B. PERSONAL DEPOSIT ACCOUNT CLIENT AGREEMENT

 What the Words Mean
 General Agreement to Terms
 Fees and Expenses
 Overdrafts
 Access to your Account
 Hold on Items
 Adjustments
 Instruments
 Joint Accounts
 Appointing an Attorney
 Payment Instructions
 Processing of Transactions
 Digital Images or Electronic Representations
 Account Verification
 Inactive Accounts
 Use of Account
 Application of Funds
 Notification of Changes
 Communications
 Release of Funds on Death
 Currency of Payment and Conversion
 Account Closure
 Liability for Damages
 Agency
 Collection and use of personal information
 Complaint or Compliment
 Deposit Insurance
 Assigning the Agreement
 Severance
 Jurisdiction
 Language


  1. What the Words Mean:

    In this Agreement, please remember that

    “you” and “your”means each person who has consented to this Agreement, the Disclosures and any other terms and conditions governing the Account and provided a specimen signature;

    “we”, “us” and “our” means the Bank if an Account is with the Bank, RBMC if an Account is with RBMC and Royal Trust if an Account is with Royal Trust.

    Please also remember that

    “Account” means any personal deposit account you have in your name with us at this time and at any time in the future;
    “Agreement”means this Personal Deposit Account Client Agreement, as amended from time to time, governing your Account;
    “ATM” means Automated Teller Machine;
    “Bank” means Royal Bank of Canada;
    “Branch” means the branch where the Account is opened;
    “Business Day” refers to regular weekdays only and excludes Saturdays, Sundays, bank holidays and federal or provincial statutory holidays;
    “Client Card” means a client card issued to you by the Bank or by Royal Trust under the Client Card Agreement;
    “Client Card Agreement” means the agreement, as amended from time to time, that governs the use of your Client Card;
    “Disclosures” means any statement of the interest rates, fees and other terms and conditions governing the Account that we make in this booklet, RBC Royal Bank Disclosures and Agreements related to Personal Deposit Accounts, as amended from time to time;
    “Electronic Access Agreement” means the agreement, as amended from time to time, that applies when you access or use our Services and Third Party Services (as defined in the Electronic Access Agreement), together with any terms, conditions or disclaimers provided in the Services;
    “Electronic Access Device” means a personal computer, telephone, cell phone, smart phone, mobile device, wireless device, tablet device or any other electronic device that we allow you to use to access the Services;
    “Electronic Communication” means any communication by an Electronic Access Device;
    “Expenses” means all costs, charges, fees, legal expenses and out-of-pocket expenses (together with any goods and services tax or other applicable taxes) incurred from time to time in relation to the Account;
    “Instrument” means a bill of exchange (including a cheque, draft or money order), promissory note or other order for the payment of money given verbally or in paper or electronic form, clearing item, payment item or other value item (including any automated clearing house payment, pre authorized deposit or debit payment), including any image or reproduction of the foregoing. Any such item will be considered an Instrument whether or not you are a party to it and whether it is in Canadian or another currency;
    “Mobile Banking” means access to certain services, features, functionality, content and information that is available through Online Banking through our websites that are specifically designed for mobile use or through a downloadable application that we offer to access the Services;
    “Notification” means documents that we are required to send you in connection with your Account, including, without limitation, amendments to the Disclosures, this Agreement and any other agreements that you have entered into with us, as well as notices on the increase in fees and the introduction of new fees applicable to your Account;
    “Online Banking” means our online banking service and includes Mobile Banking;
    “Overdraft Protection” means an optional service for which you must apply, available on most Accounts and subject to credit approval, whereby we extend credit to you in order for you to make a payment, transfer or withdrawal from your Account up to an approved Overdraft Limit, when the Account has insufficient funds;
    “Overdraft Limit” means the maximum amount that we have set for you to overdraw your Account, if your application for Overdraft Protection has been approved;
    “Primary Owner” means the person we consider to be the main owner of the Account, if this is a joint account;
    “PIN” means your Personal Identification Number;
    “RBC” means Royal Bank of Canada and its subsidiaries and affiliates;
    “RBMC” means Royal Bank Mortgage Corporation;
    “Royal Trust” means Royal Trust Corporation of Canada (in Quebec, The Royal Trust Company);
    “Services” means the services and features that we offer through each or all of Online Banking, Telephone Banking and Mobile Payments (as defined in the Electronic Access Agreement) and that may be accessed by certain Electronic Access Devices;
    “Specimen Signature” means the form for an Account that you signed;
    “Statement” means the monthly statement that shows the transactions and balances during the Monthly Cycle of an Account, which we deliver or made available to you, whether by mail or electronically, if you have chosen this record keeping option; and
    “Telephone Banking” means the telephone banking service offered by us.

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  3. General Agreement to Terms:

    1. Signature and Consent: This Agreement applies to each Account. It replaces all prior agreements between you and us for an Account. If you sign or consent to Account opening documents or make a transaction on an Account, it will mean that you have received and read this Agreement and the Disclosures. It will also mean that you have understood and expressly agreed to all terms in this Agreement, the Disclosures and the Account opening documents.

    2. Representation on the Payment of Taxes: You represent to us that, for so long as you have an Account with us, you have filed and will continue to file truthfully all necessary tax returns, forms and disclosures with respect to all of your transactions and Accounts with each taxation authority having jurisdiction over your tax affairs by reason of your citizenship, residence or domicile. You acknowledge and agree that you are responsible for timely paying any taxes owing to any taxation authority in relation to such Accounts.

