Another Free Student Banking Account: Royal Bank of Canada

In addition to my previous guide on Best Bank Accounts for Canadian Students, RBC Royal Bank Student Banking is now on the list. They make the website a bit hard to find on their site, which was a bit of a downer.

Quick Comparison on RBC Student Banking, and the TD&BMO alternatives

The RBC one is nothing special really, but it might still be the best for you. The usual no monthly fees and 25 monthly debits.

I like the TD Canada Trust Student account because they pretty much automaticaly give you a free 0.5% Cash Back Credit card on the spot, and the Bank of Montreal one gives you one free EMT Internac Email Money Transfer per month. TD also gave me 4 counter cheques in case I needed them. 

Credit Cards for Students

The Visa Classic Student II card that RBC offers isn't that bad if you're okay with points cards, though I dislike them. It works out to about $25 in stuff to redeem when you spend $3000, or about 0.833%. OK, but you have to wait until you accumulate enough points until you can use them, I'd rather get a credit every January. Also, keep in mind that they're _waiving_ the annual fee while you're a student, so you might have to cancel the card, or better yet, downgrade to a free one (to maintain your credit history). 


On the topic of credit cards, the CitiMastercard Enrich 1% CashBack card is the best no-hassle reward card, but may be a bit difficult for students to get, they're a bit stingy on who they let get one, the application process took a while. 

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