What You Need to Know to Prepare for the Transition

Yes. We understand this is one of the most important features of our cross-border solution and you’ll be able to transfer funds online just as you do today.

No. RBC remains committed to the U.S. market and this transaction allows us to focus our U.S. efforts on growing our two largest U.S. businesses, RBC Wealth Management and RBC Capital Markets, while also continuing to serve our valued Canadian clients with U.S. banking needs through a new banking platform.

Cross-Border personal banking clients will not transition to PNC as a result of this transaction. RBC Royal Bank intends to maintain U.S. Cross-Border personal banking operations and serve the banking needs of its clients across the U.S. As part of this plan, RBC is working to continue to offer Canadian clients cross-border banking in the U.S. and looking for opportunities to expand features and services in our new banking operation. For now, there is no change or impact to clients’ banking services or accounts. In February 2012, your accounts will transition to the new banking platform we are building to service our cross-border banking clients. You will receive information in the coming months regarding this transition.

Cross-border clients will transition to the new U.S. banking operation in mid-February 2012, subject to customary closing conditions. We will be communicating with Cross-border clients between now and February 2012 to explain the transition process and how you can continue to bank with us in the future.

We will continue to offer RBC Access USA^® products, the option of preferred foreign exchange rates and credit/debit card services. Cross-Border personal banking clients will continue to have seamless access to funds and banking products in addition to automated teller machine (ATM) access, U.S. dollar accounts and integrated online banking.

We recommend current Cross-Border personal banking clients contact us to ensure we have the correct contact information on file so you will receive important account transition materials. Clients should respond to the letter you received in mid-September or call 1-800 ROYAL^® 5-3 (1-800-769-2553).

You can call our Canadian/U.S. contact center at 1-800 ROYAL 5-3 (1-800-769-2553) where our staff can assist you with any questions or issues. Please also feel free to talk with your local banker in Canada or the U.S.

In November, we’ll be mailing you a brochure with answers to many of the questions you might have about our new banking operations.

In January, you’ll receive information on the full product suite and capabilities for the new U.S. banking operation, as well as details on how accounts will transition.

Between January 23 and February 17, 2012, we will send out new checks, credit cards, debit cards and PIN mailers. More information on these specific dates will be included in the January mailing.

We will retain “RBC Bank” as our trade name and logo for the new cross-border banking operation. The legal entity for this business is called RBC Bank (Georgia), N.A.

Yes, the current RBC Bank branches will become PNC branches in early March, subject to customary closing conditions. Please don’t worry, though. You’ll continue to have ATM access, an Online Banking platform integrated with online money transfers to your Canadian accounts and online Bill Pay. Our dedicated Canadian/U.S. contact center will be available anytime you need us and want to speak with us. Not only that, but we will have office locations in select markets for Private Banking clients to come in and meet with bankers or Wealth Management officers.

You will receive more information about our new banking operations in January along with the details of your account transition.

Yes. Your current account numbers will change as your accounts are transitioned in mid-February. New checks and debit and credit cards reflecting your new account numbers will be sent out. More detailed information on this will be provided in the January time frame along with instructions for card activation and usage.

Credit card clients will continue to have a rewards program after the transition and you will receive information in the January mailing on the details of this program. The debit card rewards program is being discontinued. We are working on a special communication to explain the changes. Please look for this mailing in early December.

Your RBC Bank Visa Debit Card will be able to use any ATM network to access your accounts to get cash. All clients will receive a number of ATM service charge refunds each month upon request. Look for specific details in the product information mailing in January 2012.

There is no need to close or reopen accounts. As part of the transition activities, cross-border U.S. accounts will automatically be moved to RBC’s new U.S. banking platform. As we move through the transition period, we will notify clients of new account information as well as details on the migration process. By maintaining your current accounts, you will continue to have access to your current services, and will not need to go through the time-consuming process of re-opening accounts as part of the new Cross-Border platform.

• You will receive postal mail from us between now February 2012.
• You may receive emails or Online Banking messages and reminders.
• You can visit our web site at rbcbank.com/transition.
• We understand the importance of open and frequent communication, and we will keep clients well informed as we move through this process. Our goal is to make this transition as seemless as possible for our clients.
• We will work to ensure clients receive information, and that they continue to have full access to accounts and services.
• Relationship managers will be excellent sources of information and will keep clients up to date on developments.

Absolutely. The legal entity that will serve as the new cross-border bank is already a nationally chartered bank located in the state of Georgia. RBC Bank (Georgia), N.A. is a member of the FDIC, which guarantees the safety of deposits up to applicable limits.

In addition, Royal Bank of Canada (“RBC”) remains the corporate parent of this new operation, and has among the highest credit ratings of financial institutions globally, supported by very strong risk management practices. Moody’s, a top credit-rating agency, gives RBC a Aa1 rating with a Stable Outlook. Standard & Poor’s gives RBC a AA- with a Positive Outlook, and Fitch and DBRS both give RBC a Stable Outlook with senior debt ratings of AA.