    3. Signing Authorities: If you are opening a joint Account with others, you will sign or consent to additional forms setting out the signing authorities for the Account. If this is an estate Account with more than one testamentary executor or liquidator, you must also sign these forms setting out the signing authorities for the Account, in which case the provisions governing joint account owners will be adapted to the extent possible to multiple testamentary executors or liquidators, but the provisions on survivorship upon the death of any joint owner will not apply.

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  5. Fees and Expenses:

    1. Payments: Unless we agree otherwise, you must make all payments under this Agreement in money that is legal tender at the time of payment.

    2. Account Fees: You must pay all fees that apply to an Account, as set out in the Disclosures. We will charge the fees to the Account at the time you incur them.

    3. Expenses and Legal Fees:
      1. You agree to fully indemnify us for any Expenses we incur in collecting or attempting to collect amounts you owe us, including Expenses related to the use of a collection agency.

      2. If there is a dispute about the funds in an Account or the ownership of an Account, we may freeze the funds in the Account until such time as the dispute is resolved, apply to the court for directions or pay the funds into court, for which payment shall be in Canadian dollars with the conversion occurring on the date of payment at a currency conversion rate established by us. In any case, we shall fully recover any Expenses incurred by us from the funds in the Account.

      3. In the event of any executions of third party demands or claims against or related to the Account, we may fully recover any Expenses incurred by us, and all such payments made under this subsection shall be in Canadian dollars, with the conversion to occur on the date of payment at a currency conversion rate established by us.
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  7. Overdrafts:

    1. Once you have been approved for Overdraft Protection, you may overdraw your Account at any time up to the Overdraft Limit. However, overdraft protection services are at our complete discretion and control. We may refuse to pay a cheque or payment item, or honour a withdrawal request made against an Account at any time, if there are insufficient available funds, even if you have been approved for Overdraft Protection and not exceeded the Overdraft Limit.

    2. Even if you do not have Overdraft Protection, we may allow you to overdraw an Account or, if you have been approved for Overdraft Protection, we may allow you to exceed your approved Overdraft Limit from time to time at our complete discretion. But if we do, we may stop allowing you to do so at any time, without notice to you. We will not be liable for any loss, damage or inconvenience suffered by you if we stop allowing you to overdraw an Account, in the first instance, or exceed your Overdraft Limit, in the second instance.

    3. As soon as you make a deposit to your Account, it will automatically be applied to your overdrawn balance. If an Account is overdrawn, you will make a deposit at least once each month, in an amount that will cover the monthly overdraft interest. You will also pay us interest on the overdraft at the interest rate set out in the Disclosures. We will post that interest to the Account on a monthly basis at the time(s) stated in the Disclosures.

    4. If you do not have Overdraft Protection and we have allowed you to overdraw your Account, or if you have been approved for Overdraft Protection and we have allowed you to exceed your approved Overdraft Limit, you agree to repay the overdrawn amount in the first instance, or the amount in excess of the Overdraft Limit, in the second instance, within 90 days.

    5. Notwithstanding sub-sections c) and d) above, you will pay us, when we ask, the amount of any overdraft(s) in an Account, together with interest on the amount of the overdraft(s). You will pay these amounts even if you have been paying interest and making monthly deposits to the Account as required.

    6. You may cancel Overdraft Protection at any time by visiting your Branch; or by calling us toll-free at 1-800 ROYAL 1-1 (1-800-769-2511). The cancellation will be in effect for the next Monthly Cycle of your Account.
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  9. Access to your Account: We will determine how you may access your Account, including ways to identify you when you require our services. We may issue you a Client Card and require it to be used in certain channels to gain access to your Account. If we do, we will provide you with the rules governing its use in the Client Card Agreement. Your Client Card is a separate product from your Account.
    1. The Account is for your personal banking needs only. If the Account is used for business purposes, we can close the Account.

    2. We can require you to come to the Branch to do any transaction.

    3. We may permit you to access an Account and conduct transactions through other channels, such as online or by telephone, subject to the following:

      1. If the Account is accessed via Client Card at an ATM, merchant location or other designated debit card terminals, your transactions will also be governed by the terms of the Client Card Agreement.

      2. If an Account is accessed via Electronic Access Device, your transactions will also be governed by the terms of the Electronic Access Agreement.

      3. If the Account is accessed using an RBC Virtual Visa Debit Number, your transactions will also be governed by the terms of the RBC Virtual Visa Debit Agreement.
    4. You may arrange with another party to have pre-authorized payments withdrawn from an Account on a regular basis. You must contact the other party directly to cancel any such arrangements.

    5. We can refuse a deposit to an Account or refuse to accept any Instrument.

    6. Access to an Account and transactions may be subject to daily limits or other limits set by us. We will tell you the Account limits from time to time.
    7. Under certain circumstances we may not let you use a new Account immediately. Similarly, if you change the interest and fee components of your Account, the new interest and fee structure may not apply immediately. We will advise you of the delay at the time you open your Account or change the interest and fee components of your Account.

