comparable RBC credit card. Your existing RBC card will be maintained as is. If you’d like to switch or close one of your Cards, please visit your local RBC branch or contact the 1-800-769-2511 after April 2, 2024.

I am being migrated to a Visa Card; can I use it at the same merchants I use my MasterCard at?

Visa and MasterCard are both widely accepted, globally. Most merchants who accept MasterCard also accept Visa as a form of payment.

If you are concerned about Visa acceptance at Costco or another specific merchant, please note RBC offers both Visa and MasterCard credit cards. If you would like a MasterCard credit card you can apply an RBC MasterCard anytime or seek to product transfer from your replacement card to a Mastercard on or after April 2^nd. Please note if you choose to switch, some of the features and benefits on the RBC card you were migrated to may differ from the card you switch to, and some may not be available to switch back to.

You can also use your Debit card (Client Card) at all Canadian merchants.

Why didn’t all of my authorized users’ credit card(s) arrive with my card?

We can only accommodate a maximum of two credit cards per envelope. If you have more than two cards on your account, the additional cards will be mailed separately and should arrive shortly.

If you have not received your remaining card(s) card by March 18, please call us at 1-800-769-2511.

I’m traveling and won’t receive my RBC credit card; can I have the card mailed to an alternate address?

Requests made for temporary addresses will be accommodated if they were submitted by February 5^th. Unfortunately, we have no ability to re-direct cards to a different location if the request was not submitted. If you are unable to make alternate arrangements to retrieve your credit card from the address to which your card was sent to please see the below options:

After March 18^th, 2024, please call RBC at 1-800-769-2511 to request a new card to be mailed to you. Please note, you will need to be at the temporary address until April 15^th to receive the card.
Consider Apple Pay as a temporary option, noting this is not accepted at all merchants, see below for details. Please note, the following example is only for Apple Pay when initiating enrollment from the RBC Mobile App. Enrollment into Samsung Pay or Google Pay will require your physical card on hand.

As of April 1^st, despite not having your credit card on hand, please go into the Apple (iOS) version of the RBC Mobile App. Go to the credit card product page and select Manage card (top right) and under services select “Add to Apple Pay”. The credit card does not need to be activated to use the card through Apple Pay.
You will be able to make in-store purchases with Apple Pay where merchants accept Apple Pay for transactions $250 and under. You will be able to make ecommerce purchases with your card through Apple Pay if the merchant accepts Apple Pay, with no transaction limit.

Managing Your RBC Credit Card

If I currently have an RBC credit card in addition to an HSBC Bank Canada credit card, will I be issued another RBC credit card?

Yes, you will be issued another RBC credit card to replace your HSBC Bank Canada credit card, even if you already have an existing RBC credit card. More details on the specifics of your products and services—including when to expect your replacement RBC debit card and/or credit card—will be available in the coming months.

What if I want a different RBC credit card than the one I received?

If you would like to switch to a different RBC credit card than the one you received, you can do so on or after April 2, 2024, by going to rbc.com/switchyourcard (Opens link in new window), calling us at 1-800-769-2511 or visiting your nearest RBC branch.

If you choose to switch, please be aware that the features and benefits of the RBC credit card you were migrated to may differ from those of the card you switch to, and some cards may not be available to switch back to.

Will my RBC credit card have the same coverages as my HSBC credit card?

As coverage may vary from your HSBC credit card, please familiarize yourself with your RBC credit card coverage details. Details are included with your RBC Welcome kit and also available online rbc.com/carddocs.

My credit card is currently in collections - will I be migrating to RBC?

Yes -- though you will not receive a physical credit card. Details about how to continue to make payments will be provided.

I received two notices about my credit card, what card will I receive from RBC?

Please disregard the first letter you received about the credit card migration and refer to the most recent letter to find out what credit card you will receive. If you require further clarification, please call us at 1-800-769-2511.

What if I want to make a payment to my credit card close to the migration date?

Please continue to direct bill payment(s) to your HSBC credit card number until March 31, 2024. You can make payments through HSBC channels (e.g. Online Banking, Branch) until Wednesday March 27, 2024. If you make your payments from any other financial institution (including Royal Bank of Canada), you can continue to direct payments to your HSBC credit card account between March 28 and March 31.

I have recurring payments to merchants set up on my HSBC Bank Canada credit card. Will these continue uninterrupted?

Your credit card details are changing. On or after April 1, 2024, once you have activated your RBC credit card, please contact all merchants (e.g. streaming service subscriptions, fitness membership fees, insurance payments, etc.) with whom you have a recurring monthly, quarterly or annual payment arrangement and provide your updated 16-digit RBC credit card number, expiry date and/or CVV to ensure there are no payment interruptions.

How do I make payments to my RBC credit card?

Starting April 1, 2024, you will be able to pay your RBC credit card bill easily via RBC Online Banking or the RBC Mobile app.

To pay your credit card using funds from an RBC bank account, simply transfer the funds from your RBC bank account to your RBC credit card account. Visit rbc.com/hsbc-canada for detailed instructions and tutorials on how to enrol in RBC Online Banking.
To pay your credit card using funds from a bank account at another financial institution, you must register the RBC credit card account as a “Bill Payment” to make a payment.

You can also make payments at an RBC ATM or RBC branch, by mail or by calling us at 1-800 ROYAL^® 1-2 (1-800-769-2512).

To make payments by mail, please follow the instructions on the tear-off portion of your RBC credit card statement.

I pay my HSBC Bank Canada credit card automatically each month using the Pre-Authorized Debit Plan. Will my automatic monthly payment preferences be migrated to RBC?

Yes, your existing automated monthly payment for your HSBC Bank Canada credit card will migrate to your RBC credit card. Your automatic payment will continue to be applied every month on your payment due date unless you choose to make changes.

Will my RBC credit card payment due date be the same as it was at HSBC Bank Canada?

Your payment due date may change. You can find your payment due date on your RBC credit card statement or through the RBC Mobile app. For all payments made on or after March 31, 2024, please direct your payment to RBC.

Will my credit card statement date be the same after the migration?

Your credit card statement date may change. If it does it will be around the same time of the month as it is currently.

I currently receive my monthly HSBC Bank Canada credit card statement electronically. Will this continue?

By default, your RBC credit card statement will be mailed to you. Please ensure your mailing address is up to date. If you prefer paperless eStatement delivery, you can easily switch through RBC Online Banking or the RBC Mobile app on or after April 1, 2024.

Where can I find my transactions made on my HSBC Card?

As of April 1^st, you will be able to view your balances and transactions through RBC Online Banking (OLB) and the RBC Mobile App. There may be a delay of a few days in transactions made on your HSBC card after March 28^th appearing in RBC digital banking.

Please note, transactions that were visible in HSBC digital channels prior to March 28^th will not appear in your RBC transaction summary in RBC Online Banking or the RBC Mobile App. These transactions will appear under Statements / Documents, found on your Accounts Summary page in RBC Online Banking.

What should I do if I missed my payment around migration weekend?

Please make your payment as soon as possible. To assist you with the migration, if your payment due date is/was between March 28 and April 2, you will not be charged interest on your March statement’s purchases as long as you pay/paid your Statement Balance from your March statement in full by April 3. You can confirm your payment due date on your March HSBC Bank Canada credit card statement, in RBC Online Banking, or RBC Mobile Banking.

