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Royal Bank of Canada
200 Bay Street
Toronto, Ontario
M5J 2J5
Transit 00002
Tel.: (416) 974-3940
Fax: (416) 974-8129
RBC Royal Bank
Welcome to Banking
in Canada
Non-Resident Accounts for Immigration, Work & Study Visas
Steven J. Harrison
~ 416-974-7375 Senior Account Manager ~ steven.harrison@rbc.com
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Royal Bank of Canada
200 Bay Street
Toronto, Ontario
M5J 2J5
Transit 00002
Tel.: (416) 974-3940
Fax: (416) 974-8129
Opening a Non Resident Account With Royal Bank in Canada
The following are the essential requirements for opening a non-resident account, which each account applicant must
complete:
Complete “Non-Resident Application” form (#10814), and sign second page.
The following items must be certified true by the Canadian Embassy or Consulate or Royal Bank unit:
Signature Card, with name and original signature;
Copies of international passport (pages that contain personal information, photo and signature);
Copies of one additional piece of identification (with English or French translation if necessary), i.e.:
driver’s license, credit card, birth certificate, etc.
A copy of some correspondence received from the Canadian Embassy which states your immigration file
number and the city where the file is being processed from. Any joint account request can only be with another
person who is immigrating under the same file number.
‘Verification of Identity’ form (included) must be completed by individual who is certifying your documents.
A signed cover letter from you advising type of account/s required and any other relevant information that might
assist the bank in ascertaining your banking needs. If no letter is included or no account is specified, an ‘RBC
Day to Day Saving’ account will be opened (in Canadian funds). (please see page 4 for additional requirements for
any US account requests.)
Bank reference letter from your bank. (Stating banking history) – Although this is not necessary to open the
account, it does assist in future applications for any credit you may wish to apply for once you are a landed
resident. Also, by allowing us to update your finances, it helps us assessing your future financial needs.
* Accounts are to be held as ‘deposit only’ until the account is activated in person upon arrival, and proper identification
is presented. No withdrawals/debits are permitted from the account until that time.
*Ensure all required items are completed. If everything is not completed, it will result in a delay in opening the account.
* Faxed or e-mailed copies are not acceptable. Original signatures are required.
* Requests for any banking instructions (ie. close accounts, address change, etc.) will only be accepted by original
signed letter.
* Upon receipt of fully completed original documents, account will be opened within five business days. The account
will be opened with a $0.00 balance and you will be notified of your account information.
* If you require information to be given to a third party (such as immigration consultant or lawyer) through telephone,
fax or email, please include an original signed letter giving authorization to do so, detailing all information. Do not
put third party information on the ‘Account Application’ sheet. Also, please ensure that you do not put a P.O. Box
# in the address section, only your current home address. If you want mail to be sent to a different mailing address,
please indicate this information in your cover letter.
* Once account is opened, funds should be remitted only by wire transfer. Any personal cheques or third party deposits
will be held for sufficient time for clearing (see page 6).
Things to consider when opening an account for immigration purposes:
Send funds only when the Canadian Embassy asks it of you or if you will not be needing access to it until you arrive
in Canada, as no transactions can be performed from the account until that time.
If you are sending funds, and will not need access to them for at least a couple of months, consider getting a
redeemable investment product, generally paying higher interest rates. Ask us for details.
When funds are remitted to the account you should notify us so that we may send a notification letter to the
Canadian Embassy if you require this.
Thank you for choosing Royal Bank. We appreciate your business.
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Royal Bank of Canada
200 Bay Street
Toronto, Ontario
M5J 2J5
Transit 00002
Tel.: (416) 974-3940
Fax: (416) 974-8129
Please send documents to the branch of your choice:
* Any Royal Bank Branch can provide you the service of opening your non
resident account for immigration purposes. For more information on locations
and addresses you may contact us at one of the phone or fax numbers below or
please visit our website at www.royalbank.com/rbcatlas/index.html
The following is a list of the Main Branches across Canada which can also service your needs:
Toronto Montreal Vancouver
Royal Bank of Canada Royal Bank of Canada Personal Accounts Dept.
