Where can I find the full terms and conditions for this offer?
Please go to rbc.com/offerterms350.
How do I qualify for this offer?
You can qualify for the offer by:
- opening a new RBC Signature No Limit Banking account or RBC VIP Banking account as a primary owner between March 1, 2023 and the end date of the campaign (May 1, 2023 at 9:00PM ET)
- completing two of the three Qualifying Criteria from your new account by July 7, 2023 at 9:00PM ET, which are:
- Complete 1 automated and recurring payroll or pension direct deposit or,
- Set up and complete 2 pre-authorized payments, or
- Set up and clear 2 bill payments to a service provider (i.e. utility bill, cable, etc.)
The offer is available to Canadian residents who:
- have never had a Personal Banking Account (chequing account) with RBC nor qualified for any of our offers related to opening a Personal Banking Account at any time during the Promotional Period or in the five year period before the start of the Promotional Period.
- have attained the age of majority as defined in their province of residence prior to May 1, 2023.
See the full rbc.com/offerterms350 for details.
If I opened a joint account with my partner then do we each receive the cash reward?
Only the primary account holder who is not an existing owner of a personal banking account is eligible for the offer.
Can I still qualify if I don’t use an automated recurring payroll direct deposit?
Yes, as long as you set up and complete two (2) Pre-Authorized Payments and have paid 2 bills and both payments are debited from the new eligible account by July 7, 2023.
What types of payments count as Pre-Authorized Payments and meet with the offer requirements?
If you choose to qualify for this offer with the two (2) pre-authorized payments (PAPs) option the payments must be withdrawn from your new eligible account by July 7, 2023. You can set up the two (2) pre-authorized payments from two (2) different companies or if you set them up with the same company, the 2 pre-authorized payments must be for different account numbers. Pre-authorized payments include, but are not limited to, utility bill payments (hydro, water, cable, phone, internet), pre-authorized contributions to your investments and gym membership payments.
When will I receive the cash reward if I qualify?
After completing the criteria by July 7, 2023, the cash reward will be deposited into your new eligible account within 6 and 10 weeks of you completing the Qualifying Criteria. This means either your direct deposit payroll has been deposited to your new account OR the two bill payments or 2 pre-authorized payments you set up have both been debited from your new account.
I did not receive the cash reward. What could be the reason?
You may have not received the cash reward due to one of the following:
- If the qualifying criteria was not completed by July 7, 2023.
- Your new eligible account was downgraded or closed prior to May 1, 2023.
- The recurring payroll, 2 bill payments or two (2) pre-authorized payments were not recognized by RBC Royal Bank
I believe I qualified but I did not receive the cash reward. What do I do?
Please contact your branch or our Advice Centre on 1-800-769-2511 no later than July 24, 2023, if you have not received your Cash Reward. Any notice received after this date, will not be accepted and you will be deemed not to have qualified for this Promotional Offer.
How long does my account and qualifying criteria have to remain open?
Your Eligible Personal Banking Account must remain open and in good standing, and the Qualifying Criteria you performed to get the Cash Reward (such as payroll/pension deposit, bill payment or pre-authorized payment) must remain in effect until one year after July 7, 2023.
How do I enrol an eligible bank account in the Value Program?
If you are opening a new account, you can enrol it in the Value Program at the same time you open the account. If you open an account online, simply enrol in the Value Program when you are invited to do so.
If you already have an eligible bank account, an RBC advisor can enrol your account in the Value Program for you. To book an appointment call 1-800-769-2511 or visit a branch.