How do I add an additional user to my migrated credit card?

If you are the primary card holder, you can add authorized user(s) to your credit card(s) through Online Banking (OLB).

While logged into OLB Open the Account Details page of the credit card the authorized user is being added to. Unfortunately, co-applicants cannot be added to any migrated credit cards.

Rewards

What rewards benefits are available with my RBC credit card?

When you join RBC, you will have access to the RBC loyalty program, Avion Rewards. Based on the product you hold, some of the benefits of the program include:

Market-leading travel offerings
An innovative shopping companion, Avion Rewards ShopPlus
Cash-back deals
The ability to redeem Avion points for gift cards, merchandise, financial rewards, and more
Offers from our extensive network of Avion Rewards retail partners

What happens to my HSBC Rewards redemptions already submitted? Can I make changes to my travel bookings?

For any enquiries or changes related to travel bookings with your former HSBC credit card, please contact the following numbers:

Responsive Table Example
Former HSBC Credit Card	Rewards Redemption Phone #
HSBC World Elite Mastercard HSBC +Rewards Mastercard HSBC Travel Rewards Mastercard HSBC Cash Rewards Mastercard	1-888-560-4722
HSBC Premier Mastercard HSBC Premier World Mastercard HSBC Premier World Elite Mastercard HSBC Metal World Elite Mastercard	1-866-611-4722
HSBC Retail Mastercard HSBC Gold Mastercard HSBC Advance Mastercard HSBC Business Vantage Mastercard	1-866-688-4722

How do I redeem points as an Avion member?

To learn all the ways you can redeem Avion points, please visit avionrewards.com or log in to the Avion Rewards app.

I currently earn cash back with my HSBC Bank Canada credit card. What will happen to the cash back I earned?

If you earn cash back with your current HSBC Bank Canada credit card, you will be migrated to an RBC credit card that earns cash back rewards, and you will automatically become a member of the RBC Cash Back Program. Any outstanding cash back you earned with your HSBC Bank Canada credit card will be migrated to your RBC credit card account.

Once your cash back balance reaches $25 or more on your RBC cash back credit card account, you can receive the credit in one of two ways:

It will automatically be credited to your credit card account in January of any given calendar year; or
You can have the full amount credited to your credit card account by calling 1-800 ROYAL 1-2 any time after the migration.

I currently earn rewards points on my HSBC Bank Canada credit card. What will happen to my points?

If you earn HSBC Rewards points with your current HSBC Bank Canada credit card, you will be migrated to an RBC credit card that earns Avion^® points.

Any unused points will be converted to an Avion^® points balance that will have equal or higher value in the Avion Rewards flexible travel redemption category, which is similar to how you book travel today. You will receive a detailed email which includes your points balance, associated value, and details regarding redemption options. Full access to Avion Rewards will be available via avionrewards.com or the Avion Rewards™. Full access to Avion rewards will be available via avionrewards.com or the Avion Rewards™ app with your new RBC Online Banking credentials.

When will I know my RBC points balance?

Your RBC Avion points balance will be available within one week after the migration date. You will receive a detailed email which includes your points balance, associated value, and details regarding redemption options. Full access to Avion Rewards will be available via avionrewards.com or the Avion Rewards™ App. You will also be able to review your balance in the Avion Rewards App, RBC Online Banking, Mobile Banking, and on your next credit card statement.

When will I see my updated cashback balance?

You will see your updated cashback balance [(migrated cashback balance + newly earned cash back since migration) less (any redemptions)] on your first RBC credit card statement after migration. At that time, you will also be able to view your updated cashback balance in RBC Online Banking.

How do I know if I received an Avion Rewards Travel Credit and where do I find my balance?

If you were eligible for a Travel Enhancement Credit with your former HSBC Canada credit card, you will also receive an Avion Rewards Travel Credit. Your “Welcome to Avion Rewards” email which you will receive within one week of migration, will include your balance and details on how to use your credit.

Additionally, if you are eligible, you can find information on how to redeem your Travel Credit on AvionRewards.com, he Avion Rewards Mobile App, and Online Banking under Offers.

How can I redeem my Avion Points?

To redeem your points, sign into Avionrewards.com or through the Avion Rewards App, then select either “Travel “or “Redeem” in the navigation bar or menu.

Travel tab - Go here to use your points for flights, hotels, vacation packages, car rentals and more.
Redeem tab - Go here to use your points for anything other than travel, including: Merchandise and gift cards in the Avion Rewards catalogue, Donations to charity, RBC Financial Rewards, Convert points to partner loyalty programs, Pay with points

I am an Avion Visa Infinite for Private Banking Cardholder, how do I access my lounge passes?

You must download the Visa Airport Companion app and enroll using your RBC Avion Visa Infinite Privilege for Private Banking credit card to access your complimentary lounge visits.

Note: You can access Visa Airport Companion the later of i) April 1, 2024 or ii) the date you activate your RBC credit card.

Why is my points balance different from my ending HSBC balance?

Your HSBC points have been converted to Avion points. While your points balance may look different, rest assured that your Avion points are of equal or higher value. You can find details on your travel redemption value and other redemption options in your “Welcome to Avion Rewards” email. Please visit Avionrewards.com or the Avion Rewards App to view your redemption options.

Insurance

If my HSBC credit card includes Emergency Travel Medical Insurance and I purchase a trip on or before March 28, 2024, for travel with a departure date on or after March 29, 2024, will I have Emergency Travel Medical Insurance?

You will not have Emergency Travel Medical Insurance through your HSBC credit card if your travel departure date is on or after March 29, 2024.

However, you may have coverage through your RBC credit card if your RBC credit card includes Emergency Travel Medical Insurance and your travel departure date is on or after March 29, 2024.

Please familiarize yourself with your RBC credit card coverage details as coverage may vary from your HSBC credit card. Details are included with your RBC Welcome kit and also available online rbc.com/carddocs

What happens to the insurance coverage I had with my HSBC Bank Canada credit card or optional HSBC Bank Canada Travel & Medical insurance?

Your current HSBC Bank Canada credit card insurance and any optional HSBC Bank Canada Travel & Medical insurance will come to an end on March 28, 2024. However, you will continue to be covered for eligible purchases made on your HSBC Bank Canada credit card on or before March 28, 2024, as well as eligible medical emergencies for trips with departure dates on or before March 28, 2024.

Your RBC credit card insurance coverage(s) will come into effect on March 29, 2024. For information on how to submit a claim, please visit rbc.com/hsbc-canada (Opens link in new window).

Where can I find information on the insurance coverage included with my RBC credit card?

Insurance coverage details can be found in the Certificate of Insurance.

A copy of the Certificate of Insurance for your specific credit card is also available at rbc.com/carddocs (Opens link in new window).

Can I purchase travel insurance in addition to the insurance coverages that are included with my RBC credit card?

Yes, if you require any travel insurance or additional travel insurance coverage, as of March 29, 2024, visit rbc.com/cardtravelcoverage or call 1-866-292-5233 to obtain a quote.

If I make an eligible purchase (i.e. a trip or an item) on my HSBC credit card on or before March 28, 2024 and an insurable event/ claim arises on or after March 29, 2024, will I have coverage through my HSBC credit card?

