RBC New Account Promotions For 2022: Free iPad Offer

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Whether you’re looking to open your first new bank account or switch to another bank, RBC has some competitive new account promotions.

RBC is currently the largest bank in Canada by market capitalization. It is also one of the best Canadian banks due to its unique banking products and services. 

As a new RBC bank account owner, you will enjoy competitive welcome offers when you sign-up to an eligible account during the promotion period. 

So what are the RBC new account promotions? How do you qualify for these promotions? What is the value of the promotions?  What are the alternatives to RBC’s new account promotions?

Keep reading to find answers to all these questions and other frequently asked questions.  


RBC New Account Promotions – The RBC iPad Offer 2021-2022

The RBC iPad offer of 2021 which was extended to 2022, is currently one of the high-value promotions in Canada.

For a limited time, if you open a qualified RBC bank account, you can get the latest 10.2” iPad Wi-Fi 64GB (9th Generation) in either Space Grey or Silver Colour. That is more than $400 in value.

The iPad 9th Generation model was unveiled in September 2021 and it is more than $400 in value. Below are some o the specifications of the RBC free iPad offer: 

  • Silver/Space Grey colours
  • 10.2-inch
  • Retina display
  • 64GB
  • Wi-Fi
  • 8MP Wide camera
  • 20W USB-C Power Adapter
  • Stereo speakers
  • Dual microphones

All you have to do is open an eligible RBC account to qualify for this competitive promo. Since the promo is only available for a limited time, you need to act fast before the expiry date. 

RBC iPad promotion offer for new accounts

How to Get RBC New Account Promotions

To get the RBC New account promotions, you have to open a qualified RBC bank account (RBC Signature No Limit Banking account or RBC VIP Banking account) by September 30, 2022.

After opening the new account, you must meet two of the three requirements by January 6, 2023:

  • Set up a direct deposit for your paycheck
  • Complete at least two pre-authorized payments per month
  • Make at least two eligible bill payments

After completing the necessary requirements, you will receive an email from RBC containing instructions on how you can get your iPad.


RBC Signature No Limit Banking

RBC Signature No Limit Banking is the perfect account for anyone who wants to save money and have access to unlimited transactions. 

The account has a monthly fee of $15.95 but if you join the Value Program and complete specific tasks, you will only be charged a monthly fee of $9.95 or $4. 

Features of RBC Signature No Limit Banking

The following are the features of the RBC Signature No Limit Banking account:

  • Annual fee rebate of up to $39 on qualified credit cards
  • Make 3 free ATM transactions at non-RBC ATMs. After that, pay $2 per transaction
  • There is no minimum balance requirement
  • Make up to 5 cross-border debit transactions for free. After that, pay $1 per transaction
  • Unlimited free debits transactions within Canada
  • Make Interac and e-Transfer transactions at no cost
  • Join the Value Program and pay a monthly fee of $9.95 or $4
  • Register for the Value Program and pay the senior’s monthly fee of $11.95

RBC VIP Banking

RBC VIP Banking is a cost-effective, all-in-one banking solution designed to make banking easier. 

The account has a monthly fee of $30.00 but if you join the Value Program and complete certain tasks, you may only be charged a monthly fee of $24 or $18.05. 

This makes RBC VIP Banking one of the most affordable and comprehensive banking packages available on the market today.

Whether you’re looking for ways to save on your everyday banking or want to take advantage of exclusive RBC promotions, RBC VIP Banking might be the right choice for you.

Features of RBC VIP Banking 

Here are the features of the RBC VIP Banking:

  • Get free unlimited worldwide debit transactions
  • Use ATMs worldwide at no cost
  • Make free Interac e-Transfers
  • Get an annual fee rebate of up to $120 on a qualified credit card
  • There is no minimum balance required
  • Fees eliminated for RBC Direct Investing maintenance 
  • Add 1 USD account and up to 2 Canadian accounts
  • Monthly fees for seniors are reduced to $22.50 or less when you enroll in the Value Program
  • The monthly fee reduced to $24 or $18.05 with Value Program

RBC Signature No Limit Banking vs RBC VIP Banking

RBC Signature No Limit Banking and RBC VIP Banking are both great choices for those looking for a new bank account with promotional offers. 

So, which one is a better choice for you? Let’s compare the two RBC accounts so that you can choose the account that best suits your needs.