    8. You acknowledge that nothing in this Agreement, the Disclosures or any other agreement between you and us, will prevent us from restricting access to an Account, refusing to release funds in an Account if we are required to do so or if, in our opinion, there is unusual, improper or suspicious activity in an Account, or closing an Account for any reason, in our complete discretion.

    9. You agree to take all reasonable precautions to maintain the security and integrity of your Account and to prevent fraudulent transactions in your Account. You agree to advise us of any suspicious circumstances that you are aware of surrounding an item for deposit or other transaction in your Account at the time of your instruction to us.
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  11. Hold on Items: You acknowledge that we have the right to hold the proceeds of any Instrument deposited to an Account, and to defer your right to withdraw funds represented by such a deposit. If we decide to hold the proceeds of a deposit, those funds will be released to you after the following number of Business Days:

    • Four (4) Business Days after the day of deposit for cheques and other negotiable items in Canadian dollars deposited to a personal deposit account in person with an employee at one of our branches or points of service and drawn on a Canadian branch of a Canadian financial institution;
    • Five (5) Business Days after the day of deposit for cheques and other negotiable items in Canadian dollars deposited in any other manner (such as at an ATM) drawn on a Canadian branch of a Canadian financial institution;
    • Five (5) Business Days for cheques and other negotiable items in United States dollars drawn on a Canadian branch of a Canadian financial institution;
    • Fifteen (15) Business Days for cheques and other negotiable items drawn on U.S. banks, deposited at a Canadian branch of the Bank or at one of the Bank’s ATMs;
    • Twenty-five (25) Business Days for cheques and other negotiable items drawn on foreign banks other than U.S. banks.

    If the item deposited is returned for any reason after the hold period expires, we will charge the amount of the item to your Account. We also have the option to send any negotiable item on collection rather than hold the proceeds as set out above.

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  13. Adjustments: We may adjust a deposit to an Account at any time (even if the adjustment creates an overdraft or results in an Account being overdrawn in excess of your Overdraft Limit) if an Instrument is dishonoured, not paid or paid but subsequently returned for any reason whatsoever. We may also adjust an Account to correct amounts that we believe were credited to an Account by mistake or that we suspect could be the result of any fraudulent, unlawful or improper activity or to correct amounts paid to you in cash for an item that was subsequently returned to us as unpaid. You waive presentment for payment, notice of dishonour, protest and notice of protest on all Instruments requiring such action
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  15. Instruments
    1. General: All Instruments must comply with applicable laws and any other specifications we may provide from time to time. We may present and deliver Instruments for payment, clearing, collection, acceptance or otherwise through any financial or other institution, and in any manner, as we deem appropriate. We may also accept and deliver any form of settlement or payment for any Instrument as we deem appropriate. Instruments are subject to the applicable laws of each jurisdiction in which they are processed, including any intermediary jurisdiction in which they are processed through, and you are responsible to ensure all Instruments comply with such applicable laws. We are not responsible for any losses relating to an Instrument which contravenes applicable laws.

    2. Other Financial Institutions and Beneficiaries: The beneficiary of an Instrument may not receive the funds on the date the funds are debited from your Account. We are not responsible for the actions or omissions of any third parties, including beneficiaries or other financial institutions sending, receiving, or processing Instruments in connection with our services, or for any losses arising out of, or incidental to, any of the foregoing. You are responsible for notifying applicable persons when an Instrument is sent, and of the delivery methods used to send the Instrument. You are responsible for confirming each Instrument is accessed, sent, received, accepted, and processed as intended. Other institutions or persons may set limits, requirements, and restrictions on the sending, receiving, or processing of the Instrument, including on the amount, currency, or legitimacy of the Instrument, and you are responsible for adherence to such limits, requirements, and restrictions.

    3. U.S. and Other Foreign Currency Instruments: You will ensure that before you negotiate an Instrument drawn on a financial institution from the United States or other foreign country, each Instrument will bear your name (as it appears on the Account) and Account number at the back of the Instrument. If the required information is not present, the Instrument will be returned and we will debit your Account.

    4. Stop Payments: You will ensure that the cheque or debit to be stopped has not already been paid or processed through the Account. The following information must be provided for each cheque or debit to be stopped: (i) amount; (ii) date; (iii) payee name; (iv) serial number (note that the MICR encoded serial number is required in order for the system to capture it); and (v) reason for the stop payment. To stop a series of pre-authorized debits, stop payment instructions must be submitted for each debit in the series. Any stop payment instruction will remain in place for only one (1) year from the date we accept the instruction. It is your responsibility to follow up on all stop payment instructions, and to ensure the payee has been notified that a stop payment instruction has been given. The issuance and processing of a stop payment instruction may not affect the legal obligation to the payee or any other person. The payee must be contacted directly to cancel any contract with the payee as required. We will process all stop payment instructions on a best effort basis, but we do not guarantee a cheque or debit will be stopped even if a stop payment instruction has been processed. We are not responsible for any losses arising as a result of a stop payment instruction.
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  17. Joint Accounts: You will be jointly and severally (in Quebec, solidarily) liable to us for the performance of all of your duties under this Agreement and the Disclosures, including the repayment of any joint Account overdraft (and overdraft interest) no matter who created it. This means the funds deposited by one co-owner into a joint Account will be subject to creditor’s rights or other claims that might exist against the other co-owner(s).