Yes, you will continue to be covered for eligible purchases made on or before March 28, 2024, through your HSBC credit card coverage if your date of loss occurs on or after March 29^th, 2024

The above statement applies to the following coverages if included with your HSBC credit card:

Trip Cancellation
Trip Interruption / Delay
Baggage Delay or Loss
Hotel/Motel Burglary
Flight Delay
Car Rental Insurance
Common Carrier Accidental Death and Dismemberment
Purchase Assurance
Extended Warranty
Mobile Device

If I purchased annual Optional Travel and Medical coverage on my HSBC credit card and I purchased trip(s) on or before March 28, 2024, for travel with a departure date on or after March 29, 2024, will I have Emergency Travel Medical Coverage?

No. Your HSBC Optional Travel and Medical Insurance will terminate as March 28, 2024. If you are travelling on or after March 29, 2024, you will not have Emergency Travel Medical coverage through your HSBC Optional Travel and Medical Insurance.

However, you may have coverage through your RBC credit card if your RBC credit card includes Emergency Travel Medical Insurance and your travel departure date is on or after March 29, 2024.

Please familiarize yourself with your RBC credit card coverage details as coverage may vary from your HSBC credit card. Details are included with your RBC Welcome kit and also available online rbc.com/carddocs

If your RBC credit card does not include Emergency Travel Medical Insurance, as of March 29, 2024, you can visit rbc.com/cardtravelcoverage or call 1-866-292-5233 to obtain a quote.

If I purchased annual Optional Travel and Medical coverage and I purchased a trip(s) on or before March 28, 2024, for travel with a departure date on or after March 29, 2024, will I have Trip Cancellation & Interruption as well as Baggage Delay or Loss Insurance coverage?

Yes, you will continue to be eligible for Trip Cancellation & Interruption as well as Baggage Delay and Loss Insurance coverage through the HSBC Optional Travel & Medical Insurance that you purchased if you purchased the trip on or before March 28, 2024.

Why do I need to complete new forms for my migrated HSBC InvestDirect account(s)?

Under Canadian securities law requirements, we are required to ask you to update and validate the information we have on file for your migrated account(s), and to ask you to complete certain forms and agreements for your migrated account(s) within a specific time frame.

If you have margin and/or option accounts, forms must be completed and submitted no later than November 27, 2024. Forms for other account types can be submitted before March 31, 2026.

Log in to your RBC Direct Investing account to learn more about accessing and completing your RBC Direct Investing account forms. From the Explore menu, select “About your HSBC accounts.”

What will my commissions & fees be when my account(s) are migrated to RBC Direct Investing?

The pricing you currently receive for core trading at HSBC InvestDirect will be honoured for your migrated HSBC InvestDirect accounts for a minimum of 12 months. There are many cases where you will receive better pricing at RBC Direct Investing and a limited number of instances where RBC Direct Investing calculations will differ. For more details, please refer to the RBC Product Migration Guide section 4 page 95 and www.rbcdirectinvesting.com/pricing.

At RBC Direct Investing, all commissions and fees are charged to the RBC Direct Investing account(s). You will not have the ability to charge them to a bank account (either an account at RBC or from another financial institution). To learn how to transfer funds to your RBC Direct Investing account, check out the videos on this page.

I currently have HSBC Private Client Service; Premier; Advance and/or Active Trader status (as applicable) at HSBC InvestDirect. Will my status migrate to RBC Direct Investing?

As a Private Client Service, Premier or Advance client at the time of migration you will become a member of Royal Circle^® and receive exclusive membership benefits such as priority access to our most experienced RBC Direct Investing representatives, premium research, and preferred rates for your investing borrowing needs. Learn more www.rbcdirectinvesting.com/royal-circle.html (Opens link in new window).
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https://www.rbcplacementsendirect.com/cercle-royal.html (Opens link in new window)

If you hold an Active Trader status at the time of migration (that is, you trade 150+ times during the trading period):

You will receive Active Trader status at RBC Direct Investing and the pricing you currently receive at HSBC InvestDirect will be honoured. Learn more about the benefits associated with the Active Trader program including access to exclusive research. Learn more
https://www.rbcdirectinvesting.com/active-trader.html (Opens link in new window)

I am an existing RBC Direct Investing client and I also have accounts with HSBC InvestDirect. What will happen to my HSBC InvestDirect accounts when they are migrated over to RBC Direct Investing?

Your HSBC Canada InvestDirect account(s) will be added separately to your existing RBC Direct Investing client profile. This means that you may continue to use your existing RBC client number to access all of your accounts (existing RBC Direct Investing and migrated HSBC InvestDirect) online and through the RBC Mobile app.

A ‘Support page’ is available to you with frequently asked questions. To access it, log on to rbcdirectinvesting.com and click on the ‘Explore’ tab.

Will my Standing Payment and Pre-Authorized Contribution Instructions migrate from HSBC InvestDirect to RBC Direct Investing?

Note that some information about Pre-Authorized Contribution (PAC) instructions has been updated from what appears in the Product & Service Notification Guide. Please refer to the details below for the most up-to-date information.

Your Pre-Authorized Contribution instructions (PAC) from your HSBC Bank Canada account(s) to your HSBC InvestDirect account(s) will migrate to RBC Direct Investing but may be subject to change after migration due to differences in RBC Direct Investing’s frequency and/or payment date options.

The following will be amended upon transition:

Weekly PAC instructions on your registered account, your payment date will automatically be changed to be paid out every Friday.
Bi-weekly and semi-monthly PAC instructions on your registered account, payment date will be on the 15^th and end of the month following the migration date.
Monthly PAC instructions on your registered account, payment date will be on the 15^th day of the month following the migration date
For all non-registered PAC instructions, all payment amount and frequency will remain the same.
If you have an Automatic Funds Transfer (AFT) on your Sweep Account, upon migration your weekly AFT payment will revert to the first business day of the week.

Please note, if you have existing PACs from a non-RBC or non-HSBC Bank Canada bank account to your non-registered accounts, these will not be migrated to RBC Direct Investing. Existing PACs from a non-RBC or non-HSBC Bank Canada bank account to your registered accounts will be migrated.

Split Currency Payment Instructions (applies to RRIF and related accounts)

If you receive your regular scheduled payment in either 100% Canadian or 100% U.S. dollar, there will be no change.
If you receive a regularly scheduled payment in a combination of Canadian and U.S. dollars, this will change to Canadian dollars only upon migration. You may call RBC Direct Investing after migration to change your scheduled payment to all U.S. dollars if that is your preference.

Will there be any changes to my HSBC InvestDirect account(s) when they are migrated to RBC Direct Investing?

Your HSBC InvestDirect Accounts will migrate to RBC Direct Investing as follows
Non Registered: At InvestDirect, your non-registered cash accounts are separated by currency. For example, you may have separate CAD, USD, and/or other foreign currency non-registered cash accounts. Upon migration to RBC Direct Investing, your non-registered cash accounts will be consolidated into one account that can hold multiple currencies (CAD, USD and foreign currencies).

Registered: At InvestDirect, your registered account type (RRSP, TFSA,RRIF) are separated by currency. For example, you may have separate CAD and USD currency registered accounts. Upon migration to RBC Direct Investing, your registered account type (RRSP, TFSA, RRIF) will be consolidated into one account type that can hold both CAD and USD currency.

