| Avion points<\/td> | 1 point per $10 spent on debit (up to 150 points per month)<\/td> | 1 point per $5 spent on debit (up to 300 points per month)<\/td> | 1 point per $3 spent on debit (up to 500 points per month)<\/td><\/tr> |
| Monthly fee rebate<\/td> | \u2013<\/td> | Up to $6 per month<\/td> | Up to $12.95 per month<\/td><\/tr><\/tbody><\/table>What are the drawbacks of RBC Advantage Banking?<\/h3>There are a few risks and drawbacks to be aware of before applying for RBC Advantage Banking:<\/p> - Monthly fee may apply.<\/strong> Unless you satisfy specific terms and conditions, you\u2019ll have to pay a monthly account fee of up to $12.95.<\/li>
- Other fees.<\/strong> Check the fine print for details of other fees that may apply to this account, such as fees for wire transfers and using PLUS system ATMs. It\u2019s also worth noting that cross-border debits attract a $1 fee as well as a 2.5% exchange rate markup over the mid-market rate.<\/li>
- Must have other RBC products to access rewards.<\/strong> To take full advantage of rewards under the RBC Value Program, you\u2019ll need to sign up for multiple additional RBC products. There\u2019s also a cap on how many points you can earn per month.<\/li>
- Not as many perks as other accounts.<\/strong> If you\u2019re looking for a chequing account that offers features such as unlimited overseas transactions and waived fees on credit cards and other products, you\u2019ll need to consider other options.<\/li><\/ul>
What should I know before I apply?<\/h3>To qualify for an RBC Advantage Banking account you will need to be:<\/p> - The age of majority in your province.<\/li>
- Opening a sole account in your name.<\/li>
- A resident of Canada.<\/li><\/ul>
You can fill out an online application form in around 10-15 minutes. To complete the application online, you\u2019ll need to provide photo ID such as your driver\u2019s licence or passport.<\/p> How do I open an RBC Advantage Banking account?<\/h3>If you\u2019ve compared your options and decided RBC Advantage Banking is right for you, here\u2019s how to open an account:<\/p> - Click the green \u2018Go to site\u2019 button above to be securely redirected to RBC\u2019s website.<\/li>
- If you\u2019re an existing RBC online banking customer, you can log into online banking to speed up the application process. If not, you can continue with the steps below.<\/li>
- Choose whether you\u2019d like to open an RBC High Interest eSavings Account at the same time.<\/li>
- Enter your name and email address.<\/li>
- Verify your ID by providing a picture of your photo ID (such as your driver\u2019s licence or passport) and a selfie of you holding the ID. Alternatively, you can verify your ID by providing your personal details.<\/li>
- Enter your address, phone number, date of birth and SIN.<\/li>
- Enrol in online banking and choose a password.<\/li>
- Open your account and deposit funds.<\/li><\/ol>
Compare other chequing accounts<\/h3>
|