FeaturesRBC Signature No Limit BankingRBC VIP Banking
Monthly Fees$15.95$30.00
ATM FeesYou get 3 free non-RBC ATM withdrawals per month. After that, you will have to pay a fee of $2 per month.You can use any ATM worldwide without paying any fees
Number of Free Debit TransactionsYou only get unlimited free debit transactions within CanadaUnlimited worldwide free debit transactions
Minimum BalanceNoneNone
Extra Benefits5 free foreign debit transactions, eligible credit cards get a rebate on annual fees that is up to $39
Eligible credit cards get an annual fee rebate of up to $120, maintenance fees waived for RBC Direct Investing, you can add 1 USD account and up to 2 Canadian accounts

If you’ll rather go with an account with no monthly fees, check the best no-fee bank accounts in Canada here.


RBC Vantage

RBC Vantage is the perfect way to make the most of your banking experience. It is a rewards program that offers savings, rewards, and more on qualified RBC bank accounts.

With RBC Vantage, you can enjoy exclusive savings on everyday purchases, including groceries, gas, and more. 

Plus, as an RBC Vantage member, you’ll have access to exclusive insights to help you manage your finances and reach your financial goals. 

Whether you’re looking for ways to save money or earn rewards, RBC Vantage has something for everyone. 

Features of RBC Vantage

  • Earn rewards for your everyday purchases
  • You may save up to $11.95 on monthly fees with no minimum balance requirement
  • Use your RBC card at Petro-Canada and save up to 3¢/L on gas
  • Get customized insights on your spending with NOMI

RBC Value Program

The RBC Value Program is another fantastic way to get more benefits out of your banking experience.

If you register any of your qualified RBC bank accounts in the Value Program and complete specific tasks, you’ll get rewards points that you can use to save on monthly fees.

With the Rewards points, you can enjoy discounts on groceries, merchandise, and more. And with the savings on monthly fees, you can keep more of your hard-earned money in your pocket. 

Whether you’re looking to save on your monthly expenses or earn rewards for your everyday spending, the Value Program is a great way to get more from your RBC bank account.

Benefits of the RBC Value Program

  • Earn RBC Rewards points: If you make purchases in-store or online with your eligible account or credit card, you will earn redeemable rewards points.
  • Save on monthly fees: When you register your eligible account with the Value Program and complete specific tasks, your monthly fees may be waived partially or completely
  • No minimum balance needed: There is no minimum balance required to earn rewards with the Value Program

A wide variety of products are included in the Value Program. The following RBC products can help you get rewards points quickly and save on monthly fees with your eligible bank account: 

  • Personal Credit Cards
  • Residential Mortgages
  • Personal Investments
  • Small Business Accounts

Additional RBC New Account Offers

There are other promotions that are offered by RBC bank that you need to be aware of. Below are some of the additional RBC new account offers in 2022.

RBC Newcomer Advantage

The RBC Newcomer Advantage can help you get started on the right foot. With this program, you can get exclusive offers on products and services that will help you save on fees as you start your savings.

New RBC account holders can take advantage of special offers from credit card offers to cash bonuses, to help them make the most of their money. 

Whether you’re just starting or have been saving for a while, the RBC Newcomer Advantage can help you save on your everyday expenses.

Benefits of the RBC Newcomer Advantage

  • New RBC credit cards offer a credit limit of up to $15,000
  • You can bank with RBC for a whole year without paying monthly fees if you open an eligible bank account
  • If you open an eligible RBC bank account and meet the eligibility requirements, you will get a welcome bonus of up to $100
  • For a year, you will make 2 free monthly international money transfers
  • You will get a small safe box for 2 years at no cost

Related: Best Bank Accounts for Newcomers to Canada

RBC High-Interest eSavings Account Offer

Looking to boost your savings? RBC is currently offering a high-interest rate on their High-Interest eSavings account. 

If you open an RBC High-Interest eSavings account on September 13, 2022, by 3 pm EST, you will enjoy a special interest rate of 3.00% for 3 months.

This limited-time offer is a great way to help you reach your savings goals. Plus, there are no monthly fees and minimum balance required to earn the high-interest rate, so you can start saving right away.

