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Royal Bank of Canada
2020 Back to School Bonus Offer - Terms & Conditions

“Bonus” means the amount credited to and/or waived in relation to your Eligible Personal Banking Account, if you have fulfilled all applicable Qualifying Criteria and conditions for the Promotional Offer (or components thereof, as relevant), as follows:

  • If you open an RBC Student Banking® Account: $60 credited to your Eligible Personal Banking Account; or
  • If you open an RBC No Limit Banking for Students® Account: $60 credited to your Eligible Personal Banking Account and the normal RBC No Limit Banking for Students’ monthly fee of $10.95 waived for the first twelve (12) months beginning in the month that you open your RBC No Limit Banking for Students Account; or
  • If you open an RBC Leo’s Young Savers Account®: $25 credited to your Eligible Personal Banking Account;

“Eligible Personal Banking Account” means any of the following accounts: an RBC Student Banking account (no monthly fee); an RBC No Limit Banking for Students account (normal monthly fee of $10.95, here waived for the first twelve (12) months beginning in the month that you open an RBC No Limit Banking for Students Account if you do so); or an RBC Leo’s Young Savers Account (no monthly fee);

“Eligible Student Client” means a client who:

  1. Resides in Canada;
  2. Does not have an existing Personal Banking Account with us;
  3. 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 three year period before the start of the Promotional Period; and
  4. Qualifies to open at least one type of Eligible Personal Banking Account.

“Open Account By Date” means the date of October 30, 2020, 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;

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

“Promotional Offer” means the offer as defined in section 1 of these Terms;

“Promotional Period” means the period starting on September 1, 2020 and ending at 9:00 PM Eastern Time on the Open Account By Date of October 30, 2020;

“Qualifying Criteria” means the conditions set out in section 2 of these Terms;

“Qualify By Date” means the date of December 31, 2020 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;

  • The Promotional Offer

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

    a) The Bonus, as defined above and as applicable based on the type of Eligible Personal Banking Account type that you open in order to qualify.

    (hereinafter, the “Promotional Offer”)

  • How to qualify for the Promotional Offer:

    To qualify for this Promotional Offer you must:

    • be an Eligible Student Client; and
    • open an Eligible Personal Banking Account during the Promotional Period; and
    • only if you open an RBC Student Banking account or RBC No Limit Banking for Students account, also complete at least two (2) of the following transactions using such account by 9:00 PM Eastern Time on the Qualify By Date in order to receive the $60 account credit component of the Promotional Offer:
      1. a minimum of one (1) mobile cheque deposit using the RBC Mobile app;
      2. a minimum of one (1) Interac e-Transfer; or
      3. any purchase transaction - including those done with RBC Virtual Visa Debit, Interac Flash, Apple Pay, Google Pay, Samsung Pay or with the RBC Wallet.

      The Qualifying Criteria noted in this paragraph 2.c. can be carried out, as relevant, within RBC Online Banking, the RBC Mobile app, and/or using your RBC Client Card. Transactions made in-branch or through the ATM network, and bank fee transactions, are not included as a qualifying transaction.

      *NOTE: For Eligible Student Clients who choose to open an RBC No Limit Banking for Student account, the qualifying transactions or purchases described in paragraph 2.c. above are NOT required in order to receive the monthly fee waiver component of the Promotional Offer applicable to that account type; meeting the Qualifying Criteria set out at paragraphs 2.a and 2.b by the required dates describe above will be sufficient to receive the monthly fee waiver component of the Promotional Offer, and, beginning in the month that the account is opened, the monthly fee waiver will be automatically applied to the Eligible Student Client’s RBC No Limit Banking For Students account for twelve (12) months (or such shorter period as that account may remain open).

      *NOTE: No qualifying transactions or purchases are required to receive the $25 Bonus if you open a RBC Leo's Young Savers Account.