Margin: At InvestDirect, your margin accounts are separated by currency. For example, you may have separate CAD and USD currency margin accounts. Upon migration to RBC Direct Investing, your margin accounts will be consolidated into one account that can hold both CAD and USD currency.
RESP: Your RESP account in CAD at InvestDirect will migrate to an RBC Direct Investing RESP account in CAD.

How will I fund my RBC Direct Investing account(s) or settle my trades?

For Canadian and US dollars, you can fund your RBC Direct Investing account(s) by transferring funds from your RBC bank accounts(s) to your RBC Direct Investing account(s) in real-time through RBC Online Banking (OLB) or the RBC Mobile app, Once the funds are received in your RBC Direct Investing account, you can proceed to place your trades.

You can also fund your RBC Direct Investing account(s) from a non-RBC chequing or savings account by adding “RBC Direct Investing” as a bill payee in your RBC OLB or the RBC Mobile app. Please be aware that transfers from a non-RBC account can take 2-4 business days.

You can also transfer HKD, GBP and EUR from your RBC Foreign Currency bank account to an RBC Direct Investing non-registered cash account. Trades at RBC Direct Investing settle within the account. You will not have the ability to settle trades directly from a bank account (either an account at RBC or from another financial institution) after your HSBC InvestDirect account(s) migrate to RBC Direct Investing.

What foreign currencies are available at RBC Direct Investing?

Foreign Currency Access:
You will be able to hold eight foreign currencies in non-registered cash accounts at RBC Direct Investing, including: Hong Kong Dollar; Great Britain Pound; Euro; Swiss Franc; Singapore Dollar; Australian Dollar; New Zealand Dollar; Japanese Yen.

You will have the ability to carry out Foreign Exchange transactions between foreign currencies and CAD & USD. You will also be able to place a trade in a foreign market in the local currency, or you can place a trade in the foreign market from a CAD or USD account.

What international trading markets are offered at RBC Direct Investing?

International Trading Access:
Once your accounts have migrated to RBC Direct Investing, you will have access to trade on the Hong Kong Stock Exchange in real time through the online investing site and mobile app, and by phone.

Trading by phone will be available for:

Swiss Exchange (Switzerland); Euronext Brussels (Belgium); Borsa Italia (Italy); Euronext Amsterdam (Netherlands); Euronext Lisbon (Portugal); Vienna Stock Exchange (Austria); Bolsa de Madrid (Spain); Nasdaq Helsinki (Finland); Athens Stock Exchange (Greece); Australian Securities Exchange; Singapore Exchange; Tokyo Stock Exchange (Japan); Nagoya Stock Exchange (Japan); Osaka Securities Exchange (Japan)

Online trading capability for London Stock Exchange, Euronext Paris, Frankfurt Stock Exchange is coming later in 2024.

Some restrictions apply to other markets. For more details, please refer to the RBC Product Migration Guide section 4.

Please note that for a temporary period, you will not have the ability to make modifications to your trade orders on international markets. To make a change you will need to cancel the order and place a new one. The ability to modify orders will be available later in 2024.

Do I need to prepare anything before my accounts move from HSBC InvestDirect to RBC Direct Investing?

Prior to your account(s) migrating to RBC Direct Investing, consider doing the following to maintain your account records from HSBC InvestDirect.

Download your previous HSBC InvestDirect account statements, tax documents or transactions history as you will not have immediate access to these documents upon migration.
Export or screenshot your watchlist and alerts as these won’t be migrated to RBC Direct Investing. You can re-create them after migration.

I want to ensure I have access to my account documents including statements, trade confirmations and tax documents. Will these be transitioned to RBC Direct Investing?

While these documents will be transitioned to RBC Direct Investing post migration, they will not be available immediately. We recommend that you download these documents prior to migration.

What language services are offered online and by phone at RBC Direct Investing?

RBC Direct Investing customizable Trading Dashboard will be available in English and French as well as simplified and traditional Chinese upon migration. To set your language preference, go to the setting on the Trading dashboard.

English, French, Cantonese and Mandarin speaking investment representatives are available by phone. Online and RBC mobile app are available in English and French only. Chat functionality is not available.

Investment Services Representatives are available Monday to Friday from 7 am to 8 pm ET for North American trades. For International trading, Investment Services Representatives will be available by phone when the markets are open.

How can I become familiar with the RBC Direct Investing platform?

You will have access to online tutorials once you enrol in RBC Direct Investing. Upon migration, you will also have access to the interactive site tour and access to resources to help you trade with confidence.

Will there be any differences in frequency and payment dates for my payment instructions for my RRIF?

Note: If you have RRIF payments scheduled for April 1^st, 2024, RBC Direct Investing will schedule your RRIF payment on April 2^nd after your accounts have migrated. Your RRIF payment schedule will revert back to the original schedule.

Frequency and payment date options from RBC Direct Investing differ from what you experienced at HSBC InvestDirect. Please refer to your RBC Product Migration Guide section 4 page 92 of the Product and Service Guide for details.

Will the trading authority and/or beneficiaries that I have designated for my account(s) remain in place when my accounts are migrated to RBC Direct Investing?

Efforts will be made to migrate all information in respect of any HSBC Bank Canada trading authority and beneficiaries connected to your migrated account(s) at RBC Direct Investing. If required, you may be contacted by RBC Direct Investing in due course to update any information necessary.

Will I still have access to my Investment Savings Account?

You will only have access to RBC Investment Savings Account (ISA) products at RBC Direct Investing. If you hold a non-RBC Investment Savings Account (ISA) product, your holdings will migrate to RBC Direct Investing, but you will not be able to purchase additional holdings in these products after migration. You will be able to execute sell orders by phone for these products with an RBC Direct Investing investment service representative.

For a list of all RBC ISA products, please visit: https://www.rbcroyalbank.com/products/isa/index.html

(Opens link in new window). Note: RBC Direct Investing offers Series A.

How do I start trading/investing online or on the mobile app once accounts are migrated to RBC Direct Investing?

To start trading online on your account (or an account for which you are properly authorized to trade) following migration, you will need to enrol in RBC Online Banking or the RBC Mobile app prior to your holdings migrating to RBC Direct Investing. At migration, ensure you have the most up-to-date version of the app.

You will still have the ability to trade over the phone with an Investment Services Representative but for the best experience we recommend enrolling in RBC Online Banking or the RBC Mobile app.

I live outside of Canada, are there any limitations or restrictions to account access and trading at RBC Direct Investing?

U.S. Licensed - Trading Line Toll-free (North America): 1-800-769-2514

We are currently unable to offer account services to clients who reside in the jurisdictions listed below. If you reside in one of the locations listed below, you will have no online or mobile access to your account(s) and transactions will be limited to liquidating trades (by phone) and transfer out requests only.

The list of impacted jurisdictions is reviewed periodically and subject to change.

Afghanistan
Belarus
Cameroon
Central African Republic (the)
Congo (the Democratic Republic of the)
Egypt
Eritrea
Guinea-Bissau
Iran (Islamic Republic of)
Iraq
Jamaica
Kazakhstan
Korea (the Democratic People's Republic of) [North Korea]
Lebanon
Libya
Myanmar
Nicaragua
Pakistan
Russian Federation (the)
Somalia
South Sudan
Sudan (the)
Sri Lanka
Syrian Arab Republic
Ukraine
Venezuela (Bolivarian Republic of)
Yemen
Zimbabwe

What are some benefits that RBC Direct Investing will offer me when my accounts migrate?