Features of RBC High-Interest eSavings account

  • Easy access to your money: You can instantly access your money from your RBC High-Interest eSavings account any time you wish.
  • No monthly fees: The RBC High-Interest eSavings account doesn’t charge monthly fees. 
  • Safety: Your funds in the RBC High-Interest eSavings account are covered by CDIC, so you don’t have to worry about the safety of your money.
  • No Minimum Balance Required: There is no minimum balance required to earn the limited high-interest rate on this account.
  • Save More: With this account, you earn daily interest that is paid monthly. As a result, your savings grow every day.

RBC Student Bank Account Offer

If you’re a student looking for a bank account that can help you save money on your next concert ticket purchase, the RBC student bank account offer may be worth considering. 

If you open a new student RBC Advantage Banking account on June 30, 2022, and meet the requirements by August 25, 2022, you’ll receive a $75 Concert Cash code for your next eligible ticket. 

Not only do you get a $75 Concert Cash code towards your next eligible ticket purchase, but you also get access to a number of exclusive perks and privileges. 

This offer can help you save money on your next concert, making it a great option for students.

Features of the RBC Student Account Offer

  • If you are a full-time student, you won’t be required to pay monthly fees
  • You can make Interac e-Transfer at no cost
  • If you use a different bank’s ATM in Canada, you won’t pay any fees
  • You can make free debit transactions with no limits
  • The app is designed to help students manage their funds easily
  • If you make debit purchases using your RBC account, you will earn reward points

RBC Switch Your Mortgage Offer

Making the switch to RBC Mortgage could be one of the best decisions you make for your finances. 

RBC is currently offering to cover the switching fees for eligible mortgages, up to $1,100 if you move your mortgage to the bank from February 15th, 2022 to June 30th, 2022.

Not only will you enjoy competitive rates and personalized service, but you can also take advantage of the bank’s special offer of getting a bonus of $2,000 in cash.

This means that if you switch your mortgage to RBC within the promo period, you could save yourself a significant amount of money. 

Check here for the best mortgage promotions in Canada.


Other New Bank Account Promotions in Canada

If you’re looking for the best alternative to RBC new account offer, the following are some of the options to consider.

FeaturesSimplii Financial New Account PromotionsCIBC New PromotionsScotiabank New Account Promotions
Account TypeSavings and chequing accountsChequing accountChequing accounts
Promotions$350+ bonusUp to $400 bonus + monthly fee waiver for three monthsUp to $300 bonus
EligibilityOpen a new account and set up a monthly $100 or more direct deposit for 3 consecutive monthsOpen your first  CIBC Smart Account and set up (within your initial two months) one eligible direct deposit for up to 1 year to earn a $350 bonus. You will earn a $50 bonus when you make 2 online bill payments or 2 Visa debits.Sign-up for a new Scotiabank Ultimate Package or Preferred Package by September 30, 2022, and execute a minimum of two eligible transactions

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FAQs on RBC New Account Promotions

Is RBC still giving away iPads?

Yes. To get the iPad reward, your qualified RBC bank account must be in good shape and be left open. Also, the eligibility requirements you completed must remain valid after February 28, 2023.

Does RBC waive monthly fees?

Yes. If you open a qualifying RBC bank account and register for the Value Program, your monthly fees may be partially or completely waived.

Is RBC VIP banking worth it?

RBC VIP Banking might be an excellent choice for you if you’re looking for a chequing bank account with several unique features.
Despite its $30 per month fee, the account offers a lot of perks and benefits to cover up for the high fees.

What is RBC offering?

RBC offering is a unique program that rewards RBC individual and business customers with cash discounts and additional RBC rewards points when they use an approved debit or credit card.

What kind of iPad is RBC giving away?

RBC is offering the latest 10.2” iPad Wi-Fi 64GB (9th Generation) for free to eligible clients. 


Final Thoughts on RBC New Account Promotions

If you’re looking for a new bank account and want to take advantage of some great promotional offers, RBC is worth considering. 

We’ve outlined all the details you need to know about their current promotions in this article, so be sure to read through them before making your decision. 

If you already bank using an account with monthly fees and the ones at RBC meet your needs, then the free iPad promo is a great bonus.

If you’re looking for more information on banking and other financial products and services, be sure to check out our other blog posts. We have tons of great content waiting for you.

And don’t forget to let us know what you think about RBC’s new account promotions in the comments below!

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RBC Promotions
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Summary

RBC rewards new customers with several competitive welcome bonuses and offers.

Simon is a CPA by day and a Personal Finance Blogger by night. With over a decade experience in financial services, he's passionate about personal finance, investing and helping people take control of their financial life.

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