RBC creates banking package for newcomers to Canada

    Welcome to Canada Package provides financial advice and solutions

    TORONTO, Oct. 21 /CNW/ - 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

    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
    -   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.

    Information on the new RBC Welcome to Canada package and other financial
advice and solutions can be found at RBC's comprehensive web site for new
Canadians at www.rbc.com/canada or www.rbc.com/wtcpackage. Newcomers can also
locate branches with representatives who speak their language of choice by
visiting http://maps.rbc.com.

    These are the findings of an RBC /Ipsos Reid survey conducted between
March 15 and April 30, 2007. The poll was based on a randomly selected sample
of 1,000 new immigrants who are 18 years of age or older and have been in
Canada for 10 years or less. With this sample size, the overall results are
considered +/-3.1 percentage points, 19 time out of 20, of what they would
have been if all new immigrants had been surveyed. The survey was conducted by
telephone and the interviews were held in Mandarin, Cantonese, Hindi, Punjabi,
Korean, English and French. The findings were weighted to reflect the actual
regional distribution and ethnic composition of new Canadians immigrating to
Canada within the past 10 years.

For further information:

For further information: Linda Sadlowski, RBC, (416) 974-1754; Jackie
Braden, RBC, (416) 974-2124

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