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Youth Bank Account Features
- Enjoy the convenience of free unlimited debit transactions in Canadalegal bug 7
- Free unlimited Interac e-Transfer transactions
- No minimum balance
- Never miss another allowance payment
Parents and guardians can set up automatic money transfers for free - Earn interest on every dollarlegal bug 8
More About Your Account
Here are some of the additional things you can do with your account, for a small fee.
| Details | Fees |
|---|---|
| Non-RBC Royal Bank ATM transactions (on Interac system) | $2.00 each |
| Non-RBC Royal Bank ATM transactions within Canada & the U.S.legal bug 3 (on PLUS system) |
$3.00 each |
| Non-RBC Royal Bank ATM transactions outside Canada & the U.S.legal bug 4 (on PLUS system) |
$5.00 each |
| Cross-Border Debitlegal bug 1, legal bug 5, legal bug 6 | $1.00 each |
Raise Money-Smart Kids with MYDOH
The Mydoh app and Smart Cash Card‡ make it easy for kids to gain real money skills. And you can coach, guide, or just keep an eye on things.
Ways to Apply
Call 1-800-769-2561- Call 1-800-769-2561
Visit Us
Find Everything RBC offers to help students succeed in today's world.
Legal Bug*
Mydoh monthly subscription fee is $2.99. This fee will be taken out of your Mydoh Wallet. You can cancel any time by contacting Mydoh. Mydoh reserves the right to cancel, modify or withdraw this offer at any time.
Legal Bug‡
The RBC Visa Prepaid Mydoh Smart Cash Card (“Mydoh Smart Cash Card”) is available as a physical and digital card that can be used to pay for purchases online or in-store anywhere Visa contactless (tap) is accepted.
Legal Bug 1)
This offer is available to any Eligible Clients without a Personal Banking Account with Royal Bank of Canada within the last 3 years before the start of the promotional period on April 1, 2023. The Bonus Offer is $25 with an RBC Leo’s Young Savers Account®. This account type is intended for clients 0-12 years. No qualifying transactions or purchases are required for the $25 Bonus Offer with the RBC Leo’s Young Savers Account. The Bonus Offer will be deposited into your Eligible Personal Banking Account within 2 to 8 weeks provided your account remains in good standing. This offer may not be combined or used in conjunction with any other Personal Banking Account offers. Royal Bank of Canada reserves the right to withdraw or modify this offer at any time without notice, even after acceptance by you. You must open your first new Eligible Personal Banking Account by 11:59 PM EST on June 30, 2023.
For full legal terms click here: rbc.com/leo25
Legal Bug 2)
Limited time offer available to Canadian residents who are age of majority at the time of Mydoh account opening in their province or territory of residence and have never previously signed up to Mydoh. A Mydoh offer promo code will be emailed to you to the email address you provided when opening RBC Leo’s Young Savers Account. Enter the promo code during the Mydoh account sign up process between April 1, 2023, and July 31, 2023, you will earn $10 CAD (“Bonus Offer”) in your Mydoh Wallet. There is a maximum of one (1) Bonus Offer available per family.
The Bonus Offer will be credited to your Mydoh Wallet within 4-6 weeks of successful sign up. The Bonus Offer can be sent to your child as soon as it is deposited in your Mydoh Wallet, and your child can spend the Bonus Offer in-store or online, upon receiving the funds. The Bonus Offer cannot be withdrawn from your Mydoh Wallet within the first 30 days after it is credited. If you close your account within the first 30 days, the Bonus Offer will be deducted from any withdrawn funds. This offer cannot be combined with any other Mydoh offers. Royal Bank of Canada may cancel or modify this Bonus Offer at any time.
The Bonus Offer will be credited to your Mydoh Wallet within 4-6 weeks of successful sign up. The Bonus Offer can be sent to your child as soon as it is deposited in your Mydoh Wallet, and your child can spend the Bonus Offer in-store or online, upon receiving the funds. The Bonus Offer cannot be withdrawn from your Mydoh Wallet within the first 30 days after it is credited. If you close your account within the first 30 days, the Bonus Offer will be deducted from any withdrawn funds. This offer cannot be combined with any other Mydoh offers. Royal Bank of Canada may cancel or modify this Bonus Offer at any time.
Legal Bug 3)
An ATM operator surcharge (also called convenience fee) may be charged by other ATM operators. The convenience fee is not a Royal Bank fee. It is added directly to the amount of your cash withdrawal. All clients who use non-RBC ATMs may be charged a convenience fee regardless of the type of account they hold.
Legal Bug 4)
Each account cash withdrawal at an ATM outside Canada displaying the PLUS System symbol, and any fees that may be imposed by any third party for using the ATM, are converted to Canadian dollars at an exchange rate which is 2.5% above the bench mark rate set by the payment card company when the transaction is posted. Exchange rates fluctuate and, as such, the rate applied will usually differ from the posted exchange rate at the time of the transaction.
Legal Bug 5)
On operating account only. $1 per cross border debit transaction on companion accounts. Not available on U.S. Personal Account.
Legal Bug 6)
Foreign currency purchases paid by withdrawal from your Canadian dollar account are converted to Canadian dollars at an exchange rate 2.5% over the Interbank Spot Rate (as defined by Acxsys Corp.), effective at time of processing. Since exchange rates fluctuate, the rate applied will usually differ from the posted exchange rate at the time of your purchase.
Legal Bug 7)
Effective for all account holders as of December 1 2022. NOTE: The Leo’s Young Savers Account is not eligible for the RBC Virtual Visa Debit card, and therefore incapable of RBC Virtual Visa Debit Debit Transactions.
Legal Bug 8)
Interest is calculated daily on the closing credit balance and paid monthly. Interest is subject to change at any time without notice. Learn more: https://www.rbcroyalbank.com/rates/persacct.html