When your account(s) migrate, you can invest and trade using the RBC Direct Investing online investing site, the RBC Mobile app (IOS and Android), and the advanced trading dashboard.

You will also experience:

The benefit of the RBC trading desk, where expert traders and smart technology come together.
The power of the extensive investor resources including free real-time streaming and level 2 quotes for North American exchanges plus expert research and analysis for Canadian, U.S. and International markets.
The convenience of connecting with RBC Direct Investing representatives who can support your trading needs either in person at Investor Centres or via the phone through the Contact Centre.

Legal disclosure:

Level 2 quotes are available on stocks and ETFs that trade on the TSX and TSX-Venture exchanges for all clients. Level 2 quotes are also available on stocks and ETFs that trade on the Canadian Securities Exchange and Nasdaq for Active Trader clients upon accepting the terms and conditions of all exchange agreements on the RBC Direct Investing online investing site.

Is international trading available at RBC Direct Investing?

Yes, you can trade on Canadian, US and international exchanges including Hong Kong, London, Paris, Frankfurt and more through RBC Direct Investing.

Can I move my HSBC Invest Direct accounts and investments to RBC Direct Investing now?

We recommend that you wait for the migration so that your HSBC Invest Direct accounts can be migrated over to RBC Direct Investing automatically for you.

Why I am seeing new accounts with a zero balance on my online banking or mobile app?

You may notice some accounts appear with a $0 balance on your RBC Online Banking profile or on the RBC Mobile app. These accounts will stand as a placeholder as we prepare to migrate your HSBC Bank Canada account to RBC. If you have an RBC Direct Investing account, you may also see these accounts within the RBC Direct Investing Funds Transfer/Move Money page under the drop-down list for choosing a bank account to transfer/move money.

Once migration has been completed, you will be able to see your actual account balances, and be able to use these migrated accounts.

What is the process to place expressions of interest for available new issues?

At RBC Direct Investing, the ability to view, explore and subscribe on available new issues on the online platform is not available as our New Issues Centre is undergoing an extensive rebuild. If you wish to express interest on available new issues, please contact us at 1-800-769-2511.

How do foreign currency transfers between my personal RBC Foreign Currency Account and RBC Direct Investing work?

From RBC Foreign Currency Account bank to RBC Direct Investing:

Free online transfers of HKD, GBP and EUR from your RBC Foreign Currency account to an RBC Direct Investing non-registered cash account are available through RBC Online Banking (OLB) or the RBC Mobile app in real time between 4:30 am and 3 PM ET Monday to Friday, excluding holidays. Outside these hours, funds are available the next business day. Daily limits by account apply and wire transfers are available for instances where you require an amount above the daily limit.

Transfer from your RBC Royal Bank Canada Account to your RBC Direct Investing Account

Online

Currency	Daily Limit per account^*	Funds are available:	Cost
HKD	7,500,000	Real Time Monday-Friday 4:30 AM-3:00PM ET Outside these hours, funds are available next business day.	Free
EUR	1,000,000
GBP	1,000,000

Wire transfers from your personal RBC Foreign Currency Account to RBC Direct Investing cash account are available for:

Hong Kong Dollars, British Pounds and Euros over the daily limit noted above. There is no charge for these transfers.
Please visit your local RBC Branch to initiate a wire.

Note: Funds transferred by wire before 2 PM ET are available two business days later; after 32 PM ET, funds are available three days later.

From RBC Direct Investing to RBC bank account:

Free transfers of Canadian and US dollars from your RBC Direct Investing account to an RBC Royal Bank account are processed in real-time between 9:00 a.m. and 4:00 p.m. ET, Monday to Friday (excluding holidays). Transfers out of your RBC Direct Investing account made outside of these hours will be processed the next business day. Locked-in, Registered Retirement Income Fund, and Registered Education Savings Plan (transfer out only) accounts excluded. Other conditions apply.

Free transfers of HKD, GBP and EUR from your RBC Direct Investing non-registered cash account to your RBC Foreign Currency bank account are available in real time between 9:00 am and 3 PM ET Monday to Friday (excluding holidays). Outside these hours, funds are available the next business day. Daily limits by account apply and wire transfers are available for instances where you require an amount above the daily limit.

Transfer from your RBC Direct Investing Account to your RBC Royal Bank of Canada Account

Online

Currency	Daily Limit per account^*	Funds are available:	Cost
HKD	$1,500,000 HKD	Real Time Monday-Friday 9:00 AM-3:00PM ET Outside these hours, funds are available next business day.	Free
EUR	€150,000 EUR
GBP	£150,000 GBP

Wire transfers from RBC Direct Investing to your RBC Royal Bank of Canada account are available for:

Hong Kong Dollars, British Pounds and Euros over the daily limit noted above. There is no charge for these transfers.
To place a wire, call us at 1-800-769-2560 between 7:00 AM and 8:00 PM ET Monday-Friday (excluding holidays).

What will happen to my HSBC Bank Canada branch?

At this time, there are no changes to your HSBC Bank Canada branch —you can continue to use your preferred branch as usual. We are in the process of optimizing our combined branch network in a way that makes sense for clients with some branches consolidating after March 28^th.

What languages can I get services in at RBC?

RBC offers advice and support to our clients in a variety of different languages across the country through our branch, digital and advice centre channels. You can expect continued access to multi-language servicing in person and by phone, including Cantonese and Mandarin. Our ATMs are also equipped with multi-language capabilities, including English, French and Traditional Chinese.

What will happen to my HSBC Bank Canada safe deposit box?

At this time, you can continue to access your safe deposit box as you do today. We are in the process of optimizing our combined branch network in a way that makes sense for clients with some branches consolidating after March 28^th. Through the transition, the safety and security of your safe deposit box is a top priority.

I had a Group RRSP where I was contributing into my RRSP directly from my payroll.

Will this account and payroll contributions be migrated over?

Do I need to do a new Payroll deduction form?

Your account and balances will transition in-kind to RBC and we are working with your employer to move the Group RRSP plan and payroll contributions to RBC. Please reach out to your employer if you have questions related to your RRSP payroll contributions.

If you had payroll contributions connected to a Group World Selection Portfolio account, you will need to open a new Group RRSP account at RBC post migration to continue to receive payroll contributions. Further information on next steps will be shared through your employer post migration.

I'm a Group RRSP World Selection Portfolio account holder.

Can you explain how my account will be migrated?

Will there be differences in fees?

If you are receiving employer payroll contributions in a Group RRSP World Selection Portfolio account at HSBC Bank Canada, your existing holdings will be migrated in kind, into an RBC Investment Advantage Account at RMFI . The RBC Investment Advantage Account does not offer a Group RRSP so you will need to open a new Group RRSP account at RBC after the migration for ongoing contributions. If your new account is subject to higher priced investments, you will be reimbursed for the difference from RBC into your Group RRSP account. Any additional information can be shared through your employer post migration.

