Does Mydoh create an RBC bank account for my child or connect to their existing RBC account?
Great question! We would be happy to clear this up for you. Creating a Mydoh account for your child, does not open them a new RBC Youth or Student Bank Account.
Even though Mydoh is powered by RBC, a Mydoh account is not the same as an RBC account and you currently cannot link the two. They are completely independent of one another.
With that being said, you can always open an RBC youth or student bank account for your child if you would like! You can utilize our goals feature to empower your child to save up towards a specific goal they have in mind, and transfer those funds over to their RBC accounts once it’s been sent back to your parent account.
If your child already has or you are planning to open an RBC Youth or Student banking account, please note that there is currently no way to sync or connect the two. The only way to load funds into a child’s Mydoh account is from the Mydoh parent account.
– How is Mydoh associated with Royal Bank of Canada (RBC)?