    1. Liability: You will be jointly and severally (in Quebec, solidarily) liable to us for the performance of all of your duties under this Agreement and the Disclosures, including the repayment of any joint Account overdraft (and overdraft interest) no matter who created it. This means the funds deposited by one co-owner into a joint Account will be subject to creditor’s rights or other claims that might exist against the other co-owner(s).

    2. Rights of Co-Owners: Any one of you may (even if you have set up signing authorities to the contrary under subsection (d) below):

      1. Make deposits to the Account payable to all or any one of you. We may also endorse any Instruments received from or for any one or more of you;
      2. Provide instructions to remove Overdraft Protection or to stop payment on any Instrument drawn on a joint Account;
      3. Receive Account Statements, Notifications and other transaction records on a joint Account;
      4. Make decisions related to the Account that are administrative in nature, such as those that do not remove funds from the Account. For example, any co-owner may change the mailing address for paper Account Statements and Notifications or switch to receive electronic Account Statements and Notifications instead of paper Account Statements and Notifications or change the interest and fee components of the Account (in an Account switch or conversion). If you make any of these changes, you agree to notify your co-owner(s) of them. For clarity, removing or adding a co-owner is not considered an administrative decision.
    3. Access to Account History: Each one of you will have access to all of the Account history and transaction details for this Account, and you agree to this access being provided.

    4. Signing Authorities: You may choose to set up the signing authorities for the joint Account (as designated on the required Bank documents) in the manner specified below.

    5. We may honour an Instrument and accept any other instruction or direction in respect of the joint Account that has been signed, submitted or received in the case of:

      1. “Any One To Sign”, by one (or more) of you, and for this purpose each of you appoints the other(s) as your agent(s). This means any one of the Account co-owners may use the funds in the Account for any purpose without obtaining the consent of the other co-owner(s);
      2. “All To Sign”, only if it has been signed by all of you. This means all co-owners of the Account must use the funds in the Account only with the consent of all the other co-owners;
      3. “Other (specify)”, only by you, or the agreed number of you, identified on the required Bank documents. This means only the co-owner(s) you have identified must use the funds in the Account with the consent of the other co-owner(s) you have identified.

      If you do not choose any signing authorities for the joint Account, we will set it up under option (i) above: Any One To Sign.

    6. Adding a Co-Owner: you agree that by adding one or a number of co-owner(s) to the joint Account, the added co-owner(s) will also have access to the complete previous Account history and transaction details for the Account, and you agree to this access being provided.

    7. Removing a Co-Owner: you agree that if one or a number of co-owners are removed from the joint Account, the joint Account will be closed.

    8. Paper Records:
      1. If your recordkeeping option for the Account is paper (Statements or bankbook), the first co-owner entered in our records will be the Primary Owner of the Account
      2. If you have chosen paper Account Statements and Notifications as your record keeping option, we will mail one copy of the paper Account Statements and Notifications to the mailing address of the Primary Owner of the Account, unless you have given us other instructions.
      3. Any co-owner who receives the paper Statements and Notifications for the Account is charged with the duty of making copies available to the other co-owners;
      4. If any co-owner changes the mailing address of the Account to that of another co-owner, they are bound to notify their co-owners of the change.
      5. Any delivery of paper Account Statements or Notifications made to the last address designated to receive paper Statements and Notifications for the Account is considered a delivery to each co-owner. It is the duty of each co-owner to keep the mailing address of the Account current.

    9. Electronic Records:
      1. If your recordkeeping option for the Account is electronic, electronic Account Statements will be delivered by way of links in messages to the Message Centre in Online Banking of the co-owner who chose electronic Statements and Notifications as the record keeping option for the Account. But a copy of the electronic Statements will be made available to all co-owners who have access to Online Banking. Electronic Notifications may appear on an electronic Account Statement or will be delivered by way of message to the Message Centre or links in messages to the Message Centre in Online Banking of all co-owners who have access to Online Banking.
      2. Only the requester (the initiator of the change to electronic Account Statements and Notifications) will be notified by way of message to the Message Centre for making the change from paper to electronic Account Statements and Notifications.
      3. The requester is charged with the duty of advising the other co-owner(s) of the change to electronic documents. Similarly, the requester is charged with the duty of advising the other co-owners, in the event they opt for paper Statements and Notifications.
      4. If any co-owner does not have access to Online Banking, then the co-owner who initiated the change to electronic Account Statements and Notifications is charged with the duty of delivering copies of any Account Statements and Notifications to the co-owner(s) who do not have access to Online Banking.
      5. If you have chosen to receive electronic Account Statements and Notifications for the Account, then at least one co-owner will enrol in Online Banking and at least one co-owner will stay enrolled in Online Banking during the time that your Account Statement or Notification delivery option is electronic.

    10. Survivorship:Your joint Account has the right of survivorship, which means it is your intention that, on your death, the balance of the joint Account shall be paid to the surviving joint Account holder(s), subject to the right of set-off described below. You irrevocably direct us, upon receipt of a demand from the surviving joint Account holder(s) requesting the balance of the Account to be paid to the surviving Account holder(s), and our receipt of evidence of your death that is acceptable to us, to act in accordance with such request, by removing your name from the joint Account, subject to any applicable laws on the period of survivorship. We shall be entitled, although not compelled, to do so without inquiring whether the surviving joint Account holder(s) has, as between the surviving joint Account holder(s) and your heirs, executors, administrators, assigns or any third party, the beneficial right to the monies so directed and without recognizing any claim of any third parties. If a dispute arises between any of these parties, we will not be liable for any loss, damage or legal costs incurred. None of the foregoing releases you or your estate from liability for debts or overdrafts owing to us and incurred prior to and on your death.