  • Conditions that apply to the Promotional Offer

    The following conditions also apply to this Promotional Offer:

    • The Promotional Offer is available to Eligible Student 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 all conditions noted in these Terms are fulfilled by the other co-owner(s) of the jointly-held Eligible Personal Banking Account who is/are not RBC Employees;
    • Only one Promotional Offer is available per Eligible Student Client, no matter how many Eligible Personal Banking Accounts you may open during the Promotional Period;
    • Only one Promotional Offer is available per Eligible Personal Banking Account, even if the Eligible Personal Banking Account is opened jointly with another co-owner 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 jointly-held Eligible Personal Banking Account will qualify for the Promotional Offer.
    • An Eligible Student Client who qualifies for the Promotional Offer and fulfills the Qualifying Criteria and meets all other conditions of these Terms will receive the account credit and/or monthly fee waiver component(s) of the Promotional Offer as follows:

      The account credit component of the Promotional Offer will be credited directly to their Eligible Personal Banking Account within 8 weeks of completing the Qualifying Criteria (refer to section 2 for full details of Qualifying Criteria);

      For Eligible Student Clients who open an RBC No Limit Banking for Students account, the monthly fee waiver component of the Promotional Offer will be provided as an automatic waiver of the account’s standard monthly fee ($10.95) for each of the first twelve (12) months beginning in the month that you open an RBC No Limit Banking for Students Account if you do so.
    • We may, but in no event are we required to, follow up in a manner of our choosing with Eligible Student Clients who have opened an Eligible Personal Banking Account during the Promotional Period with a reminder to complete the Qualifying Criteria before the Qualify By Date.
    • Your Eligible Personal Banking Account must remain open and in good standing, and the Qualifying Criteria you met or performed to obtain the Promotional Offer must, as relevant, remain in effect and/or not be reversed for at least 365 days from the Qualify By Date.
    • If you received the Promotional Offer (or any component thereof, i.e., the account credit and/or monthly fee waiver, as applicable) and then downgraded, changed or closed your Eligible Personal Banking Account at any time prior to 365 days from the Qualify By Date (including but not limited to by virtue of no longer qualifying for an Eligible Personal Banking Account), we reserve the right to debit your Eligible Personal Banking Account or any of your accounts with us for the value of the account credit and/or monthly fee waiver amount(s) you received, even if this places your account(s) into overdraft. If your Eligible Personal Banking Account is closed and you do not have any other account with us at that time, we may send you an invoice for the equivalent dollar value of such amount(s), which amount you agree to pay to us within 30 days of receipt of said invoice.
    • You have until Feb 28, 2021 to notify us if you believe you have qualified for but not received your Promotional Offer. We may examine your transactions and other account activity in our records to determine whether or not you have qualified to receive the Promotional Offer. However, 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 Guarantee™ may apply, provided you satisfy the underlying conditions. If you benefit from the Right Account Guarantee, we still reserve the right to reverse the value of the Promotional Offer amount, as more fully described in subsection h above. For the terms and conditions of the Right Account Guarantee, visit http:www.rbcroyalbank.com/products/deposits/right-account-guarantee.html
  • Additional Conditions that apply to all Promotional Offers
    • Except as described herein, the Promotional Offer and these Terms do not, in any way, affect any of the standard service fees or other fees related to the operation of any of our Personal Banking Accounts, credit card accounts and business banking accounts, which continue to apply.
    • The Promotional Offer shall not be combined with any other offer or promotion related to our Personal Banking Accounts.
    • We reserve the right to change the Promotional Offer and these Terms at any time. The posting of the current Terms at rbc.com/fallterms60 shall be deemed sufficient notice to you of such Terms and any changes, if required.
  • Limitations that apply to all Promotional Offers
    • We reserve the right to cancel the Promotional Offer at any time for any reason at our 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 current Terms by visiting rbc.com/fallterms60 or you may call 1-800-769-2511 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 to any person or account holder we find 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 opinion not in good standing.

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