How to Open a Bank Account in Canada with RBC

Opening a bank account is one of those first steps that can make or break your arrival in Canada. Without one, it’s tough to get paid by an employer, set up rent payments, or even manage day-to-day expenses. Among the many choices available, the Royal Bank of Canada (RBC) consistently stands out. RBC isn’t just one of the country’s largest banks—it also has specialized programs for newcomers, students, and workers.

Still, if you’ve never gone through the process before, the details can feel a little overwhelming. Which account do you pick? What documents are required? How much will it actually cost you? RBC’s glossy brochures make it sound straightforward, but real life tends to introduce a few more wrinkles.

This guide breaks down everything you need to know about how to open a bank account in Canada with RBC. We’ll cover the paperwork, the different account options, how to avoid unnecessary fees, and even what pitfalls to watch out for after that first “free year” is over.

Why Choose RBC for Banking in Canada?

1. A massive branch and ATM network
RBC has thousands of ATMs and branches across Canada. For someone who may move cities—or doesn’t yet know where they’ll settle long term—that coverage is reassuring.

2. A long-standing reputation
Founded in the 1800s, RBC is part of Canada’s “Big Five” banks. Stability matters, especially when you’re just arriving and trying to make sense of a new financial system.

3. Specific programs for newcomers
RBC’s Newcomer Advantage package often includes no monthly fees for the first year, access to credit cards without Canadian credit history, and even perks like free safety deposit box rentals.

4. Tailored student banking
Students can open the RBC Student Banking Account, which comes with no monthly fees and is designed to work with limited budgets.

That said, reputation and reach don’t automatically mean “cheapest.” RBC accounts often carry higher fees than some online-only competitors. For many people, though, the peace of mind is worth the trade-off—at least at first.

Step 1: Gather Your Documents

To open a bank account with RBC, you’ll need to provide identification. RBC typically asks for:

A valid passport or Canadian government-issued photo ID (driver’s license, PR card)
Proof of status in Canada (study permit, work permit, immigration papers)
A secondary ID or document (credit card, Social Insurance Number letter, student card, etc.)

What if you don’t have everything yet?
RBC is one of the more flexible banks for newcomers who may not have a full set of Canadian documents. For example, a valid passport and study/work permit are often enough to get started.

You’ll also need a Canadian address. This doesn’t have to be permanent—you can use a temporary address such as a friend’s home or hotel. Just make sure it’s valid at the time of application.

Step 2: Choose the Right RBC Bank Account

This is where many people go wrong. RBC offers several chequing and savings accounts, but not every one is suited to your situation.

RBC Student Banking Account

Best for: International and local students
Monthly fee: $0
Transactions: 25 free debit transactions per month
Caution: Go over the transaction limit and you’ll pay small fees per extra debit.

RBC No Limit Banking Account

Best for: Newcomers who want unlimited everyday use
Monthly fee: $16.95 (often waived for the first year under the Newcomer Advantage package)
Perks: Unlimited Interac e-Transfers and debit transactions

RBC Day to Day Banking Account

Best for: Low-usage customers
Monthly fee: Around $4
Transactions: 12 free transactions per month

Tip: Don’t just accept the first account the teller suggests. A student freelancing online might outgrow the Student Account quickly, while someone who uses credit cards more than debit may not need unlimited chequing at all.

Step 3: Open Your RBC Account

You can open an account in two main ways:

In person at a branch – This is the most common choice, especially if you’re a newcomer who needs to hand over multiple documents. Booking an appointment in advance is smart since it cuts down on wait times.
Online – Some RBC accounts allow for online setup, though newcomers often need an in-person meeting to finalize ID verification.

During your appointment, you’ll:

Provide your documents
Sign forms
Choose your account and debit card
Set up online banking and the RBC mobile app

The process usually takes less than an hour. If you’re also applying for a credit card or additional services, budget extra time.

Step 4: Start Using Your Account

Opening the account is just the first step. To make it useful, you’ll need to:

Set up direct deposit with your employer or university funding
Get familiar with Interac e-Transfers, Canada’s most common way of sending money between individuals
Link your account to a credit card (if you’re starting to build credit history)
Watch out for ATM fees – RBC ATMs are free, but using another bank’s machine usually costs $2–3

Step 5: Consider a Credit Card

Credit history is crucial in Canada. Without it, renting an apartment, getting a loan, or even signing up for certain phone plans can be harder.

RBC makes this easier for newcomers by offering:

Secured credit cards – You put down a deposit (e.g., $500) that becomes your limit.
Newcomer credit cards – Some are unsecured, designed for those without Canadian credit history.

If you travel frequently, RBC also partners with airlines like WestJet for points-based cards. Just remember: points are only worth it if you pay off your balance in full each month.

Common Mistakes to Avoid

Forgetting the “free year” expires. Many RBC newcomer accounts waive fees for 12 months. After that, charges kick in—sometimes $16 or more per month. Set a reminder to reassess before the anniversary date.
Overcommitting. Some advisors may suggest opening a premium account, credit card, savings account, and line of credit all at once. Keep it simple until you know what you’ll actually use.
Assuming online banking solves everything. RBC’s app is good, but some services (like changing addresses or setting up joint accounts) still require in-person visits.

FAQs About Opening an RBC Bank Account in Canada

1. Can I open an RBC bank account online as a newcomer?
You can start the process online, but newcomers usually need to complete it in person for ID verification.

2. Do I need a Social Insurance Number (SIN) to open a bank account?
Not always. RBC often allows newcomers to open accounts without a SIN, but you’ll need it later for tax reporting if you earn interest.

3. How much money do I need to open an RBC account?
There’s usually no strict minimum deposit required, but it’s common to deposit $20–$50 to activate your account.

4. Does RBC have newcomer packages?
Yes. RBC’s Newcomer Advantage package typically includes a year of free banking, credit card options without Canadian credit history, and extra perks.

5. Can international students open a bank account at RBC?
Yes. With your passport, study permit, and proof of enrollment, you can open an RBC Student Account that carries no monthly fee.

Final Word

Opening a bank account in Canada with RBC isn’t as complicated as it might look at first glance. The bank is well-prepared to handle newcomers, students, and workers who may not have the full set of Canadian documents. The real trick is choosing the account that matches your lifestyle—not just the one offered first.

Yes, RBC may not be the cheapest option once the free period ends, but the convenience of a large branch network and flexible newcomer policies make it a safe and practical starting point. Over time, you might switch to a lower-fee online bank, but when you’re just settling in, RBC provides the kind of stability that can make life in a new country a little less stressful.