RBC Direct Investing Account Types

　　RBC Direct Investing offers a variety of account types to suit different investment needs, including:

• Registered Accounts:
• Tax-Free Savings Account (TFSA): Allows tax-free growth on investments and tax-free withdrawals.
• Registered Retirement Savings Plan (RRSP): Provides tax advantages for retirement savings; contributions are tax-deductible.
• Registered Education Savings Plan (RESP): Helps save for a childs post-secondary education with tax-deferred growth and access to government grants.
• Registered Retirement Income Fund (RRIF): Converts RRSP savings into income during retirement.
• First Home Savings Account (FHSA): Designed for first-time home buyers, allowing tax-free contributions and withdrawals for home purchases.
• Non-Registered Accounts:
• Cash Account: Flexible, highly liquid account for easy access to funds; income is taxable.
• Margin Account: Allows borrowing against the value of investments, offering increased buying power but with associated risks.
• Non-Personal Accounts:
• Tailored for corporations, partnerships, and other entities to manage investments.

　　For detailed information about each account type, visit RBC Direct Investing Account Types.

　　

RBC Direct Investing Broker Account Opening Process

　　Opening an account with RBC Direct Investing is a straightforward process. Heres how to do it:

• 　　Eligibility: Ensure you meet the eligibility criteria, including being at least 13 years old (14 in Quebec) and residing in Canada.

• 　　Choose Account Type: Decide which account type suits your needs (e.g., TFSA, RRSP, Cash Account).

• 　　Application Process:

• Online: Existing RBC clients can log in and complete the application in about 10 minutes. New clients can apply online by verifying their identity through the Interac® verification service.
• In-Person: Visit an RBC Royal Bank branch or investor center to open an account.
• Phone: Contact RBC Direct Investing to inquire about opening an account.

• 　　Required Documents: Prepare necessary identification documents, such as a government-issued photo ID and proof of address.

• 　　Fund Your Account: After your account is opened, you can add funds through transfers from other financial institutions or deposits.

　　For more details, visit Open an Account - RBC Direct Investing.