I'm a Group RRSP World Select Portfolio account holder, I heard that my existing holdings will be migrated into an RBC Investment Advantage program but the RBC Investment Advantage program does not offer a Group RRSP, so I am told that I will need to open a new Group RRSP account after migration.

How do I do this?

Am I able to transfer between the accounts?

You will be able to open a new group RRSP account at RBC by meeting with an advisor in person or over the phone; more details will be provided to you by your employer, shortly after migration.

You will be able to transfer funds between accounts, but your payroll contributions will be deposited into your new RBC Group RRSP account.

What happens if I leave the company (or retire) before the migration?

If you leave your current employer, your Group RSP will be transitioned over to RBC as an individual RRSP.

I have a Group account at HSBC; but am no longer with the employer. What will happen to my Group account?

If you are no longer with HSBC, your existing Group RRSP will be transitioned to RBC as an individual RRSP.

Will there be any changes to my payroll contributions?

No changes. Your payroll contributions will carry over automatically.

Will there be a disruption to my payroll contributions?

RBC will work closely with your employer to ensure that there is no disruption to your payroll contributions.

I have USD holdings in my group RRSP; will they transition in USD?

Yes; RRSPs with USD will be transferred in kind to RBC Dominion Securities.

FAQs for Private Banking and Wealth Management Clients

FAQ Search

This page will continue to be updated with additional information regarding the migration of your products and services to RBC.

Why do I need to complete new forms for my migrated HSBC InvestDirect account(s)?

What will my commissions & fees be when my account(s) are migrated to RBC Direct Investing?

I currently have HSBC Private Client Service; Premier; Advance and/or Active Trader status (as applicable) at HSBC InvestDirect. Will my status migrate to RBC Direct Investing?

I am an existing RBC Direct Investing client and I also have accounts with HSBC InvestDirect. What will happen to my HSBC InvestDirect accounts when they are migrated over to RBC Direct Investing?

Will my Standing Payment and Pre-Authorized Contribution Instructions migrate from HSBC InvestDirect to RBC Direct Investing?

Weekly PAC instructions on your registered account, your payment date will automatically be changed to be paid out every Friday.
Bi-weekly and semi-monthly PAC instructions on your registered account, payment date will be on the 15^th and end of the month following the migration date.
Monthly PAC instructions on your registered account, payment date will be on the 15^th day of the month following the migration date
For all non-registered PAC instructions, all payment amount and frequency will remain the same.
If you have an Automatic Funds Transfer (AFT) on your Sweep Account, upon migration your weekly AFT payment will revert to the first business day of the week.

If you receive your regular scheduled payment in either 100% Canadian or 100% U.S. dollar, there will be no change.
If you receive a regularly scheduled payment in a combination of Canadian and U.S. dollars, this will change to Canadian dollars only upon migration. You may call RBC Direct Investing after migration to change your scheduled payment to all U.S. dollars if that is your preference.

Will there be any changes to my HSBC InvestDirect account(s) when they are migrated to RBC Direct Investing?

How will I fund my RBC Direct Investing account(s) or settle my trades?

What foreign currencies are available at RBC Direct Investing?

What international trading markets are offered at RBC Direct Investing?

Do I need to prepare anything before my accounts move from HSBC InvestDirect to RBC Direct Investing?

Prior to your account(s) migrating to RBC Direct Investing, consider doing the following to maintain your account records from HSBC InvestDirect.

Download your previous HSBC InvestDirect account statements, tax documents or transactions history as you will not have immediate access to these documents upon migration.
Export or screenshot your watchlist and alerts as these won’t be migrated to RBC Direct Investing. You can re-create them after migration.

I want to ensure I have access to my account documents including statements, trade confirmations and tax documents. Will these be transitioned to RBC Direct Investing?

While these documents will be transitioned to RBC Direct Investing post migration, they will not be available immediately. We recommend that you download these documents prior to migration.

What language services are offered online and by phone at RBC Direct Investing?

How can I become familiar with the RBC Direct Investing platform?

Will there be any differences in frequency and payment dates for my payment instructions for my RRIF?

Will the trading authority and/or beneficiaries that I have designated for my account(s) remain in place when my accounts are migrated to RBC Direct Investing?

Will I still have access to my Investment Savings Account?

(Opens link in new window). Note: RBC Direct Investing offers Series A.

How do I start trading/investing online or on the mobile app once accounts are migrated to RBC Direct Investing?

I live outside of Canada, are there any limitations or restrictions to account access and trading at RBC Direct Investing?

U.S. Licensed - Trading Line Toll-free (North America): 1-800-769-2514

Afghanistan
Belarus
Cameroon
Central African Republic (the)
Congo (the Democratic Republic of the)
Egypt
Eritrea
Guinea-Bissau
Iran (Islamic Republic of)
Iraq
Jamaica
Kazakhstan
Korea (the Democratic People's Republic of) [North Korea]
Lebanon
Libya
Myanmar
Nicaragua
Pakistan
Russian Federation (the)
Somalia
South Sudan
Sudan (the)
Sri Lanka
Syrian Arab Republic
Ukraine
Venezuela (Bolivarian Republic of)
Yemen
Zimbabwe

What are some benefits that RBC Direct Investing will offer me when my accounts migrate?

The benefit of the RBC trading desk, where expert traders and smart technology come together.
The power of the extensive investor resources including free real-time streaming and level 2 quotes for North American exchanges plus expert research and analysis for Canadian, U.S. and International markets.
The convenience of connecting with RBC Direct Investing representatives who can support your trading needs either in person at Investor Centres or via the phone through the Contact Centre.

Is international trading available at RBC Direct Investing?

Yes, you can trade on Canadian, US and international exchanges including Hong Kong, London, Paris, Frankfurt and more through RBC Direct Investing.

Can I move my HSBC Invest Direct accounts and investments to RBC Direct Investing now?

We recommend that you wait for the migration so that your HSBC Invest Direct accounts can be migrated over to RBC Direct Investing automatically for you.

Why I am seeing new accounts with a zero balance on my online banking or mobile app?

What is the process to place expressions of interest for available new issues?

How do foreign currency transfers between my personal RBC Foreign Currency Account and RBC Direct Investing work?

Transfer from your RBC Royal Bank Canada Account to your RBC Direct Investing Account

Online

Currency	Daily Limit per account^*	Funds are available:	Cost
HKD	7,500,000	Real Time Monday-Friday 4:30 AM-3:00PM ET Outside these hours, funds are available next business day.	Free
EUR	1,000,000
GBP	1,000,000

Wire transfers from your personal RBC Foreign Currency Account to RBC Direct Investing cash account are available for:

Hong Kong Dollars, British Pounds and Euros over the daily limit noted above. There is no charge for these transfers.
Please visit your local RBC Branch to initiate a wire.

Transfer from your RBC Direct Investing Account to your RBC Royal Bank of Canada Account

Online

Currency	Daily Limit per account^*	Funds are available:	Cost
HKD	$1,500,000 HKD	Real Time Monday-Friday 9:00 AM-3:00PM ET Outside these hours, funds are available next business day.	Free
EUR	€150,000 EUR
GBP	£150,000 GBP

Wire transfers from RBC Direct Investing to your RBC Royal Bank of Canada account are available for:

Hong Kong Dollars, British Pounds and Euros over the daily limit noted above. There is no charge for these transfers.
To place a wire, call us at 1-800-769-2560 between 7:00 AM and 8:00 PM ET Monday-Friday (excluding holidays).

