RBC lets online investors pay trade commissions with reward points

RBC lets online investors pay trade commissions with reward points

The Royal Bank of Canada (RBC) has begun letting online investors pay their trade commissions with their credit card reward points.

The bank's direct investing customers can now use RBC Rewards to pay commissions for online stock, ETF and options trades placed on Canadian and US exchanges.

In addition, clients can convert their points online into cash for deposits or contributions to eligible RBC Direct Investing personal accounts.

Rosalyn Kent, president and CEO, RBC Direct Investing, says: "Adding this option brings further simplicity, convenience and choice to our clients."

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