      Set-off: We reserve the right of set-off against each of you jointly and severally. This means that, on your death, all your debts owing to us incurred prior to and on your death may be paid, in part or in full, out of the joint Account. The remaining balance, if any, of the joint Account shall be paid to the surviving joint Account holder(s) in accordance with the right of survivorship described above.

      Quebec: This provision does not apply to a joint Account located at any Branch in Quebec, regardless of your residence. For greater clarity, if a joint Account is located at a Branch outside of Quebec but is subsequently moved to a Branch in Quebec, this provision will not apply once the joint Account is moved to the Branch in Quebec. If a joint Account is located at a Branch in Quebec but is subsequently moved to a Branch outside of Quebec, this provision will apply once the joint Account is moved to the Branch outside of Quebec.

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  18. Appointing an Attorney: You may appoint one or more attorneys to act for you in respect of an Account. However, we may refuse to accept the appointment in our sole discretion if it is not satisfactory to us, or we may refuse to honour any Account transaction made by an attorney (or by any committee, property guardian or similar representative appointed by a court to act for you in respect of an Account). If an Account is a joint Account, we may also refuse to honour any Account transaction made by an Attorney (or by any committee, property guardian or similar representative appointed by a court to act for you in respect of an Account) unless their appointment in respect of the joint Account has been agreed upon (in writing) by all Account owners. An Attorney will have access to the previous Account history and transaction details for the Account, and you agree to this access being provided.
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  20. Payment Instructions:
    1. You will give us payment instructions in person at the branch, by telephone, in Online Banking or in any other way we may authorize. We may allow you to give payment instructions by mail, provided you accept any additional terms and conditions which we may impose.

    2. If you give us instructions to make payments or transfer funds to payees, including instructions to pay any bill or invoice, you acknowledge that the instructions will result in funds being withdrawn from your Account on the date the instructions are given or, in the case of post-dated payments, at a later date. You acknowledge that payees may not treat payments as being received as of the date the instructions are given or, in the case of post-dated payments, on the later date. We will not be responsible for any losses resulting from disputes with the payee, such as a payee not crediting you for a payment for any reason (even if that payee is no longer included on your payee list), charging you late fees or interest penalties or not supplying goods or services purchased or the goods or services not being suitable. You agree to settle your dispute directly with that payee.

    3. You are responsible for ensuring that all payee information (including account numbers, payee names or email addresses) required by us to complete your payment instructions to a payee is accurate at all times.

    4. We may, without notice, update your payee information, including account numbers, payee names or email addresses, if informed of a change by that payee or if we think it necessary. We may in our discretion, and without notice to you, remove a payee from the list of payees to whom you may make a payment through us.

    5. We may, in our complete discretion, and without notice to you, decline or refuse to act on an instruction that appears to be given by you, including instructions relating to post-dated payments, or if we believe that you, the recipient of any payment or any other party standing to benefit, is engaging in fraudulent, unlawful or improper activity or that an error or mistake has occurred.
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  22. Processing of Transactions: You acknowledge that any transaction you make on a Business Day, such as a deposit, withdrawal, payment, stop payment or transfer, may not be processed by us on the same Business Day. If you are making payments or transferring funds to another party or to another account held with us, an RBC company or another institution, you acknowledge that there may be processing delays that apply to the payment or transfer. You are responsible for finding out what processing delays apply to any transaction and for allowing enough time prior to the transaction. We will not be responsible for any losses, damages or inconvenience suffered by you resulting from a delay in the transaction, whether such delay is caused by systems or human error or failure or for any other reason, subject to the liability for damages provision in section 23 below.
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  24. Digital Images or Electronic Representations: You acknowledge that digital images or electronic representations of Instruments may be made or captured and used by financial institutions involved in the exchange and clearing of payments in Canada and elsewhere, in which case the original paper item may be destroyed and not returned to you. We are entitled to act upon such images or representations for all purposes as if they were paper items. We may reject any Instrument that does not comply with all policies and standards of the Bank. If you have your cheques printed by a vendor that has not been approved by us, or you use security features or you make your cheque out in a way (e.g. using lightly coloured ink) that causes critical data to disappear or be obscured upon imaging, you agree to bear the risk of any loss, damage or expense.
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  26. Account Verification: You must regularly examine all Account transaction information in your Account Statements or bankbook. If you opted to receive electronic Account Statements, you agree to go online and to check your Statements regularly and at least once each month and, if this is a joint Account, to deliver copies of the Account Statements to any co-owner who does not have access to Online Banking. You will notify us in writing of any errors, irregularities, omissions, unauthorized transactions or forgeries related to or in the Account transaction information within 45 days from the date of your Account Statement or for any Account in which you have chosen a bankbook 45 days from the date of the transaction. If you do not notify us as required, you will have accepted the Account transaction information and Account Statements as complete, correct and binding on you, and we will be released from all claims by you in respect of the Account transaction information and Account Statements, including any transaction and balance errors.
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  28. Inactive Accounts: Your Account will be designated as inactive if you have not initiated activity for at least two consecutive calendar years. We will notify you in writing in January after the first two-year, five-year and nine-year period of inactivity. If you do not initiate a transaction or communicate with us, an inactive fee will be charged to your Account each year the Account remains inactive. If there are insufficient funds in your Account to cover the service charges, you authorize us to close your Account without notice to you. If your Account remains inactive and the balance is still unclaimed after the nine-year inactive notice is sent, we will close your Account. Interest, if applicable to your Account, will be paid until the Account is closed. After 10 years of inactivity, your Account balance becomes unclaimed under federal law and will be transferred to the Bank of Canada. To claim Account balances transferred to the Bank of Canada, you must file a claim with the Bank of Canada.
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  30. Use of Account:

