- 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.
SOURCE RBC