- RBC Rewards points can be used to pay online trade commissions
- Brings simplicity, convenience and added choice to online investors
TORONTO, Sept. 29, 2016 /CNW/ - Online investors now have a new way to pay their online trade commissions with RBC Direct Investing's innovative Trade with Points program – a Canadian first.
"Trade with Points gives investors another form of currency to use online, as they can now use their RBC Rewards points to pay their trade commissions for online stock, ETF and options trades placed on Canadian and U.S. exchanges," explained Rosalyn Kent, president and CEO, RBC Direct Investing. "Adding this option brings further simplicity, convenience and choice to our clients."
Trade with Points is just one of the industry-leading initiatives by RBC Direct Investing, which works to transform the online investing experience and serve the evolving needs of self-directed investors. Three other industry-shaping moves from RBC Direct Investing:
- Introduction of $9.95 flat commissions, making online investing more affordable for all investors, regardless of how much they wanted to invest or how often they wanted to trade. These flat $9.95 commissions are for online and mobile stock and exchange-traded fund (ETF) trades.
- Championing increased access to lower cost Series D mutual funds.
- Connecting like-minded online investors through its social Community platform – which includes the unique "Universe" page, where investors can compare the performance of their portfolio to the performance of other investors' portfolios. Community members can converse online with each other – without revealing their real identities – to discuss investment ideas and strategies and learn from each other in a secure online environment.
In addition, clients can now easily convert their RBC Rewards points online, into cash for deposits or contributions to eligible RBC Direct Investing personal accounts. Eligible accounts include RRSPs, TFSAs, RESPs (in CAD) and non-registered cash and margin accounts.
"We are focused on providing our clients with more choice and flexibility in how they can redeem their RBC Rewards points," added Athena Varmazis, vice-president, Global Loyalty Programs and Rewards, RBC. "We already make it possible for our clients to redeem points for travel, merchandise and gift cards as well as use their points towards paying their credit card balance. Trade with Points is a great addition to the choices we offer Rewards clients and an example of how RBC Rewards is redefining the loyalty experience."
About RBC Direct Investing
One of Canada's leading online brokerages, RBC Direct Investing is a wholly owned subsidiary of Royal Bank of Canada. RBC Direct Investing provides innovative tools and resources for investors who prefer to manage all or a portion of their investment portfolio. Clients have online access to their investments 24/7 and can choose from a broad range of investment products, including stocks, bonds, exchange-traded funds, GICs and thousands of mutual funds.
Our online innovations include: Trade with Points – where RBC Rewards points can be converted to pay online trade commissions; Practice Accounts – where investors can try out investing risk-free in our actual online investing site, with no real cash involved; and the Community – our online social site where members can connect with like-minded investors to learn from each other, without revealing their real identities. The Community platform includes our unique "Universe", where members can see each other's investments – as percentages rather than dollar amounts – and watch how they all progress toward their personal investing goals.
In addition, RBC Direct Investing offers access to Series D mutual funds, a series created and priced for self-directed investors, providing them with lower pricing for conducting their own research and making their own investment decisions.
For new as well as seasoned investors who wish to speak to someone directly, RBC Direct Investing has an award-winning team of investment services representatives available to respond to clients' account and trading inquiries. RBC Direct Investing is a Member of the Canadian Investor Protection Fund. For more information, please visit www.rbcdirectinvesting.com.
About RBC Rewards
As one of Canada's premier providers of loyalty programs, RBC has the rewards options that help clients get the most from their points. From using points to pay online trade commissions with Trade with Points, or to pay down their credit card balances with Payback with Points, to exciting merchandise, travel and gift cards redemptions, RBC Rewards clients have flexibility and choice in how they use their points. For more information, please visit www.rbcrewards.com.
For further information: Kathy Bevan, RBC Communications, 416-974-8820, [email protected]