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Royal Bank of Canada
Fall 2023 Cash Offer - Terms & Conditions

Attention Group Advantage Clients: If you are employed by a company that has entered into an RBC Group Advantage agreement with us and has an active RBC Group Advantage plan (including Group Savings, Group Banking and Mortgage Assistance Program), then these terms and conditions do not apply to you. To see the terms and conditions that apply to Group Advantage clients, please visit rbc.com/groupterms;

Definitions

“Bonus Amount” means the amount credited to your Eligible Personal Banking Account, if you have fulfilled all Qualifying Criteria and conditions for the Promotional Offer, as follows:

  • If you open an RBC Signature No Limit Banking® account: $350; or
  • If you open an RBC VIP Banking® Banking® account: $350

“Eligible Personal Banking Account” means any of the following accounts: RBC Signature No Limit Banking (monthly fee of $16.95); or RBC VIP Banking (monthly fee of $30.00);

“Eligible Personal Client” means a client who:

  • Does not have an existing Personal Banking Account with us; and
  • Never had a Personal Banking Account nor qualified for any of our offers related to opening a Personal Banking Account at any time during the Promotional Period or in the five-year period before the start of the Promotional Period; and
  • Is also a resident of Canada and of the age of majority in the province or territory in which they reside as of the date an Eligible Personal Banking Account is opened to qualify for this Promotional Offer. Residence is determined by the jurisdiction (province or territory) where a client has their primary tax filing obligation based on their regular place of residence;

“Open Account By Date” means the date of January 3, 2024 by which you are required to open an Eligible Personal Banking Account in order to qualify for the Promotional Offer;

“Personal Banking Account” means any of the following accounts: RBC Day to Day Banking, RBC No Limit Banking®, RBC Student Banking®, RBC Leo’s Young Savers Account®, RateLink Preference®, RateLink Essential®, RateLink Essential - Sixty Plus®, Sixty Plus - Signature Plus®, Sixty Plus - Royal Money Maker®, Sixty Plus - Calculator Plus®, RBC VIP Banking®; RBC Signature No Limit Banking, RBC No Limit Banking for Students, RBC Advantage Banking account;

“Primary Owner” means the person we designate as the primary owner of a joint Personal Banking Account;

“Promotional Offer” means the offer as defined in Section 1 below;

“Promotional Period” means the period starting on November 1, 2023 and ending at 9:00 PM Eastern Time on the Open Account By Date of January 3, 2024.

“Qualifying Criteria” means the conditions set out in Section 2 below.

“Qualify By Date” means the date of March 13, 2024 at 9:00 PM Eastern Time by which you are required to complete the Qualifying Criteria in order to qualify for the Promotional Offer;

“RBC Employees” mean all our employees and pensioners;

“Terms” mean these terms and conditions that govern this Promotional Offer;

“you” and “your” mean the Eligible Personal Client, selected by us, to whom we extend the Promotional Offer by any means in our sole discretion;

“we”, “us”, “our” and “Royal Bank” mean Royal Bank of Canada or any of its deposit taking subsidiaries.

1. The Promotional Offer

Provided you fulfill the conditions set out in Sections 2 and 3 below, you may earn the following:

The applicable Bonus Amount (determined based on the type of Eligible Personal Banking Account you open to qualify) deposited to your Eligible Personal Banking Account

(hereinafter, the “Promotional Offer”)

2. How to qualify for the Promotional Offer:

To qualify for this Promotional Offer you must:

  • be an Eligible Personal Client; and
  • open an Eligible Personal Banking Account during the Promotional Period; and
  • complete at least two of the following by the Qualify By Date (i.e., 9:00 PM Eastern Time on March 13, 2024):
    • Transfer or set up the full amount of your automated and recurring payroll direct deposit or monthly recurring pension direct deposit to your new Eligible Personal Banking Account. To qualify, you may not split your payroll deposit from one employer or pension deposit from one provider between the Eligible Personal Banking Account and any other account. We reserve the right to determine what is considered payroll and pension, and whether the payroll or pension deposit, as applicable, has been split. The first payroll or pension deposit must be credited to your new Eligible Personal Banking Account by 9:00 PM Eastern Time on the Qualify By Date.
    • Set up at least two (2) Pre-Authorized Monthly Payments (“PAPs”), such as a pre-authorized bill payment to a service provider (e.g., utility bill, gym membership) or pre-authorized payment to an RBC mortgage, loan, Royal Credit Line, or contribution to your RBC investment account, from your new Eligible Personal Banking Account. The first payment of all such Pre-Authorized Payments must be debited and must clear from your new Eligible Personal Banking Account by 9:00 PM Eastern Time on the Qualify By Date.
    • Set up at least two (2) bill payments to a service provider (e.g., utility bill, cable, etc.) in Online Banking, and/or in Mobile Banking from your new Eligible Personal Banking Account. All such bill payments must be debited and must clear from your new Eligible Personal Banking Account by 9:00 PM Eastern Time on the Qualify By Date.

