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It’s Never Too Early to Open Your Child’s First Account
Help start your child’s financial journey with an RBC Leo’s Young Savers Account
The ideal account for youth 0-12 years
Monthly Fee: Free
Parents, raise money-smart kids with the Mydoh app and Smart Cash Card. Get $25 when you sign up to Mydoh and help your kids learn, earn and spend smarter.
Use promo code MYDOH25
Offer ends June 30, 2022legal bug 7.
Youth Bank Account Features
- Enjoy the convenience of 15 free debitslegal bug 1
- 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 - Maximize your savings by earning interest on every dollarlegal bug 2
- Kickstart good saving habits by earning interest on every dollarlegal bug 2
More About Your Account
Need more than 15 debits/ month sometimes? Or can’t get to an RBC ATM? No problem! Here are some of the additional things you can do with your account, for a small fee.
| Details | Fees |
|---|---|
| Additional debit transactions | $1.25/debit |
| 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 1)
RBC Virtual Visa Debits, Third-party payment Debits, RBC Royal Bank loan payments, RBC Royal Bank mortgage payments, pre-authorized and self-serve RBC Royal Bank credit card payments and contributions to RBC investment accounts (such as GICs, Royal Mutual Funds, Registered Savings Plans, Registered Education Savings Plans, Registered Disability Savings Plans and Tax-Free Savings Accounts) from your RBC Day to Day Banking Account, U.S. Personal Account, RBC Leo’s Young Savers Account or RBC Student Banking Account are free of charge. All other Debit Transactions from these Accounts are counted as Debit Transactions towards the free monthly Debit Transactions included in the Account, and give rise to an Excess Debit Transaction Fee if the total free monthly Debit Transactions are exceeded.
Legal Bug 2)
The interest rate is an annual interest rate. It is a simple interest calculation. Interest is calculated daily on the closing credit balance and paid monthly. Interest rate is subject to change at any time without notice. Learn More: http://www.rbcroyalbank.com/rates/persacct.html
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)
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. When you use promo code “MYDOH25” during the Mydoh account sign up process between January 18 and June 30, 2022, you will earn $25 CAD (“Bonus Offer”) in your Mydoh Wallet.
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 not 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 not 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.