Immigration Accounts Main Branch Royal Bank of Canada
Main Branch, Royal Bank Plaza 1 Place Ville Marie Main Branch, Royal Centre
200 Bay Street P.O. Box 6007 1025 Georgia Street
Toronto. Ontario Montreal, Quebec Vancouver. B.C. V6E 3N9
M5J 2J5 H3C 3B5 Tel: (604) 665-6991
Tel: (416) 974-3940 Tel: (514) 874-7222 Fax: (604) 665-0315
Fax: (416) 974-8129 Fax: (514) 874-8246
*For immigrating clients, it is recommended that you have the account opened at a branch that will be
closest to where you will be living. Please consult the address link listed above or contact a Royal
Bank representative.
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Royal Bank of Canada
200 Bay Street
Toronto, Ontario
M5J 2J5
Transit 00002
Tel.: (416) 974-3940
Fax: (416) 974-8129
ROYAL BANK OF CANADA (RBC) DEPOSIT ACCOUNTS
I.) RBC Day to Day Savings Account (Canadian Dollar (CAD)):
Fees:
Debits From Account $1.00 each
Deposit Interest Paid (Tiered, Calculated daily, paid monthly):
If Balance is: $5,000.00 and over 0.400% *
$3,000.00 to $4,999.99 0.250% *
$1,000.00 to $2,999.99 0.100%
$ 0.00 to $ 999.99 0.100%
* on the applicabel portion of your balance
II.) RBC Enhanced Savings Account (CAD):
Fees:
Debits From Account $1.00 each
Deposit Interest Paid (Tiered, Calculated daily, paid monthly):
If Balance is: $250,000.00 and over 1.500% *
$150,000.00 to $249,999.99 1.500% *
$100,000.00 to $149,999.99 1.500% *
$60,000.00 to $99,999.99 1.000% *
$25,000.00 to $59,999.99 0.500%
$10,000.00 to $24,999.99 0.400%
$ 5,000.00 to $ 9,999.99 0.200%
$ 0.00 to $ 4,999.99 0.000%
*On the applicable portion of your balance.
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Royal Bank of Canada
200 Bay Street
Toronto, Ontario
M5J 2J5
Transit 00002
Tel.: (416) 974-3940
Fax: (416) 974-8129
II.) U.S. Personal Account (USD):
Fees:
Monthly Fee $2.00
Debits From Account $0.75 each
Deposit Interest Paid:
If Balance is: All Balances 0.00%
*Please Note: If you wish to open a US funds account, you must also supply proof of your current residence in addition
to the other identification stated on page 1. This can include a certified copy of your driver’s license, or utility bill ---
something with your address on it (including translation if not in English or French).
In addition, other information must be provided in a cover letter concerning US account and transactions:
- the name and address of your current bank;
- anticipated amount of US funds being transferred to account;
- and, as always, please complete the application form in completely, including current employment.
*** Unfortunately we are unable to open US funds accounts, nor accept US currency payments for citizens of Cuba.
We apologize for any inconvenience in this matter.
Please expect at least an extra week for account to be opened due to approval process for US accounts.
NOTES: Interest Rate Subject to change.
Rates shown are based on a per annum basis.
Monthly statement provided. We do not offer hold mail service.
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Royal Bank of Canada
200 Bay Street
Toronto, Ontario
M5J 2J5
Transit 00002
Tel.: (416) 974-3940
Fax: (416) 974-8129
CLIENT CARD / ATM CARD
A Client Card (or ATM card) cannot be activated with a PIN (Personal Identification Number) until you have landed in
Canada and can show proof of address. This could be in the form of a phone bill with your name and address, or lease
agreement. If you are staying with friends or relative, a representative of the household must come with proof of
address and verify that you are living with them.
ON-LINE BANKING
On-Line Banking is RBC Royal Bank’s convenient service which allows clients the saftey and comfort of doing many
bank related transactions and services from the comfort of their home or office. However, until you have landed and
activated your non-resident account in person, this service is not available. Instead, you may contact the Account
Manager who opened your account for any balance updates, statement requests or other inquiries you may have.
SCHEDULE OF FEES
BANK SERVICES / OTHER SERVICES
Duplicate Statements $ 5.00 each
Bank Drafts $ 6.50 each
Processing Incoming Wire Transfers $15.00
Inactive/Dormant Accounts:
After 2 years $20.00
After 5 years $20.00
After 9 years (no notice sent) $40.00
Handling fee for Account Closure
Within 6 months of opening $15.00
Courier Cost $30.00
*Please note that all uncertified cheques will be subject to a hold upon deposit: 5 business days for
Canadian items and 25 business days for U.S. items.
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