3. Conditions that apply to the Promotional Offer

The following conditions also apply to this Promotional Offer:

  • The Promotional Offer is available to Eligible Personal Clients only.
  • RBC Employees are not eligible to participate in the Promotional Offer. However, if an RBC Employee is a co-owner on a jointly held Eligible Personal Banking Account, the Promotional Offer may still be earned, provided the remaining conditions are fulfilled by the another co-owner if they are an Eligible Personal Client;
  • Only one Promotional Offer and corresponding Bonus Amount is available per Eligible Personal Client, no matter how many Eligible Personal Banking Accounts you may open during the Promotional Period;
  • Only one Promotion offer and corresponding Bonus Amount is available per Eligible Personal Banking Account, even if the Eligible Personal Banking Account is opened jointly and the Qualifying Criteria are fulfilled by more than one co-owner. In this case, only the co-owner designated as the Primary Owner at the time of opening of the joint Eligible Personal Banking Account will qualify to receive the Bonus Amount.
  • If an Eligible Personal Client, qualifies for the Promotional Offer and fulfills the Qualifying Criteria and conditions, the Bonus Amount will be credited directly to their Eligible Personal Banking Account between 6 and 10 weeks of completing the Qualifying Criteria (refer to section 2 for full details of Qualifying Criteria).
  • The Promotional Offer is available to residents of Canada only; residence is determined by the jurisdiction (province or territory) where a client has their primary tax filing obligation based on their regular place of residence.
  • Your Eligible Personal Banking Account must remain open and in good standing, and the Qualifying Criteria you performed to get the Bonus Amount for the Signature No Limit Banking account, RBC VIP Banking Account, or RBC Advantage Banking Account (such as payroll/pension deposit or pre-authorized payment) must remain in effect for at least 365 days from the Qualify By Date.
  • If you received the Bonus Amount and then downgraded, changed or closed your Eligible Personal Banking Account or removed or otherwise undid any of the Qualifying Criteria you performed to qualify for the Promotional offer and to receive the Bonus Amount (e.g., cancelled any payroll/pension deposit or pre-authorized payment), at any time prior to 365 days from the Qualify By Date, we reserve the right to debit your Eligible Personal Banking Account or any of your accounts with us for the Bonus Amount, even if this places your Eligible Personal Banking Account or any other account into overdraft. If your Eligible Personal Banking Account is closed and you do not have any other account with us at that time, we reserve the right to send you an invoice in the amount of the Bonus Amount that was paid to you, which you agree to pay within 30 days of its postmark date.
  • You have until March 28, 2024 to notify us if you believe you have qualified for the Promotional Offer and completed the Qualifying Criteria, but have not received your Bonus Amount. Any notice received after this date will not be accepted and you will be deemed not to have qualified for this Promotional Offer.
  • If you are not satisfied with your Eligible Personal Banking Account and switch to another account, our Right Account GuaranteeTM may apply, provided you satisfy its underlying terms and conditions. If you benefit from the Right Account Guarantee, we still reserve the right to reverse the Bonus Amount credited to your Eligible Personal Banking Account, as more fully described in sub-section h. above. For the terms and conditions of the Right Account Guarantee, visit http:www.rbcroyalbank.com/products/deposits/right-account-guarantee.html

4. Additional Conditions that apply to all Promotional Offers

  • The Promotional Offer and these Terms do not, in any way, affect any of the service fees or other fees related to the operation of any of our Personal Banking Accounts, credit card accounts or business banking accounts, which continue to apply.
  • The Promotional Offer shall not be combined with any other of our Personal Banking Accounts offers or promotions, except as may be permitted in accordance with the terms and conditions of offers or promotions by RBC that are applicable to Newcomers (which term shall have the meaning given to it under the terms and conditions of the applicable offer). For more information, visit https://www.rbc.com/newcomers/what-we-offer.html
  • We reserve the right to change the Promotional Offer and these Terms at any time. The posting of the current Terms at www.rbc.com/offerterms350 shall be deemed sufficient notice to you of such Terms and any changes, if required.

5. Limitations that apply to all Promotional Offers

  • We reserve the right to cancel the Promotional Offer at any time and for any reason, at our sole and complete discretion without notice.
  • In the event of a conflict between these Terms and the content of any document, brochure or promotional material advertising the Promotional Offer, these Terms shall prevail. You may always view the most current Terms by visiting www.rbc.com/offerterms350 or you may call 1-800-769-2511 to request a current copy.
  • We reserve the right, in our sole discretion, to suspend, disqualify, limit or revoke this Promotional Offer for any person or account holder we determine or believe to be manipulating or otherwise abusing the process, fairness, integrity or operation of the Promotional Offer, including any person whose overall client relationship with us is, in our sole opinion, not in good standing.

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