{"id":57351,"date":"2020-06-09T16:42:00","date_gmt":"2020-06-09T16:42:00","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/insurance-roundup-how-your-money-is-protected-in-canada\/"},"modified":"2024-01-25T08:30:49","modified_gmt":"2024-01-25T13:30:49","slug":"insurance-roundup-how-your-money-is-protected-in-canada","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/insurance-roundup-how-your-money-is-protected-in-canada\/","title":{"rendered":"How Your Money Is Protected in Canada"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/banking-digital-banking\/\">\n\t\t\t\t\t\t\t<span>Banking\/ Digital banking<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">How Your Money Is Protected in Canada<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Diane Amato<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"620\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/insurance_Thumbnail-default@2x-1.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/insurance_Thumbnail-default@2x-1.jpg 930w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/insurance_Thumbnail-default@2x-1.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/insurance_Thumbnail-default@2x-1.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=How Your Money Is Protected in Canada &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/insurance-roundup-how-your-money-is-protected-in-canada\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/insurance-roundup-how-your-money-is-protected-in-canada\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published June 9, 2020 \u2022 5 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>The good news is, we live in a country with a stable financial system that is complemented by organizations that protect both individuals and the financial institutions they do business with. From your savings to your investments to your personal debt, protection is available to safeguard your money, your lifestyle and your loved ones.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Protecting Your Deposits \u2014 CDIC Deposit Insurance<\/h2>\n\n\n\n<p>The Canada Deposit Insurance Corporation (CDIC) is a crown corporation that was formed more than 50 years ago, following a period of financial instability in Canada. Since its founding, CDIC&#8217;s mission has been to protect the savings of Canadians by insuring their deposits at more than 80 member institutions. So if your financial institution closes, your money is protected.<\/p>\n\n\n\n<p><strong>How it works:<\/strong><\/p>\n\n\n\n<p>Eligible deposits \u2014 including money in your savings and chequing accounts, GICs, and foreign currency \u2014 are automatically covered to a limit of $100,000 per separately insured category. For instance, if you have a TFSA and a savings account each with $100,000 at a bank that is a CDIC member and the deposits are payable in Canada, your money would be fully insured if the bank goes under.<\/p>\n\n\n\n<p>You don\u2019t pay for CDIC coverage (your bank does), and you don\u2019t need to make a claim to get your money back.<\/p>\n\n\n\n<p><strong>How you\u2019re reimbursed:<\/strong><\/p>\n\n\n\n<p>In the event that your financial institution were to collapse, your insured funds (principal and interest) are automatically reimbursed within days. It\u2019s therefore important to keep your contact information up to date with your bank, so that you can be contacted to get your money back as soon as possible.<\/p>\n\n\n\n<p>What\u2019s covered, and what\u2019s not:<\/p>\n\n\n\n<p><strong>Covered:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Savings accounts<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Chequing accounts<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>GICs and other term deposits<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Not covered:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Mutual funds<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Stocks<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Bonds<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Exchange Traded Funds (ETFs)<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Crypto-currencies<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Any deposits made at institutions that aren&#8217;t members of CDIC<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Protecting Your Investments \u2014 CIPF<\/h2>\n\n\n\n<p>The Canadian Investor Protector Fund (CIPF) covers the assets you own that are held by a Canadian investment dealer who is a member of the Investment Industry Regulatory Organization of Canada (IIROC). Generally offering protection to individuals of up to $1 million for all general accounts combined (such as cash accounts, margin accounts and TFSAs), up to $1 million for all registered retirement accounts combined (such as RRSPs, RRIFs and LIFs) and up to $1 million for all registered education savings plans (RESPs) combined, CIPF protects you in case your investment dealer closes. Information on coverage limits and any exceptions for individuals, corporations and other types of clients can be found on CIPF&#8217;s website at www.cipf.ca.<\/p>\n\n\n\n<p><strong>How it works:<\/strong><\/p>\n\n\n\n<p>CIPF covers assets that are lost due to the failure of an investment firm. If you have 100 shares of a company, for example, CIPF will work to make sure you get back those 100 shares. What it doesn\u2019t do, is guarantee the value of your investment.<\/p>\n\n\n\n<p>As with CDIC insurance, you don\u2019t pay a premium for this protection \u2014 CIPF is funded by its members.<\/p>\n\n\n\n<p><strong>How you\u2019re reimbursed:<\/strong><\/p>\n\n\n\n<p>When a member firm becomes insolvent, CIPF typically works with a trustee in bankruptcy to return your assets to you as quickly as possible. Since the firm you worked with can no longer hold any property, it\u2019s usually necessary to move your assets to another investment dealer so that you can access what you own.<\/p>\n\n\n\n<p><strong>What\u2019s covered and what\u2019s not:<\/strong><\/p>\n\n\n\n<p><strong>Covered:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Cash<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Securities (including bonds, GICs, shares or stock of a company, units or shares of an investment fund such as mutual fund or an ETF, and units of limited partnerships)<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Future Contracts<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Segregated Insurance Funds<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Not covered:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>CIPF does not cover losses resulting from a drop in the value of your investments for any reason, including poor investment advice. For instance, if your investments weren&#8217;t suitable for you or you were given misleading or incomplete information, you won&#8217;t be reimbursed for any resulting losses.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Protecting Your Personal Debt \u2014 Creditor Insurance<\/h2>\n\n\n\n<p>Creditor insurance is optional coverage that you can buy to help cover your debt balances in the case of death, disability, critical illness and in some cases, job loss. While you may be effectively managing debt today \u2014 perhaps you have a mortgage, car loan, and\/or a balance on your credit card \u2014 if the unexpected happens, this debt can become an issue. Creditor insurance provides the coverage that helps prevent this debt from becoming a burden to your family.