Why Choose an RBC Student Bank Account?

RBC understands the unique financial needs of students. That’s why we’ve tailored our Student Bank Account to provide:

• No Monthly Fees: Enjoy fee-free banking while you’re a student.
• Unlimited Transactions: No limits on debit purchases, transfers, or withdrawals.
• Mobile Banking & App Access: Manage your account anytime, anywhere with the RBC Mobile app.
• Student Discounts & Perks: Exclusive offers on banking products and partner services.
• Overdraft Protection: Avoid costly NSF fees with optional overdraft options.

With RBC, you’re not just opening a bank account—you’re gaining a financial partner for life.

RBC Student Bank Account Types

1. RBC Student Banking Account

Perfect for: Full-time students aged 13–24 (or up to age 35 for graduate students).

Key Features:

• No monthly fees for up to 5 years after opening.
• Unlimited debit purchases and Interac e-Transfers®.
• Free paperless statements and mobile cheque deposits.
• Access to RBC’s Student Discount Hub for savings on tech, travel, and more.
• Optional RBC Credit Card for Students with no annual fee (subject to approval).

Eligibility:

• Must be enrolled in a Canadian post-secondary institution.
• Valid student ID required.

2. RBC Advantage Banking for Students

Perfect for: Students who want premium benefits with minimal fees.

Key Features:

• $4 monthly fee (waived for full-time students).
• Unlimited transactions and Interac e-Transfers®.
• Free safety deposit box for 1 year.
• Discounted rates on RBC mortgages and loans.
• Access to RBC InvestEase for beginner investors.

3. RBC Virtual Visa* Debit Card

Perfect for: Students who prefer digital-first banking.

Key Features:

• Link to your RBC Student Account for seamless spending.
• Works with Apple Pay, Google Pay, and Samsung Pay.
• No foreign transaction fees for online purchases.
• Fraud protection and real-time transaction alerts.

Student Account Benefits: More Than Just Banking

Financial Education & Tools

• RBC Budget Planner: Track your spending and save for big goals.
• Student Savings Calculator: See how small deposits grow over time.
• Financial Literacy Workshops: Free webinars on budgeting, credit, and investing.

Exclusive Discounts & Rewards

• Amazon Prime Student: 6-month free trial + 50% off after.
• Spotify & Apple Music: Discounted subscriptions via RBC Rewards.
• Travel Perks: Save on flights, hotels, and car rentals with RBC partners.
• Tech Deals: Up to 20% off laptops, phones, and accessories.

Security & Convenience

• 24/7 Fraud Monitoring: Real-time alerts for suspicious activity.
• Contactless Payments: Tap to pay with your debit or credit card.
• Global ATM Access: Use RBC ATMs worldwide with no foreign fees.
• Student Travel Insurance: Coverage for medical emergencies abroad (add-on option).

How to Open an RBC Student Bank Account

Step-by-Step Guide

1. Check Eligibility: Ensure you meet the age and enrollment requirements.
2. Gather Documents:
   • Valid government-issued ID (passport, driver’s license, or PR card).
   • Student ID or letter of enrollment from your school.
   • Social Insurance Number (SIN) for tax purposes.
3. Choose Your Account: Decide between the Student Banking Account or Advantage Banking for Students.
4. Apply Online or In-Branch:
   • Online: Visit RBC Student Banking and follow the prompts.
   • In-Branch: Book an appointment with an RBC advisor for personalized help.
5. Fund Your Account: Transfer money from another account or deposit a cheque via the RBC Mobile app.
6. Activate Your Debit Card: Use it for purchases or withdraw cash at any RBC ATM.

Need Help? RBC is Here for You

If you have questions, our Student Banking Specialists are available 7 days a week via:

• Phone: 1-800-769-2555 (toll-free).
• Live Chat: Available in the RBC Mobile app.
• In-Branch: Walk into any RBC branch for face-to-face support.

Frequently Asked Questions About RBC Student Banking

Can I keep my RBC Student Account after graduation?

Yes! After graduation, your account automatically converts to an RBC Advantage Banking account with a low monthly fee ($10.95, waived if you maintain a minimum balance).

What happens if I drop out of school?

Your account will transition to a standard RBC chequing account, and standard fees may apply. Contact RBC to discuss your options.

Can I link my RBC Student Account to my parent’s account?

Yes! You can set up parental access to monitor transactions or transfer funds securely.

Are there limits on international transactions?

No! RBC offers unlimited international debit purchases with no foreign transaction fees.

How do I earn RBC Rewards points?

Use your RBC Student Account debit card for purchases and earn points redeemable for travel, gift cards, and more. Points can also be earned with an RBC credit card.

What Students Are Saying About RBC

"RBC’s Student Account saved me over $200 in fees last year. The mobile app is super easy to use, and I love the discounts on Spotify and Amazon!"

"I used to stress about overdrafts, but RBC’s overdraft protection kept me covered. Plus, the travel insurance was a lifesaver during my semester abroad in Europe."

"Opening an account was seamless, and the advisor explained all my options clearly. Now I’m saving for a car and building credit with my RBC Visa* card."

Ready to Open Your RBC Student Bank Account?

Join over 1 million students who trust RBC for their banking needs. Whether you’re paying tuition, splitting rent, or saving for the future, we’ve got you covered.

*Trademarks of Royal Bank of Canada. Used under license. Visa* is a registered trademark of Visa International Service Association and used under license.