    1. You may not give anyone (other than the Bank, RBMC or Royal Trust) a security interest in any funds in an Account, whether by assignment, hypothec, transfer or otherwise.
    2. You acknowledge that you are not carrying on or associated with activities that are improper, illegal or unlawful or that you are connected with a business that we may determine, in our sole discretion, is a restricted business. You acknowledge that the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and Regulations, as they may be amended from time to time, apply to the operation of your Accounts and that we will, from time to time, adopt policies and procedures to address the reporting, client identification and recordkeeping requirements of this legislation. You agree to abide by and comply with all such policies and procedures, as applicable, and recognize that such policies and procedures may be more rigorous than the statutory or regulatory requirements. You agree that the Account is not to be used by, or on behalf of, a third party or parties without our prior written permission.
    3. We reserve the right to prevent your Account from being used for certain types of transactions as determined by us, including transactions connected to internet/online gambling, noting that non-permissible transactions exclude internet/online gambling related transactions originating from an internet/online gambling website which is offered through a lawfully established provincially run lottery corporation in Canada.
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  32. Application of Funds: We may apply the funds on deposit in an Account against any debt or obligation you or any one of you, if this is a joint Account, owe to the Bank, RBMC, Royal Trust or any deposit-taking subsidiary of the Bank without notice to any of you. We may also apply the funds in any account you may have with us or with any of our subsidiaries against a debt or obligation you owe related to an Account. If such debt or obligation is in a currency other than the currency of the Account, we may use all or part of such credit balance to buy any currencies that may be necessary to pay the debt or obligation.
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  34. Notification of Changes: We may change the interest rates, fees and other operating conditions for an Account periodically as set out below:

    1. You will be given at least 30 days prior notice of each change to this Agreement.

    2. We will notify you of changes in the interest rate(s) applicable to funds on deposit in an Account (and the manner of calculating the amount of interest we will pay you on those funds) by statements displayed in the Branch.

    3. We will notify you of any new fees or increases to fees applicable to an Account:
      1. by statements displayed in the Branch and at our ATM at least 60 days before the effective date of the changes, or

      2. by notice included with any Account Statements (if you receive them) or separately at least 30 days before the effective date of the changes.
    4. We will notify you of changes to the interest rate we apply to Account overdrafts in the way set out in (a) or (b) above.

    5. If you use an Account or have funds on deposit in the Account after the effective date of a change, it will mean that you have agreed to the change

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  35. Communications: We will communicate with you about Account activity in the manner you have requested.

    1. If you have requested communication by ordinary mail, we will send you mail to the last address provided. If any communication is returned as undelivered, we will not mail anything further to that address again. The onus is on you to tell us if you have not received an Account Statement or Notification. It is your responsibility to keep your address with us current.
    2. If you have requested Electronic Communication, you must fulfill any applicable eligibility criteria and provide any proper authorizations we may require from time to time. If you have requested to receive electronic Account Statements and Notifications, you acknowledge that paper Account Statements and Notifications will be replaced with electronic Account Statements and Notifications.
    3. Any Electronic Communication that we receive from you or in your name will be considered duly authorized and binding upon you, and we will be authorized to rely and act upon any such communication. In this connection:
      1. we will be entitled to rely upon any signature appearing on a facsimile transmission that purports to be your signature or the signature of your representative; and
      2. you recognize that possession or use of a security device (including a security card, a security code or a secret access code) by any other person may result in that person having access to and being able to use the relevant means of Electronic Communication, and we will not be liable for any loss, damage, expense or inconvenience that results.
    4. You acknowledge and agree that if you choose to use, or instruct us to use, any means of any unsecure communication, such as by mail, or by Electronic Communication that is not encrypted, including without limitation, non-secure dedicated or internet connections, or any fax or unencrypted email communication, that
      1. such security, privacy and confidentiality cannot be ensured;
      2. such communication is not reliable and may not be received by the intended recipient in a timely manner or at all;
      3. such communication could be subject to interception, loss or alteration; you assume full responsibility for the risks in connection with such communication, and we will not be responsible or liable in any way in connection with such communication, including without limitation any unauthorized access to, or interception, loss or alteration of, such communication; and-
      4. if you communicate with us using an unsecure channel of communication, we may at our complete discretion choose not to act upon the content if we have doubts as to its authenticity.
    5. If you asked to communicate with us in an unsecure channel and we choose to act on an unsecure communication that we receive from you or in your name, it will be considered duly authorized and binding upon you, and we will be authorized to rely and act upon any such communication. In this connection we will be entitled to rely upon any signature appearing on a paper document or on a facsimile transmission that purports to be your signature, or that of your representative, and we will not be liable for any loss, damage, expense or inconvenience that results.
    6. You will keep the originals of all Electronic Communications and produce them to us on request.
    7. You acknowledge that we do not need to constantly monitor our facsimile machines or other electronic channels and will only be required to use reasonable efforts to determine if an Electronic Communication has been received.

