RBC’s new account offers may be of interest if you are looking to open a new chequing account.
While the free iPad offer is no longer available, new clients can qualify for a new Apple Watch Series 9 welcome bonus when they open an eligible bank account. In the past, they have also offered AirPods, cash bonuses and more.
RBC is not the only one enticing new customers. There are several other new bank account promotions in Canada you can take advantage of.
RBC Apple Watch Series 9 Bonus Offer
You can qualify for a free new Apple Watch Series 9 when you open an RBC Signature No Limit Banking or RBC VIP Banking account by April 1, 2024, and complete two of three tasks by July 9, 2024:
- Add your full payroll as a direct deposit (a split paycheque won’t be eligible) or monthly recurring pension direct deposit
- Set up two pre-authorized payments
- Add two bill payments to a service provider
RBC will email you up to 10 business days after meeting the eligibility requirements, with a secure link to visit an online store where you can select your iPad and confirm your shipping details.
Note that this offer is unavailable to existing RBC clients or those who have opened an account within the past five years.
Below is a summary of the RBC promotion:
RBC Account | Offer |
RBC Signature No Limit Banking | Apple Watch |
RBC VIP Banking | Apple Watch |
RBC Signature No Limit Banking Review
The RBC Signature No Limit Banking account is one of two premium chequing accounts offered by the bank.
For a $16.95 monthly fee, you get:
- Unlimited debit transactions (in Canada)
- Free Interac e-Transfer Transactions
- 3 free non-RBC ATM transactions/month ($2 each after)
- 5 free cross-border debits/month ($1 each after)
- 6 free drafts per year ($8.50 each after)
Customers with multiple RBC accounts (investments, mortgages, credit cards, etc.) may receive a partial rebate on the monthly fee.
RBC VIP Banking Review
This chequing account has a $30 monthly price tag and includes unlimited debit transactions worldwide, free Interac e-Transfers, and:
- Up to $120 annual fee rebate for an eligible credit card
- Up to a $60 rebate on a safe deposit box
- 12 free drafts/year ($8.50 each after)
- Free personalized cheques
- Overdraft protection fee waived (interest applies)
Partial fee rebates are available if you hold multiple RBC products
RBC Account | RBC Signature No Limit | RBC VIP Banking |
Monthly fee | $16.95 | $30 |
Minimum balance to waive monthly fee | N/A | N/A |
Number of free debits | Unlimited (Canada) | Unlimited (worldwide) |
Free Interac e-Transfers/month | 999 | 999 |
Credit card fee rebate | $39/year | $120/year |
Other perks | 3 free non-RBC ATM transactions/month; 5 free cross-border debits; save $12/year on safe deposit box, 6 free drafts; free paper statements | Can add up to 3 accounts and waive fees; save $60 on safe deposit box, 12 free drafts, free cheques, free paper statements, and cross-border debits |
Bonus offer | Apple Watch | Apple Watch |
RBC Savings Account Promotion
While RBC’s standard savings account interest rates are not very competitive, you could look at its promotional savings offers.
New RBC High Interest eSavings accounts earn a 5.5% interest for three months. To be eligible, you must open an account by April 10, 2024.
The regular interest rate offered by this account is 1.70%.
New Bank Account Promotions in Canada
These offers are worth checking out if you are opening a new bank account (chequing or savings).
Simplii Financial Offer ($400 Bonus)
Get a $400 bonus when you open a Simplii no-fee chequing account (offer available until February 29, 2024).
To qualify for the cash reward, you must add a direct deposit of at least $100 for three consecutive months.
The direct deposit payment can be your paycheck, government benefit, or pension.
Simplii also has a high-interest savings account offering a 6.00% interest rate.
Get more details about this offer by reading our full review.
Scotiabank New Account Offer ($350 Bonus)
Scotiabank is offering up to $350 when you open an eligible chequing account:
- Scotiabank Preferred Package ($16.95 monthly fee)
- Scotiabank Ultimate Package ($30.95 monthly fee)
To be eligible for this offer, you must open an account by February 29, 2024, and complete two of three tasks within 60 days;
- Make a $50 bill payment through online or mobile banking
- Set up two eligible recurring pre-authorized transactions of $50 or more for at least three consecutive months
- Set up at least one direct deposit payment that occurs for at least three consecutive months (e.g. payroll or pension payments)
EQ Bank Savings Offer
EQ Bank offers one of the best non-promotional savings interest rates in Canada. Its no-monthly-fee Savings Plus Account offers:
- Up to 4.00% interest on every dollar
- Unlimited free debits and Interac e-Transfers
- Free mobile cheque deposits
- No monthly fees
- Up to 5.00% interest on GICs
Learn more in our EQ Bank review.
BMO New Account Offer
Up to $350 cash bonus offer
Waive monthly fees by keeping minimum balance
A premium account with unlimited transactions
Includes credit card fee rebate & free identity theft protection
Related: CIBC Bank Account Promotions.