RBC Direct Investing Account Types

　　RBC Direct Investing offers various account types to cater to different investment needs. Here are the primary account types available:

• Registered Accounts:
• Tax-Free Savings Account (TFSA): Allows tax-free growth on investments and tax-free withdrawals.
• Registered Retirement Savings Plan (RRSP): Provides tax benefits for retirement savings with tax-deferred growth.
• Registered Retirement Income Fund (RRIF): Converts RRSP to an income-generating account upon retirement.
• Registered Education Savings Plan (RESP): Designed for saving for a child's post-secondary education, with tax-deferred growth.
• First Home Savings Account (FHSA): Aimed at first-time home buyers, allowing tax-free contributions and withdrawals for qualifying home purchases.
• Non-Registered Accounts:
• Cash Account: Offers flexibility and easy access to funds, but income earned is taxable.
• Margin Account: Allows borrowing against the value of investments for increased buying power.
• Non-Personal Accounts: Tailored for businesses, non-profits, and trusts, offering features specific to organizational needs.

　　

RBC Direct Investing Broker Account Opening Process

　　Opening an account with RBC Direct Investing is straightforward. Follow these steps:

• Eligibility Requirements:
• Must be a Canadian resident.
• Must have a valid Social Insurance Number (SIN).
• Must be over the age of majority in your province or territory.
• Choose Account Type:
• Decide which type of account you wish to open (e.g., TFSA, RRSP, Margin Account).
• Application Process:
• Online Application: If you are an RBC client, sign in to your online banking profile to expedite the application. If not, visit the RBC Direct Investing website to start the process.
• Verify your identity through the Interac® verification service.
• Fund Your Account:
• You can transfer funds from another bank or brokerage, or deposit cash directly into your new account.
• Confirmation:
• After submitting your application, you will receive an email confirmation of your account status.
• Start Investing:
• Once your account is open and funded, you can begin trading and managing your investments through the RBC Direct Investing platform.

　　For more detailed information, visit RBC Direct Investing.