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  37. Release of Funds on Death: We will require estate documentation to release funds from any Account upon death of an Account owner. Estate documentation means any document that may be required by us in our absolute discretion, and may include a death certificate, probated will or notarial will (in Quebec). In the event of any dispute regarding the release of funds upon your death, we may pay the amounts held in any Account into court and recover any Expenses, including legal fees, incurred by us from the funds in an Account. For further clarity, we may fully recover from the Account any Expenses for the translation of any documentation provided in connection with the release of the funds. With respect to joint Accounts, we are authorized to release any information about the Account to the estate representative of the deceased Account co-owner up to the date of the death, except in Quebec where the liquidator is entitled to all Account information up to or after the death of a co-owner.
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  39. Currency of Payment and Conversion: Unless otherwise stated in the Disclosures, the fees and interest are charged and payable in the currency in which the Account is maintained without conversion. We are not responsible for any increase or reduction in the value of your Account due to changes in foreign currency exchange rates. If an Instrument is in a currency other than the currency of the Account, and the Instrument is to be credited to or debited from the Account, you agree that we may convert the Instrument at the applicable currency conversion rate established by us in our discretion for such purpose. We are not responsible for any losses related to foreign currency conversions, including those resulting from a change to our currency conversion rates between the date an Instrument is converted by us and the date the Instrument is processed or returned. The conversion rate in effect at the time you request a service may be different from the rate in effect at the time your transaction takes place that we apply. You are solely responsible for any losses related to foreign currency conversions in connection with our services, including those resulting from a change to our currency conversion rates and any loss in the value or amount of an Instrument due to an adverse change to such rates.
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  41. Account Closure: Any funds on deposit in a joint Account you close may only be withdrawn by a cheque or other withdrawal signed as required by subsection 9(d) of this Agreement. Payment of any funds on deposit in a joint Account we close will be made to all of you jointly. We may close or suspend an Account for any reason in our absolute discretion and without notice, including if you do not conduct it in accordance with this Agreement, the Disclosures and the law, or if, in our opinion, there is unusual, improper or suspicious activity in the Account. If we close an Account, we will issue a cheque or draft in the amount of any net balance in the Account at the date of closure payable to all Account holders and deliver it at your risk to the last known address for the Account.
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  43. Liability for Damages: We will not be liable for any loss, damage or inconvenience suffered by you except in a case where there has been negligence on our part, even if we have been advised of the possibility of such damages. We will not, under any circumstances (even if we are negligent), be liable for any indirect, consequential, special, aggravated, punitive or exemplary damages whatsoever caused to you, regardless of the cause of action. In no event, even if we are negligent, will we be liable to you for any loss or damage suffered by you resulting from:

    1. any failure, error, malfunction, delay or inaccessibility of any machine, system or equipment;

    2. any failure, error or delay by any third party;

    3. your failure to fulfill any of your obligations under this Agreement; or

    4. any circumstances beyond our control.

    You also acknowledge the limitations on our liability in this Agreement, including those in sections 4, 9, 11, 12, 13, 14, 19 and 21.

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  45. Agency: You acknowledge that the Bank acts as agent for RBMC in processing all transactions on an Account you have with RBMC.
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  47. Collection and use of personal information:

    Collecting your personal information

    We may from time to time collect financial and other information about you such as:

    • information establishing your identity (for example, name, address, phone number, date of birth, etc.) and your personal background;
    • information related to transactions arising from your relationship with and through us, and from other financial institutions;
    • information you provide on an application for any of our products and services;
    • information for the provision of products and services; and
    • information about financial behaviour such as your payment history and credit worthiness.

    We may collect and confirm this information during the course of our relationship.

    We may obtain this information from a variety of sources, including from you, from service arrangements you make with or through us, from credit reporting agencies and financial institutions, from registries, from references you provide to us and from other sources as is necessary for the provision of our products and services.

    You acknowledge receipt of notice that from time to time reports about you may be obtained by us from credit reporting agencies.

    Using your personal information

    This information may be used from time to time for the following purposes:

    • to verify your identity and investigate your personal background;
    • to open and operate your Account(s) and provide you with products and services you may request;
    • to better understand your financial situation;
    • to determine your eligibility for products and services we offer;
    • to help us better understand the current and future needs of our clients;
    • to communicate to you any benefit, feature and other information about products and services you have with us;
    • to help us better manage our business and your relationship with us;
    • to maintain the accuracy and integrity of information held by a credit reporting agency; and
    • as required or permitted by law.

    For these purposes, we may:

    • make this information available to our employees, our agents and service providers, who are required to maintain the confidentiality of this information;
    • share this information with other financial institutions; and
    • give credit, financial and other related information to credit reporting agencies, who may share it with others.

    In the event our service provider is located outside of Canada, or if you have a U.S. dollar account and information is shared with and used by our U.S. employees and agents, the recipient of the information is bound by, and the information may be disclosed in accordance with, the laws of the jurisdiction in which the recipient of the information is located.

