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Change Account Type

Step 2 of 3: Important Agreements

 
Current Account: Savings -
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Account Disclosures and Agreements (the "Terms and Conditions")

 
Important NoticeImportant Notice

If this is a joint account you agree on behalf of all other account holders to the switch of this account, in addition to the terms and conditions set out in the Disclosures and Agreements Booklet. You also agree to inform each account holder of the switch and to remit copies of this booklet to each of them.

If this account is already enrolled in the Value Program™, all of your program benefits and preferences will automatically apply to your new account type.

You understand and agree that once you have agreed to the switch, we will not be able to reverse your account switch request and you will have to apply for a new account.

 

Please review the following Terms and Conditions. You must read them, type "Yes" in the box and select "I Agree" to confirm you agree with them before proceeding with the account switch.

Please take this opportunity to print or save (by using "save as" on your web browser) the Terms and Conditions for future reference as they will not be available once you complete your account switch.

PART A: GENERAL

I. Definitions
In these Terms and Conditions:

"Message Centre" means our online communication centre located in Online Banking and where encrypted communications may be transmitted between you and us;

"Online Banking" means our online banking service;

"You" and "Your" means the individual who is requesting the account switch; and

"we", "us" and "our" mean Royal Bank of Canada if your account is with Royal Bank of Canada, Royal Bank Mortgage Corporation if your account is with Royal Bank Mortgage Corporation, Royal Trust Corporation of Canada, if your account is with Royal Trust Corporation of Canada or The Royal Trust Company if your account is with The Royal Trust Company.

II. Changes to the Terms and Conditions

We may change the Terms and Conditions, other than those terms required by law, by providing you with written or electronic notice, including by providing you with notice (i) in your electronic Statement (as defined below), (ii) in the Message Centre or elsewhere in Online Banking, or (iii) sent to the email address you last provided via Online Banking or to your mailing address last appearing on our records. If you access Online Banking after the effective date of the change, it will mean that you have agreed and consented to the change.

III. Language

You and we have expressly requested that this agreement and all related documents, including notices, be drawn up in the English language. Vous et nous avons expressément demandé que ce contrat et tout document y afférent, y compris tout avis, soient rédigés en langue anglaise. (Quebec only / Québec seulement).

PART B: TERMS FOR PERSONAL DEPOSIT ACCOUNT SWITCH

I. Consent to Electronic Availability of Account Disclosures (the "Consent")

To complete the account switch process, we must provide, and you must review and consent to the terms and conditions pertaining to this account type, as described in the Account Disclosures (defined below). As you have chosen to switch the account online, we will provide you with the Account Disclosures in electronic form provided that you consent to receive them in electronic form.

  1. Definitions

    In this Consent:

    "Account Disclosures" means the terms and conditions pertaining to your personal deposit account provided in the link below to the Disclosures and Agreements Booklet and any applicable Interest Rate, both the subject of this Consent.

  2. Consent and Electronic Process

    1. You consent to us making your electronic Account Disclosures available for you to review in Online Banking.
    2. In addition, your electronic Account Disclosures can be accessed in Online Banking under the "Legal" link at the bottom of the page.
    3. We will provide you with notice of the availability and location of your electronic Account Disclosures by sending a message to your Online Banking Message Centre. If you do not delete this message, we will automatically delete it after 90 days from the date the message first appears in the Message Centre.
  3. Availability. If you want to retain copies of your electronic Account Disclosures, you can print or save a copy of them now or access them in Online Banking as described in 2(b) above. You can also visit your local branch to obtain a paper version of the Account Disclosures.

II. Agreement to the Terms and Conditions in Your Account Disclosures

By submitting this request to switch your account type, you consent to the terms and conditions pertaining to this account type as described in the Disclosures and Agreements Booklet (provided in a link below), including any interest rate (also provided in a link below) that apply to this account. Once the account switch process has been completed, you will receive a message in your Message Centre confirming that your account has been successfully switched and providing you with a link to the Account Disclosures.

Disclosures and Agreements Booklet (opens new window)

A detailed booklet outlining all agreements and disclosures pertaining to the operation of your account, including your client agreement as well as the service fees and operating conditions of your new account.

View Interest Rates for this account (opens new window)

III. Consent to Receive Electronic Delivery of Statements and Notifications for your Personal Deposit Account

As you have chosen to switch your account online, we will provide you with Statements and Notifications (as defined below) in electronic form provided that you consent to receive them in electronic form.

  1. Consent to Receive Electronic Delivery of Statements and Notifications. You consent to receive the following in electronic form in Online Banking:
    1. Monthly account statements related to your personal deposit account ("Statements"); and
    2. Notices that we are required by law to send you in writing including changes to the account agreement, increases in fees and the introduction of new fees applicable to your personal deposit account ("Notifications"). If you are converted to or you switch to a new account type, Notifications includes the account disclosures, agreements and any interest rate applicable to the new account type.
  2. Electronic Delivery Process. You acknowledge that:
    1. Through links in Online Banking and links in messages to the Message Centre, you can access any electronic Statements that are currently in your archive of Statements.
    2. Important information about your personal deposit account and certain Notifications may appear on the Statements themselves. All other Notifications will be sent through the Message Centre or through links in messages to the Message Centre.
    3. Your consent to electronic Statements and Notifications takes effect immediately although depending on your Statement date, you may receive one more paper Statement and/or Notification in the mail.
    4. We will notify you when new electronic Statements and certain electronic Notifications are available by sending messages to the Message Centre or through links in messages to the Message Centre.
    5. In addition to the notification in section 2(d) above, you may select to have an email sent to the personal email account you specify in Online Banking, advising you that an electronic Statement is available. If you have requested email notification, you acknowledge and agree that email is not secure or reliable, and may not be received by you in a timely manner or at all.
  3. Document Options. For all personal deposit accounts, other than the RBC High Interest eSavings® account and the RBC U.S. High Interest eSavings® account, you (the sole owner of a personal deposit account or any co-owner of a joint personal deposit account) can change the preference from electronic to paper Statements and Notifications for the account at any time by contacting any RBC Royal Bank Branch or by calling 1-800-Royal 11. This change can also be made by clicking on the View and Manage Documents link in Online Banking.
  4. Contact Information. You will advise us of any changes to your contact information that you have provided in connection with Online Banking.
  5. Availability. During the time that this account has been designated to receive electronic Statements, your electronic Statements will be available for up to 7 years as long as your account remains open and you continue to be enrolled in Online Banking. The electronic Notifications will be available in the Message Centre for up to 90 days from the date we first notify you in the Message Centre, unless deleted by you. It is your responsibility to retain a copy of each document by printing or saving a copy while it is available to view in Online Banking. We can provide you with a paper copy of any Statement that you have received electronically at our standard fee, if applicable.
  6. Technical Requirements. All electronic Statements and some electronic Notifications are presented as PDF files and require you to have Adobe‡ Reader‡ software installed on your computer. We do not own or operate, and are not responsible for, Adobe Reader software.
  7. Review your Electronic Statement. You are required to review your electronic Statement. If you think there is an error, you must contact us within 45 days from the date of your electronic Statement or we will consider our records to be correct.
  8. Provision of Paper. We may provide you with paper Statements and Notifications if we deem it appropriate or if we are unable to provide you with them electronically.

If you prefer you can also visit your local RBC Royal Bank Branch or call 1-800-769-2555 to switch an account.