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Full Banking Services
RBC Royal Bank® provides
a comprehensive package of full banking services to colleges
and institutes across Canada. RBC is a market leader in service
to the public sector with significant relationships in every
segment of the industry. Our business relationship with this
sector goes beyond offering products. It includes understanding
and partnering with public sector businesses to help them
identify areas for growth and efficiency, and suggesting
practical, cost-effective ways to make the most of those
opportunities.
RBC takes pride in its understanding
of the business of Canada’s colleges and institutes.
We have special programs that make the transition to becoming
an RBC full banking services customer a seamless and efficient
process.
As an added feature of the RBC Royal
Bank and ACCC preferred package, RBC will waive the first
three months of current account activity fees, starting with
the first month of full banking activity, for any ACCC member
college or institute that becomes an RBC banking client.
RBC cash
management services
RBC’s accounts payable
solution
Streamline your accounts payable electronically.
Paying your suppliers electronically can increase your
efficiency and reduce your costs. RBC’s accounts
payable solution, A/P Link®, can lower accounts payable
costs an average of $2 to $4 per transaction by converting
cheque payments to electronic payables — a quick
payback on the investment required. Acting on instructions
received directly from your accounting system, A/P Link
electronically credits funds to suppliers’ and/or
employees’ accounts and
concurrently delivers the related payment details to the
recipient via e-mail or fax.
Features include the following:
- For any ACCC member, a 30% reduction in the standard
implementation fee of $6,900, a savings of $2,100; implementation
includes the software solution and the necessary training
for college and institute staff
- PC/Windows-based turnkey solution
- No requirements for your accounting system to be EDI
capable
Advantages of A/P Link include the following:
- ASCII file can be used as the basic input format
for all payment types
- A communications
package, an EDI translator, and message authentication
software incorporated into one solution through one provider/support
centre
- Integration of multiple application
- Reduced development
in source applications and reduced requirements for expertise
in EDI standards and data mapping
- RBC Financial Group EC
specialists that configure software to meet your specific
requirements
- Multi-level password access and function controls
- Encrypted
vendor database
RBC leasing program
A market leader in lease financing,
RBC finances all types of new and used equipment, from computer
equipment to aircraft, appliances and energy management equipment.
RBC
has a network of 30 experienced leasing specialists coast
to coast who will work with ACCC members to craft the lease
structure that best supports their financial goals. These
specialists will undertake lease versus buy analyses, explain
tax characteristics and, for more complex needs, will bring
in other team members such as KPMG.
RBC will underwrite leases
of $15,000 and up, for up to 100% of the eligible equipment
cost*. ACCC members who purchase equipment outright and decide
to finance it with RBC may also be eligible for sale/leaseback
transactions.*
ACCC members enjoy a preferred interest
rate under this leasing program. They may also choose from
fixed or floating-rate alternatives, which are pegged to
the Government of Canada Bond Rate, and will enjoy a discounted
administration fee of $100 per lease.
And RBC will make a
$500 donation to your scholarship/bursary fund to assist
students with education costs, for each lease of between
$200,000 and $1,000,000 booked under the program.
RBC
leasing program fact sheet
RBC Asset
Management
Short-term investments
Through the RBC
Banking and Alliance Partnership package for ACCC members,
all ACCC member colleges have access to a high-quality suite
of RBC short-term cash investment solutions and professional
investment advice from the RBC Asset Management team. A rigorous
investment risk control process, scale economies and seamless
integration with branch banking allows members to maximize
their investment returns, while minimizing the time spent
managing their investments.
The RBC institutional series
of mutual fund units provides safe, high-quality, high-yielding
cash investment options, as well as operational flexibility.
Member colleges with $5 million or greater can invest in
series I units of the RBC Canadian Money Market Fund, a highly
diversified, multi-billion-dollar investment pool that holds
a broad selection of Canadian money market securities. Or,
for members looking to exclude commercial paper, the series
I units of the RBC Canadian T-bill Fund, a highly diversified
billion-dollar investment pool, holds ultra-high-quality
Government of Canada and provincial treasury bills, as well
as short-term bankers acceptances.
The management fee on each of these
solutions is 15 basis points (bps) per annum, plus fund expenses.
Access
to the RBC cash management suite of products is easy. All
that is required is the opening of an RBC investment account
and a flow-through RBC bank account.
Financial management information and
tools for students
RBC recognizes the challenges that most
college and institute students face in managing their personal
finances while attending school, and after graduation.
Working
with an ACCC advisory group, RBC has designed a portal (available
summer of 2006) where students can access valuable information
and tools online about developing and managing a personal
budget, student credit instruments to assist in financing
their education, day-to-day banking services, managing debt,
and establishing and maintaining a good credit rating, and
other valuable information.
RBC
public sector banking team:
Ron
Arseneau Atlantic 902
421 7985
Celine
Meloche Quebec 514 874 3003
Kevin
Darling Ontario 613 564 2041
Don
Zealand Manitoba & Saskatchewan
306 262-7090
Vaughn
Lewis Alberta & Territories
403 292 2581
Doug
Pascoe British Columbia 604 501
6800
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