How does RBC Private Banking manage Households?

RBC Private Banking is built around a primary client, also known as a “the Head of the Household”. However, the total relationship includes the social unit which is comprised of the person(s) identified by the Head of Household which includes personal holding companies, family trust, sole proprietorship, partnerships, and corporate entities (personal holding companies). This includes each dependent child under the age of 22, and/or each full-time student under the age of 25.

What happens to my Ten Lifestyle Concierge Services that I currently have?

HSBC Concierge – Provided by Ten Lifestyle Management Group Limited will no longer be available after migration. For any questions or if you require an update to an existing booking made by HSBC Concierge, please contact Ten Lifestyle Management Group Limited directly at 1-833-216-5982 1-833-216-5983- in French) Please note that RBC Concierge provided by Ten Lifestyle Management Group Limited is available to RBC Private Banking clients with the RBC Avion Visa Infinite Privilege for Private Banking credit card. If you do not currently have a HSBC Metal World Elite^® Mastercard^® and would like to continue to have access to concierge services, a pre-approved RBC Avion Visa Infinite Privilege for Private Banking credit card offer will be available upon request after migration. Please contact your Relationship Manager for more details. (Offer subject to adherence with RBC credit granting policies.)

How and when can I order cheques for my new accounts?

You may order cheques after migration through RBC Online Banking or by visiting an RBC branch.

Does RBC Offer Concierge Services for credit card holders?

Yes, RBC Concierge membership is exclusively offered to RBC Private Banking clients with RBC Avion Visa Infinite Privilege for Private Banking credit card. RBC Concierge is provided by Ten Lifestyle Management Limited (“TEN”)

I currently use the HSBC Concierge service. What happens to my reservations?

HSBC Concierge – Provided by Ten Lifestyle Management Group Limited will no longer be available as of migration. If you have any questions or require an update to an existing booking made by HSBC Concierge, please contact Ten Lifestyle Management Group Limited directly at 1-833-216-5982 (1-833-216-5983- in French).

Please note that RBC Concierge provided by Ten Lifestyle Management Group Limited is available to RBC Private Banking clients with the RBC Avion Visa Infinite Privilege for Private Banking credit card. Please contact your Relationship Manager for more details. (Offer subject to adherence with RBC credit granting policies.)

What should I do to prepare for the upcoming transition?

Make sure your personal information is up to date. Advise your Investment Counsellor of any recent changes.

Keep all important HSBC Private Investment Counsel account information for your records as you transition to RBC PH&N Investment Counsel. Save your HSBC Private Investment Counsel statements and tax documents before migration.
It is recommended you enrol in RBC Online Banking once you’ve received your RBC Client Card to ensure you have continued online access to view your account information.
Your portfolio(s) historical transaction, performance information and annual reports will not be available online to you after migration. Please retain your HSBC Private Investment Counsel account statements and annual reports for this information. New performance calculations will be provided going forward after migration.
Review the RBC PH&N Investment Counsel Client Account Agreement which will govern your portfolio(s) after migration. You can obtain a physical copy at a PH&N IC office or by contacting your Investment Counsellor.

What if I have questions about my Private Investment Counsel fees?

The fees associated with your portfolio(s) will remain the same for at least 12 months. Please refer to the Product and Services booklet for complete information about changes to your portfolio(s). Please speak to your Investment Counsellor should you have any questions.

Who can I contact if I have questions about my Private Investment Counsel accounts?

If you have any questions or need more information about the upcoming transition, please reach out to your Investment Counsellor at HSBC Private Investment Counsel for assistance.

Should I move my HSBC Bank Canada products to Royal Bank of Canada (“RBC”) now?

No, you do not need to take any action right now. Your HSBC Bank Canada products and services will be migrated over to RBC by the end of March.

I will be out of the country during the migration period. How can I receive key communication, cards and support?

What will happen to my HSBC Bank Canada account balance, funds, deposits and automatic payments during the migration?

Details about your replacement RBC products will be sent to you in January. For general information about RBC, please visit rbcroyalbank.com.

When will I get more details about how my HSBC Bank Canada products are changing?

You can expect additional details about your migrated RBC products and whether there are any changes to them in January— check this site for updates to key dates.

Who will be my Relationship Manager in Canada?

We plan to preserve your relationship(s) with your existing advisor(s). In cases where you have a relationship with both HSBC Bank Canada and RBC, we will work with you and be guided by your needs.

Will I still be covered by CDIC insurance once the migration to RBC is complete?

Will RBC provide support in multiple languages?

I am an HSBC Premier customer. Is there anything I need to do to prepare for the migration to RBC?

There's nothing you need to do today. For a smooth transition to RBC, we recommend you work with your HSBC Premier Relationship Manager.

I am an HSBC Private Client Services customer. Is there anything I need to do to prepare for the migration to RBC?

While there's nothing you need to do today, we recommend speaking with your HSBC Private Client Services Relationship Manager or Investment Counsellor so that they can help ensure a smooth transition to RBC.

What will happen to my ability to view and transfer money between different countries?

Will I be able to trade on international exchanges?

Yes, you can trade on Canadian, US and international exchanges including Hong Kong, London, Paris, Frankfurt and more through RBC Direct Investing.

Can I hold foreign currencies in banking accounts?

Yes, you will have access to a variety of foreign currency accounts at RBC.

Will I continue to work with my relationship manager?

You will continue to interact with your HSBC Private Client Services Relationship Manager as you do today. Maintaining the service and value clients experience with HSBC Bank Canada is important, and RBC plans to preserve your relationships with your existing advisors . We recommend speaking with your HSBC Private Client Services Relationship Manager so that they can help ensure a smooth transition to RBC.

If I currently have an RBC credit card in addition to an HSBC Bank Canada credit card, will I be issued another RBC credit card?

How do I add an additional user to my migrated credit card?

If you are the primary card holder, you can add authorized user(s) to your credit card(s) through Online Banking (OLB).

While logged into OLB Open the Account Details page of the credit card the authorized user is being added to. Unfortunately, co-applicants cannot be added to any migrated credit cards.

How can I access the HSBC Bank Canada Online Banking platform during the migration?

There are no changes to your personal internet banking access at HSBC Bank Canada at this time. Learn more about how to enrol in RBC Digital Banking today.

Is RBC Online Banking or RBC Mobile Banking available in Simplified and Traditional Chinese?

No, RBC Online Banking and the RBC Mobile App are only available in English and French. Additional language support, English, French, Mandarin and Cantonese, is available at the Advice Centre, RBC Direct Investing contact centres as well as in multiple branch locations.

How will my investments transfer?

Your investments will be transferred as is by the end of March 2024. More details will be available in the coming months.

Will there be tax consequences?

There are no tax implications on migration. Clients and Investment Counsellors will discuss the best course of action for their portfolios once they become RBC clients and will make the decision that best fits the client.

Will my investment portfolio be available online?

Yes, it will be available online. More details will be available in the coming months.

Will RBC Wealth Management provide the same high-level service offering?

You can expect similar high-quality service and value that you received at HSBC Canada.

