Personal Finance Bank accounts

Your guide to RBC's non resident accounts in Canada

Piyush Singh

19.03.25

Read time 2 minutes

The Royal Bank of Canada, commonly called RBC, is one of Canada’s Big 5 banks, with a wide range of financial services offered to both Canadian residents and non-residents. As a visitor to Canada, you might wonder if opening an RBC account is a worthwhile option, and you’ve come to the right place. In this guide, we will explore RBC’s account options, fees, and requirements before offering an alternative option, Wise, a multi-currency account that may be beneficial for international banking needs. Let's go!

We will be looking at
Can visitors open an RBC bank account? RBC Bank Accounts for Non-Residents Additional Fee Information How to Open an RBC Bank Account as a Visitor Why Wise Is a Great Alternative for Visitors in Canada Wise vs. RBC – International Money Transfer Comparison

Can visitors open an RBC bank account?

Visitors can open an RBC bank account, but there are specific eligibility requirements and documentation needed..^1. To open a bank account, you must be 18 years or older and a current resident of Canada.¹ RBC must see original government-issued documents, like a passport, driver's license, or permanent residency, no photocopies, for identity verification.¹

RBC Bank Accounts for Non-Residents

RBC offers accounts for non-residents, including visitors. These accounts come with different features and benefits, depending on your financial needs.

Account Type	Monthly Fee	Features
RBC Advantage Chequing	$0 monthly fee for one year for newcomers. ²	No minimum balance² Earn Avion points on everyday purchases ² Free Interac e-Transfers² Save 3¢/L on gas at Petro-Canada² Get unlimited withdrawals at non-RBC ATMs across Canada.²
RBC Advantage for Student Checking	$0 monthly fee for full-time students.³	No minimum balance.³ Earn Avion points on everyday purchases.³ Free Interac e-Transfers.³ Save 3¢/L on gas at Petro-Canada.³
RBC Day to Day Savings account	$0	Earn interest on every dollar.⁴ Increased interest as your balance grows.⁴ Free access to RBC Online, Mobile, and Telephone Banking.⁴ Free account transfers 24/7 with no delay. ⁴

Additional Fee Information

RBC allows you to send funds to the U.S., Europe, India, China, and the Philippines, up to $50,000 per day with no transfer fees.⁵ Most transfers are completed within two business days. Actual foreign currency rates are not disclosed by RBC, which is something to note, as you may not see these corresponding fees until you do a transfer.

How to Open an RBC Bank Account as a Visitor

Opening an account with RBC is straightforward and can be completed online or through a combination of in-branch and online steps. To be eligible to open a bank account, you must be 18 years or older and live in Canada.¹ You can open an RBC account online, through the RBC Mobile App, or just visit your local branch. Make sure you have a valid passport, driver’s license, PR card/work permit, and SIN at hand.¹

To open an account online:

Call RBC at 1-888-404-5143¹ or
Book a virtual appointment with an advisor at your local branch on a date and time that works for you.¹
Attend your meeting and sign relevant documents. Don’t forget to bring your ID documents and SIN card with you.¹

To open an account in person:

Visit your local RBC with the relevant documents to open your account.¹

Why Wise Is a Great Alternative for Visitors in Canada

For visitors of Canada who are after a more flexible banking solution, Wise is a solid option. Accounts with Wise are multi-currency, so users can hold and transfer money in over 30 currencies with low fees and favorable exchange rates, starting as low as 0.48%.^* With a free card, this is a great option for visitors who need to send or receive money internationally at themid-market rate,avoiding the high fees typically associated with traditional banks.

Wise vs. RBC – International Money Transfer Comparison

The true cost of sending CAD to EUR

Final Thoughts on RBC Bank Accounts for Visitors

RBC has a range of account options for visitors to Canada, but be aware of the fees associated with transactions, ATM withdrawals, and international money transfers. For those looking for a flexible and cost-effective method to manage finances while in Canada, Wise is a terrific alternative, with low fees and strong exchange rates at a multi-currency rate. You can get started with a Wise account today!

Sources:

Sources verified on 19 March 2025

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.