    Upon your request, we may give this information to other persons.

    We may also use this information and share it with RBC companies

    1. to manage our risks and operations and those of RBC companies;

    2. to comply with valid requests for information about you from regulators, government agencies, public bodies and other entities who have a right to issue such requests; and

    3. to let RBC companies know your choices under “Other uses of your personal information” for the sole purpose of honouring your choices.

    If we have your social insurance number, we may use it for tax-related purposes if you hold a product generating income and share it with the appropriate government agencies, and we may also share it with credit reporting agencies as an aid to identify you.

    Other uses of your personal information

    • We may use this information to promote our products and services, and promote products and services of third parties we select, that may be of interest to you. We may communicate with you through various channels, including telephone, computer or mail, using the contact information you have provided.
    • We may also, where not prohibited by law, share this information with RBC companies for the purpose of referring you to them or promoting to you products and services that may be of interest to you. We and RBC companies may communicate with you through various channels, including telephone, computer or mail, using the contact information you have provided. You acknowledge that as a result of such sharing, they may advise us of those products or services provided.
    • If you also deal with RBC companies, we may, where not prohibited by law, consolidate this information with information they have about you to allow us and any of them to manage your relationship with RBC companies and our business.

    You understand that we and RBC companies are separate, affiliated corporations. RBC companies include our affiliates which are engaged in the business of providing any one or more of the following services to the public: deposits, loans and other personal financial services; credit, charge and payment card services; trust and custodial services; securities and brokerage services; and insurance services.

    You may choose not to have this information shared or used for any of these “Other uses” by contacting us as set out below, and in this event, you will not be refused credit or other services just for that reason. We will respect your choices and, as mentioned above, we may share your choices with RBC companies for the sole purpose of honouring your choices regarding “Other uses of your personal information.”

    Your right to access your personal information

    You may obtain access to the information we hold about you at any time and review its content and accuracy and have it amended as appropriate; however, access may be restricted as permitted or required by law. To request access to such information, to ask questions about our privacy policies or to request that the information not be used for any or all of the purposes outlined in “Other uses of your personal information” you may do so now or at any time in the future by:

    • contacting your branch; or
    • calling us toll-free at 1-800 ROYAL 1-1 (1-800-769-2511).

    Our privacy policies

    You may obtain more information about our privacy policies by asking for a copy of our “Financial fraud prevention and privacy protection” brochure, by calling us at the toll-free number shown above or by visiting our website at www.rbc.com/privacysecurity (opens new window)

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  49. Complaint or Compliment:If you have a problem or concern, you may telephone or visit your Branch.

    If your problem is not resolved to your entire satisfaction, we encourage you to contact:

    Client Care Centre
    P.O. Box 1, Royal Bank Plaza
    Toronto, Ontario M5J 2J5
    Telephone: 1-800-769-2540, please choose language option, then option 2
    Fax: 416-974-3561
    Email: clientcarecentre@rbc.com

    If you are still not satisfied, you may refer the matter to:

    RBC Office of the Ombudsman
    P.O. Box 1, Royal Bank Plaza
    Toronto, Ontario M5J 2J5
    Telephone: 1-800-769-2542
    Fax: 416-974-6922
    Email: ombudsman@rbc.com

    Should all of our efforts to resolve a dispute fail, you may turn to:

    ADR Chambers Banking Ombuds Office
    P.O. Box 1006
    31 Adelaide Street East
    Toronto, Ontario M5C 2K4
    Telephone: 1-800-941-3655
    Fax: 1-877-303-5127
    Email: contact@bankingombuds.ca
    Website: www.bankingombuds.ca

    If you have a regulatory complaint, you may contact:

    Financial Consumer Agency of Canada
    6th Floor, Enterprise Building
    427 Laurier Ave. West
    Ottawa, Ontario K1R 1B9
    English: 1-866-461-2232
    Fax: 1-866-814-2224
    Website: www.fcac-acfc.gc.ca

    We publish a brochure (“How to make a complaint”) about getting assistance with problems and concerns you have about an Account. You may obtain a copy of this brochure at any of our Branches in Canada or by writing to us.

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  51. Deposit Insurance: The Bank, Royal Trust and RBMC are members of Canada Deposit Insurance Corporation (CDIC). A deposit with any of these institutions is eligible for CDIC deposit insurance coverage, provided it is made in Canadian dollars and payable in Canada and the total deposits you hold do not exceed $100,000 per institution per insurance category – for more information contact CDIC directly at info@cdic.ca or 1-800-461-2342.
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  53. Assigning the Agreement: We reserve the right to assign this Agreement to any of our deposit-taking affiliates at any time.
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  55. Severance: If any part of this Agreement is held unenforceable for any reason, the unenforceable portion of this Agreement will not affect the enforceability of the remainder of the Agreement, which will continue in full force and effect as if this Agreement had been executed without the unenforceable portion.
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  57. Jurisdiction: This Agreement and all services related to the operation of the Account will be governed by the laws of Canada and by the laws of the province in which the Branch of the Account is located. You agree to submit to and be bound by those laws and the courts of that jurisdiction.
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  59. Language: You and we have expressly requested that this Agreement and all related documents, including notices, be drawn up in the English language. Vous et nous avons expressément demandé que ce contrat et tout document y afférent, y compris tout avis, soient rédigés en langue anglaise.

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