RBC today announced that it has created a Welcome to Canada package focusing on the key financial decisions every newcomer faces in their first few months in Canada. The package includes introductory discounts on products and services to meet immediate banking needs while providing guidance and advice to achieve future financial goals.
"The RBC Welcome to Canada package helps newcomers start and build their financial life in Canada with confidence," said Mark Whitmell, director, Cultural Markets at RBC. "It includes introductory advice about Canadian banking products and services eliminating confusion about making the right financial choices."
According to RBC research, 41 per cent of newcomers open their first bank account within a couple of days of moving to Canada; 31 per cent sign up for a credit card within their first month; 38 per cent start an RESP savings plan for their children's education within their first year in Canada; 36 per cent take out a mortgage to buy a home between one to three years. RBC research also shows newcomers have more questions about Canadian products and services and value guidance that reflects their circumstances.
The new Welcome to Canada package developed for new immigrants who have been in Canada for less than three years, addresses these needs and includes:
Financial Advice
- Quick how-to guides for newcomers looking to making decisions on opening their first bank account in Canada, buying a car or their first home, setting up a savings plan for their children's education, investing for the future, and protecting their family with insurance. Available in 14 languages including Farsi, Punjabi, Tagalog, Russian, Spanish, Mandarin and Cantonese.
- A free copy of "Arrival Survival Canada: A Handbook for New Immigrants" by founders of Canadian Immigrant Magazine and newcomer advocates Nick and Sabrina Noorani. The handbook addresses the immediate needs facing immigrants moving to Canada, with tips and advice on everything from finding a job to financial services, providing a base of information for newcomers to build their new lives.
Products and Services
- Monthly fees waived up to 6 months with RBC Signature No Limit Banking account, including features such as: unlimited banking transactions, monthly refunds for 3 non-RBC ATM transactions, 2 free monthly email money transfers, a $50 annual travel certificate and more.
- Annual fee rebate for selected RBC Visa cards
- One-year free rental of standard safety deposit box
- Interest rate bonus on a non-redeemable GIC for one year
- Online and Telephone banking, including basic service in 150+ languages when calling 1-800 ROYAL 1-1 or dedicated service in Mandarin and Cantonese at 1-888 ROYAL 9-8. -- www.cnxmarketlink.com
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