<\/p>\n\n\n\n<p><strong>How it works:<\/strong><\/p>\n\n\n\n<p>If you die, become critically ill or become disabled and can\u2019t work, creditor insurance can help reduce or pay off the balance of your insured mortgage, loan, line of credit or credit card. Many credit card coverage providers also offer protection against involuntary unemployment.<\/p>\n\n\n\n<p>You apply for creditor insurance directly through your bank or other lender, and premiums will be set depending on what you want to cover, and how much coverage you want.<\/p>\n\n\n\n<p><strong>How you\u2019re reimbursed:<\/strong><\/p>\n\n\n\n<p>Depending on the type of product or lender you work with, your policy will pay out either ongoing payments or a lump sum to pay off or reduce the debt. The maximum number of payments will differ across providers too.<\/p>\n\n\n\n<p><strong>What\u2019s covered :<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Every policy is different, so inclusions and exceptions will vary.\u00a0<a href=\"https:\/\/www.rbcroyalbank.com\/insurance\/creditor-insurance.html\" target=\"_blank\" rel=\"noreferrer noopener\">RBC<\/a>, for instance, offers three different types of coverage:<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Mortgage balance, to help protect your home<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Loan or line of credit balance, to protect your family\u2019s lifestyle<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>Credit card balance, to help prevent debt from becoming a burden to your family<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>You have worked diligently to build your savings, your assets and a way of life that you love. While we are faced with challenging times, the silver lining is that the outcomes of your hard work can be protected through a variety of programs and policies.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-1414bd60-ed93-422f-b4c9-f368d8948cbc\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=How Your Money Is Protected in Canada &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/insurance-roundup-how-your-money-is-protected-in-canada\/\">\n        <img decoding=\"async\" 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class=\"wp-block-tk-spacer id-847a41ab-64fa-4ca1-931e-eda0c47b00d4\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/banking-digital-banking\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Banking\/ Digital banking<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/11\/Smiling-couple-look-at-a-smartphone-together-symbolizing-excitement-of-building-credit-score.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/11\/Smiling-couple-look-at-a-smartphone-together-symbolizing-excitement-of-building-credit-score.jpg 7008w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/11\/Smiling-couple-look-at-a-smartphone-together-symbolizing-excitement-of-building-credit-score.jpg?resize=300,200 300w, 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col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/\">\n\t\t\t\t\t\tBanking in Canada\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/how-to-build-credit-history-as-a-newcomer-to-canada\/\" class=\"card-title h4 mar-t-0\">How to Build Credit History as a Newcomer to Canada<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/09\/Newcomer-Credit-new-size.png?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A newcomer to Canada stands smiling as she taps her credit card at the payment terminal.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/09\/Newcomer-Credit-new-size.png 1100w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/09\/Newcomer-Credit-new-size.png?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/09\/Newcomer-Credit-new-size.png?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/09\/Newcomer-Credit-new-size.png?resize=1024,682 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/\">\n\t\t\t\t\t\tBanking in Canada\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/a-newcomers-guide-to-loyalty-rewards-credit-cards-in-canada\/\" class=\"card-title h4 mar-t-0\">A Newcomer\u2019s Guide to Loyalty Rewards Credit Cards in Canada<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/A-newcomer-family-teaching-their-children-to-ride-a-bike.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A newcomer family teaching their children to ride a bike\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/A-newcomer-family-teaching-their-children-to-ride-a-bike.jpg 6000w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/A-newcomer-family-teaching-their-children-to-ride-a-bike.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/A-newcomer-family-teaching-their-children-to-ride-a-bike.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/A-newcomer-family-teaching-their-children-to-ride-a-bike.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/A-newcomer-family-teaching-their-children-to-ride-a-bike.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/06\/A-newcomer-family-teaching-their-children-to-ride-a-bike.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/\">\n\t\t\t\t\t\tBanking in Canada\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/tax-free-savings-account-tfsa-for-newcomers-your-guide-to-investing-in-canada\/\" class=\"card-title h4 mar-t-0\">Tax-Free Savings Account (TFSA) for Newcomers: Your Guide to Investing in Canada<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-1414bd60-ed93-422f-b4c9-f368d8948cbc {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-1414bd60-ed93-422f-b4c9-f368d8948cbc {\n\t\t\theight: 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ones.<\/p>\n","protected":false},"author":10,"featured_media":51124,"parent":57308,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[62],"rbc_content_type":[31],"rbc_audience":[59],"rbc_lob_group":[154],"rbc_difficulty_level":[33],"rbc_mmm_category":[318,361,368,367,314,304,316],"class_list":["post-57351","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-banking-digital-banking","rbc_content_type-article","rbc_audience-newcomer","rbc_lob_group-newcomer","rbc_difficulty_level-beginner","rbc_mmm_category-banking-basics","rbc_mmm_category-banking-in-canada","rbc_mmm_category-banking-tips","rbc_mmm_category-budgeting","rbc_mmm_category-life-events","rbc_mmm_category-money-academy","rbc_mmm_category-new-to-canada"],"acf":{"contently_publication_id":"252202","custom_author":"Diane Amato","rbc_video_header":"","rbc_media_duration":"","rbc_video_keywords":"","rbc_video_description":"","rbc_video_upload_date":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":null,"rbc_toc_for_mmm_action":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"Learn more on how you can protect your deposits, investments and personal debts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/insurance-roundup-how-your-money-is-protected-in-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:description\" content=\"Learn 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