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RBC Royal Bank chequing accounts

Compare the range of RBC Royal Bank chequing account options.

Please note: All information about RBC chequing accounts has been collected independently by Finder and chequing account products from RBC are not available through this site.

RBC is one of the largest financial institutions in Canada and with hundreds of locations scattered across Canada and tens of millions of customers worldwide, you’re never far from its services. Take a look at our in-depth guide to learn about all the different RBC Royal Bank chequing accounts available and the features and benefits of each.

With options for everyday banking, student and U.S. bank accounts, users of RBC chequing accounts are able to take advantage of a number of perks by signing up for one of these accounts.

Compare RBC chequing accounts

RBC Signature No Limit Banking Account

One of the more relieving things about any RBC chequing account is that you will never need a minimum balance in your account. However, you will have to pay an account fee of $15.95 per month for the RBC Signature No Limit Banking Account. You can save on the monthly fee Through RBC's Multi Product Rebate program, pair this account with 2 other eligible RBC accounts in the same geographic region and get cashback for some or all of your monthly fees (only pay $9.95/month for this account). Some of the benefits of this plan include unlimited debit transactions in Canada, a rebate on the annual fee of select RBC credit cards up to $39, 6 free bank drafts per year ($8.50 each afterwards), free personalized cheques and up to $12.00 per year off the cost of a safe deposit box.

RBC No Limit Banking

The RBC No Limit Banking also offers customers with a solid choice for frequent banking needs. It comes with a $10.95 fee per month attached to it that can be entirely waived if you also have a credit card, mortgage and personal investment with RBC. With this plan you’ll benefit from unlimited debit transactions in Canada and unlimited Interac e-Transfer transactions.

RBC Day to Day Banking Account

If you have very basic banking needs, you’ll get what you need from the RBC Day to Day Banking Account chequing account. With just a $4 fee per month, you’re getting great value if you don’t intend on using other features with this account. If you have a credit card and personal investment with RBC you can get the account fee waived. The main highlights of this plan include 12 debit transactions per month, $1.25 each thereafter as well as unlimited Interac e-Transfer transactions.

RBC Student Banking Account

If you’re a student and your banking needs are minimal, the RBC Student Banking Account could be a good fit. The account fee is $0 per month and you’ll also receive 25 free debit transactions per month.

RBC No Limit Banking for Students

If you’re a student that has frequent banking needs, you might want to look a step above the regular student account and go for the RBC No Limit Banking for Students. It does come with a $10.95 fee per month that can be completely waived if you possess a credit card and personal investments with RBC. Things like having unlimited debits and unlimited Interac e-Transfer transactions, plus a partial rebate on select credit cards, are just some of the perks you’ll get with this plan.

RBC U.S. Personal Account

For frequent travelers down to the U.S., rather than constantly exchanging your money back and forth, consider opening up a RBC U.S. Personal Account. Like the other RBC chequing accounts, there is a $0 minimum balance required with this account. There is a monthly fee of $2 but you’ll be able to make up to 6 free debit transactions per month.

RBC U.S. Bank Accounts for Canadians

If you’re a Canadian who may earn your income in the U.S., RBC has the option for you to open up an American chequing account. There are two account options under this plan, the Direct Checking and Premium Checking options, both with differing benefits. The benefit of opening a RBC U.S. Bank Accounts for Canadians is that you’ll have no wire transfer fees and the instant transfer of funds between your Canadian and U.S. RBC accounts.

The benefits of banking with RBC

Like most big banks, you can expect a high level of customer service with RBC and a number of benefits including:

  • RBC Internet and mobile banking. If you sign up for an RBC chequing account, you will have the opportunity to bank online using RBC’s Online Banking web portal. If you prefer banking on your mobile device, you can do just that using the RBC Mobile app.
  • RBC digital security guarantee. In using RBC’s online banking services, it guarantees full protection against any fraudulent transactions including ones you didn’t make or approve.
  • RBC Wallet app. Use this app to conveniently make purchases, send and request money, give a gift and keep track of your spending.
  • Right Account Guarantee™. If you open or upgrade to an eligible RBC chequing account and you’re not completely satisfied with it, RBC will refund your monthly fees for up to 3 months.
  • Free e-Transfer. With the exception of the U.S. chequing accounts, many accounts have unlimited and free Interac e-Transfer transactions.

How to open an RBC chequing account

Before you get started on your application, you should make sure that you meet the eligibility requirements for the specific chequing account that you are interested in. Furthermore, have the necessary documents on hand so that you can correctly fill out the application form. Eligibility requirements might vary between chequing account plans but generally include the following:

  • Age. In most cases, you need to be the age of majority in your province or territory of residence.
  • Residency. You need to verify that you live in Canada.
  • Identity verification. You need to confirm that you are opening this account for yourself and not on behalf of someone else.
  • Student proof. If you’re trying to open an RBC Student Banking or a No Limit Banking for Students Account, you’ll need to provide proof that you are a student but you’ll need to do so in person at an RBC branch.

    Information you will need for your application

    After checking that you are eligible for the chequing account you want, you will need to gather the following information in order to proceed with the application process:

    • Personal information. You’ll need to provide your personal information such as your address and your contact information. You’ll also need to verify your identity by providing an accepted form of identification, such as your driver’s licence number or passport.

    Compare other chequing accounts

    Name Product Interest Rate Account Fee Debit Transactions Interac e-Transfer Transactions
    Coast Capital Free Chequing, Free Debit, and More Account
    $1.50 each
    Customers in British Columbia can earn a $350 sign up bonus. Terms and conditions apply.
    Scotiabank Preferred Package
    $16.95 per month ($0 if requirements met)
    For a limited time, earn a $300 welcome bonus and up to 0.55% interest on your MomentumPLUS Savings Account. Valid until December 16, 2021
    Scotiabank Ultimate Package
    $30.95 per month ($0 if requirements met)
    Earn up to $350 in benefits and savings. Plus, for a limited time, earn up to 0.60% on your MomentumPLUS Savings Account. Valid until December 16, 2021
    Scotiabank Basic Plus Bank Account
    $11.95 per month ($0 if requirements met)
    25 free per month
    Pay no monthly account fee by maintaining a minimum daily closing balance of $3,000 for the entire month.
    Scotiabank Student Banking Advantage Plan
    Open an account and earn $60 plus a chance to win $30,000. Terms apply. Apply by October 31, 2021.
    Scotiabank Basic Bank Account
    $3.95 per month
    12 free per month
    With a low monthly account fee, you can choose between earning points toward the SCENE or Scotia Rewards reward programs.

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    Frequently asked questions about RBC chequing accounts

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