Answering your 8 biggest questions about mobile and online banking
There is something reassuring about being face-to-face with the person handling your banking. But the realities of COVID-19, and especially its impact on the most vulnerable members of society, have health officials advising everyone to stay home. Making trips to the bank is a risk not worth taking.
Luckily, Canadian banks have been helping people navigate the growing trend of mobile and online banking for a number of years now, with several initiatives including step-by-step guides and videos. “Now, with a focus on staying home,” says Megan Newman, Branch Manager at RBC, “we’re seeing lots of people who may be less familiar with technology using these guides as a way to get started with banking on a computer, smartphone or tablet.”
But if the idea of online banking feels intimidating, allow us to address some concerns you may have. We asked Megan Newman, an RBC Branch Manager who has helped many clients get set up with mobile and online banking, to help answer some of the most pressing questions many people have about banking from home.
Are mobile and online banking safe?
In short, yes, very safe. Banks in Canada are held to a very high standard when it comes to digital security and safety. Your accounts are password protected online, the same way they’re protected on the computers in a branch. And if you use a mobile banking app on a smartphone, many phones may require the use of a ngerprint before you can access your accounts, adding an additional layer of security.
Many banks also provide fraudulent purchase guarantees, like the RBC Digital Banking Security Guarantee1, which will refund any online or mobile transactions their clients didn’t make. “We want our clients to feel safe, knowing that they are protected against online transactions they didn’t make or approve, assuming they have taken care to ensure the security of their transactions.”
“What’s more,” says Newman, “RBC customers can sign up for the added security of receiving alerts on their phone or computer via email or text message whenever charges or payments are made from their account, so they’ll always know when a transaction has been made.”
Are mobile and online banking difficult?
As with any new skill, there is a slight learning curve. But, it gets easier and easier every time you do it. To help you get started, RBC has launched initiatives such as step-by-step guides for how to access various mobile and online banking features.
“Think of it like learning to cook a new dish,” says Newman, “you learn how to do it by following step-by-step instructions in a recipe. It gets easier every time you do it, and, in the end, you’re left with a new skill you can use long after this is over.”
What kind of equipment and information do I need to do banking on my computer or mobile phone?
For equipment, you need a computer, laptop, tablet or smartphone with access to the internet. And for setting up and logging into your account, you need your client card number, credit card number or account number.
Does it take a long time to get started?
Not at all. If you haven’t been active with technology, mobile and online banking may seem a stretch too far. But with tools, guides or help from a trusted family member or friend, most people can get set up in just a few minutes. Of course, you should always be careful to not share your password, PIN or account number with anyone.
Once set up, many computers and smartphones will automatically remember your client card number for you, so you’ll probably only need to type all the numbers in once, making it even faster for repeat visits.
“If you need help setting up your online account, you can call RBC’s Advice Centre number,” says Newman. “You can even schedule a call time online, so you don’t have to wait in the queue.”
Will it cost me more in fees to do online banking?
No! For most Canadian banks, RBC included, online banking is completely free.
Can I pay bills with mobile and online banking?
Yes. Setting up a bill payment is fairly straightforward. Again, step-by-step guides at many banks, or simply a trusted family member or friend can help set up this service. Then, once a bill payment is set up, you can schedule automatic payments from your account, so you don’t have to worry about missing a due date. Usually all you need is the account number that can be found on your bill.
How do I deposit cheques?
Most banks in Canada, including RBC, allow you to deposit cheques using their mobile banking app, on your smartphone or tablet. To do so, you simply take a picture of the cheque with your phone or tablet in the banking app, all from the safety of your home, with no need to come to a branch or even an ATM. Once deposited, the funds will show up in your account balance right away.
Can I still access my statements if I use mobile and online banking?
Of course. You can view your statements anytime on your phone or computer, and you can download them to your computer if you wish. RBC also stores up to 7 years of statements for you, all in one easy-toaccess spot.
If you have other questions, don’t be afraid to ask.
Hopefully this has helped answer some of your questions around mobile and online banking, showing you that it is, in fact, easier, more convenient and more secure than you may have previously imagined.
But if questions or uncertainty persist, don’t be afraid to ask for help. From the step-by-step learning tools and bank advisors mentioned above, to asking a trusted family member, friend or neighbour, there are a number of ways and places to help you nd the help and reassurance you need to make online banking work for you.
“Everyone plays a part in keeping Canada safe,” says Newman. “Online banking will play a big role in lessening the impact of COVID-19. Thankfully, most everyday transactions that you can do in a branch, you can do online. And, right now, online is the safest place to be.”
1. RBC will reimburse you for monetary losses to your Account(s) resulting directly from unauthorized transactions on your Account(s) using Digital Banking or To learn more, visit www.rbc.com/bankeasy Mobile Payments. For full details regarding the protections and limitations of the RBC Digital Banking Security Guarantee, including a definition of an unauthorized transaction and your responsibilities in ensuring the safety and security of your transactions, please see your Electronic Access Agreement for personal banking clients, and your Client Card Agreement for personal banking clients, and your Master Client Agreement and the Client Card Agreement for business clients.
“RBC Digital Banking Security Guarantee will fully reimburse clients for unauthorized transactions they didn’t make or approve through RBC online banking1.” Megan Newman, RBC Branch Manager