Our investment counsellors and portfolio managers have access to expertise and guidance on security selection and portfolio construction at RBC Global Asset Management, Canada’s largest asset manager , as well as third-party money managers worldwide. RBC Wealth Management’s broad range of investing solutions including the global diversification you’ve come to enjoy at HSBC and provides access to many managers and mandates, including alternative investments.

What will happen to my relationship management/investment counselling team?

Maintaining the service and value you have experienced with HSBC Canada is important, and we plan to preserve your relationships with your existing advisors. Your investment portfolios will be available for trading on transition, including online access.

When will I have access to RBC Wealth Management Online?

You will gain access to RBC Wealth Management Online on April 1, 2024.

What will be available to view on RBC Wealth Management Online?

Your RBC PH&N Investment Counsel account(s) will be available to view on April 1, however the full portfolio market value will be available on April 2. Should you have questions, please contact your Investment Counsellor.

Are there changes to my payments schedule for my RBC PH&N Investment Counsel accounts over the migration weekend?

Payments scheduled March 29-31 regardless of product will be processed on/by March 28 by HSBC.

Outgoing payments set up for April 1 will be processed on April 2 after the systems have been updated.

For subsequent months, 1^st of the month payments will be set up for clients.

What is RBC’s payment schedule/frequencies for the RBC PH&N Investment Counsel accounts?

We offer monthly, quarterly, and semi-annual payment frequencies. We do not offer weekly frequencies.

Please speak with your Investment Counsellor or refer to your Product and Service Notification letter for details.

Will I have access to my historical account information after migration to RBC PH&N Investment Counsel?

Your account’s historical transactions, performance information and annual reports will not be available online to you after migration to RBC PH&N Investment Counsel. Please retain your HSBC Private Investment Counsel statements and annual reports for this information. New performance calculations will be provided going forward after migration.

Will I still receive an annual fee and performance report for my RBC PH&N Investment Counsel Accounts?

Yes, it will be incorporated into your quarterly Portfolio Review statements.

Will my fees change following migration to RBC PH&N Investment Counsel?

The fees associated with your account(s) will remain the same for at least 12 months following the migration unless, following discussion with your Investment Counsellor, you wish to take advantage of our enhanced product shelf which may result in a change to the fees associated with your account(s). Please speak to your Investment Counsellor should you PH&N have any questions, after migration.

Are there changes to the way fees are billed for RBC PH&N Investment Counsel services?

The method in which your investment management fees are calculated will change from average daily balance to month-end balance based on the market value of your account(s). Your fee billing cycle will also change from quarterly to monthly.

Fees for your HSBC account for first quarter will appear on your April 30, 2024, custody statement.

What is the difference between my investment management statement (i.e. Your Portfolio Review) and my custody statement?

Custody is provided by RBC Royal Trust, an affiliate of RBC PH&N Investment Counsel.

The custodian’s role is to provide basic record keeping and administrative services such as tax reporting. In addition, the custodian confirms that your holdings and transactions are consistent with your investment management reporting from RBC PHN Investment Counsel. RBC Royal Trust is obligated to provide this reporting at least once per year.

Valuations in the custody statement are reflected as of settlement date, but in the investment management statement as of trade date. Custody statements do not provide any historical performance data. This is consistent with industry practice as custodians only report on settled amounts.

How will I receive my investment management (i.e., Your Portfolio Review) and custody statements for RBC PH&N Investment Counsel accounts?

Your statements will, by default, be sent to you by regular mail. Upon migration, you can choose to switch to electronic statements through RBC Wealth Management Online or by contacting your Investment Counsellor.

How will I receive my 2023 tax slips?

Paper copies of your tax slips for 2023/2024 will be mailed to you by HSBC up to May 28 as you will no longer have access to the HSBC Bank Canada online banking platform after you transition to RBC.

Who do I contact to send a payment via bankwire or to receive funds for my RBC PH&N Investment Counsel accounts?

Please contact your Investment Counselling team.

Will my pre-existing fixed withdrawals change?

Fixed withdrawals currently set to come from your HSBC Private Investment Counsel non-registered accounts on a weekly, quarterly, semi-annual, or annual basis will change to monthly.

What will happen to my Investment Counsel accounts/investments during this transition?

Your HSBC Private Investment Counsel account(s) will be migrating “in-kind” and remain invested with RBC PH&N Investment Counsel to help ensure a seamless transition. You will continue to receive investment advice from the same Investment Counsellor you worked with at HSBC Private Investment Counsel.

Please refer to the product and service notification letter for additional details.

Where can I meet with my Investment Counsellor?

Please contact your Investment Counsellor to arrange an in-person meeting.

Do I need to set up my beneficiaries and Powers of Attorney (POAs) again?

No, beneficiaries and POAs will migrate with your accounts. Please contact your Investment Counsellor if your POAs look incorrect or need to be updated.

What will happen to my HSBC Bank Canada branch?

What languages can I get services in at RBC?

What will happen to my HSBC Bank Canada safe deposit box?

Will I continue to have the Global View service?

How do I maintain the Global View Service to view my HSBC global accounts?

To maintain the Global View service, you will need to take the following actions:
1) Prior to Migration Date:

Accept the HSBC updated Terms and Conditions on HSBC Online Banking.

Accept the RBC Terms and Conditions in the ‘External Accounts’ section on RBC Online Banking and RBC Mobile Banking.

Are there fees for viewing accounts globally?

There is no fee for viewing your accounts with Global View.

Are there daily limits for International Money Transfer (IMT)?

Yes, there are daily limits for International Money Transfer at RBC. You will have the ability to transfer up to $50,000 per day.

Which accounts can clients view through RBC Global View?

You will have the ability to view certain account information related to the linked global HSBC Savings and/or chequing account(s) from your RBC digital channels.

What is International Money Transfer (IMT)?

International Money Transfer (IMT) is a payment solution that will allow you to send money to almost any country around the world using RBC Online Banking and it can be used in two ways:

Transfer Money to your HSBC Global View Linked Accounts: Using RBC International Money Transfer (IMT), you will be able to transfer money from your eligible RBC CAD or USD chequing account to the globally linked HSBC Accounts (exception: CAD to CAD transfers are not available)
Send Money to others Globally: Using RBC International Money Transfer, you can also choose to send money to anyone else globally. You will be able to transfer money from your eligible RBC CAD chequing account to third parties.

Is there anything that I need to do to complete an international money transfer for the first time?

The first time you choose to send money using RBC International Money Transfer (IMT), you will be prompted to ‘add payee’ by entering the payee’s details.

Is International Money Transfer service secure?

With the RBC Digital Banking Security Guarantee, you are protected against the losses arising from unauthorized transactions, if you fulfill your responsibilities.

Are there fees for transferring funds between accounts using International Money Transfer (IMT)?

No, there are no fees for using International Money Transfer Service (IMT). Foreign exchange rates and fees by the recipient's bank may still apply.

To maintain my Global View service, where do I go to provide “consent” to the updated Terms and Conditions?

Which accounts will I be able to view at RBC through Global View once the migration is complete?

What happens if I do not provide consent to the new Terms and Conditions prior to migration?

You will NOT be able to view your non-Canadian HSBC accounts in RBC Online Banking or Mobile Banking and
You will NOT be able to view your RBC Canada account information from other HSBC locations where you have Global View.