RBC Direct Investing Inc. RESP review

Supported grants and incentives

• Basic CESG: offered on the Canada.ca RESP promoters list.
• Additional CESG: offered on the Canada.ca RESP promoters list.
• Canada Learning Bond (CLB): offered on the Canada.ca RESP promoters list.
• B.C. Training and Education Savings Grant (BCTESG): offered on the Canada.ca RESP promoters list.
• RBC's current RESP materials also reference Quebec Education Savings Incentive (QESI) handling in RESP grant and withdrawal forms; Quebec residents should confirm current application handling directly with RBC because the Canada.ca promoter list does not track QESI.

Account types

• Individual RESP.
• Family RESP.
• RBC says either RESP type can be opened with a spouse or common-law partner as joint subscriber.

Fees

• $9.95 per online or mobile stock or ETF trade, or $6.95 per trade with 150 or more trades per quarter.
• $25 quarterly maintenance fee can apply when combined RBC Direct Investing assets are below $15,000, with waivers listed for conditions such as pre-authorized contributions, new-client period, or qualifying banking/client status.
• $135 transfer-out fee according to the RBC Direct Investing commissions and fees schedule.
• RESP withdrawal requests use RBC's dedicated withdrawal form; the posted fee schedule does not list a separate RESP withdrawal fee.
• Underlying ETF, mutual fund, fixed-income, and foreign-exchange costs can still apply depending on the investments used.

Transfer process

• RBC says transfer-ins can be completed when opening the account online or later through its secure online transfer form.
• RBC says assets can be transferred in cash or in kind, but registered accounts must be moved to like registered accounts.
• RBC says it does not charge a fee to transfer in an account.
• RBC says clients transferring $15,000 or more from outside RBC can request reimbursement of up to $200 in fees charged by the delivering institution if proof is provided within six months.
• The RBC transfer FAQ says transfer-in-cash requests may trigger selling commissions or fees at the delivering institution and cancel outstanding trade orders.

Withdrawal process

• RBC uses a Registered Education Savings Plan Withdrawal Request form for educational and non-educational withdrawals.
• RBC's withdrawal form requires proof of enrolment for Educational Assistance Payments (EAPs) and Post-Secondary Education withdrawals, and says a separate withdrawal form is needed for each beneficiary.
• RBC's withdrawal form states that EAPs cannot exceed $8,000 during the first 13 weeks of full-time study or $4,000 every 13 weeks for part-time study unless a higher amount is permitted under program rules.
• RBC says completed RESP forms can be forwarded by mail or in person at an Investor Centre or RBC Royal Bank branch.
• RBC's RESP plan text says subscribers can request refunds of contributions in writing and that payment is made within 30 days after the promoter receives the request, or sooner at the promoter's discretion.

Neutral comparison notes

• This is a self-directed brokerage RESP rather than an adviser-led or group-plan RESP.
• RBC publishes broad investment access and a formal fee schedule, but total cost still depends on trading activity, account size, and the investments chosen.
• Canada.ca confirms the core federal grants plus BCTESG for this promoter; provincial support beyond that should be checked directly with RBC using current forms and plan documents.
• RBC's public pricing pages summarize fees in more than one way, so the detailed commissions and fees schedule is the more precise source for maintenance and transfer charges.

Investment options noted on official pages

• Stocks.
• ETFs.
• Mutual funds.
• GICs.
• Bonds.
• Options.
• RBC's RESP education pages also note that RESP accounts are single-currency accounts.

Sources to use