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Compare RBC chequing account options

From fee-free transactions to perks for VIP spenders, find out what RBC chequing accounts have to offer.

RBC Royal Bank is one of the largest banks in Canada, serving millions of clients across the country. Looking to open an RBC chequing account for everyday banking? Here’s what you need to know about the range of RBC chequing accounts, including their fees, features and how to apply.

Compare RBC chequing accounts

RBC Signature No Limit Banking Account

One of the key features of any RBC chequing account is that you will never need a minimum balance in your account. However, with the RBC Signature No Limit Banking Account, you’ll have to pay an account fee of $16.95 per month for the RBC Signature No Limit Banking Account. Through RBC's Multi Rebate program, pair this account with other eligible RBC accounts and save up to $11.95 per month. Only pay $10.95/month for this account with 2 other eligible RBC products.. Some of the benefits of this plan include unlimited debit transactions in Canada, and rebate on the annual fee of select RBC credit cards up to $48.

The RBC Signature No Limit Banking Account also comes with the following welcome offer: Get the new Apple Watch Series 9 when you switch to RBC & open an RBC Signature No Limit Banking Account. Valid until June 3, 2024.

RBC Signature No Limit Banking Account

Get Apple Watch Series 9
Bonus Offer
$16.95
Monthly Account Fee
unlimited
Free Transactions
The RBC Signature No Limit Banking Account is one of RBC's most popular chequing accounts. It comes with unlimited transactions and a host of other perks for a monthly fee. Notable benefits include free bank drafts, personalized cheques, rebates on basic credit card fees (up to $39) and no monthly overdraft fees. You'll also get free Interac e-Transfers and reimbursements for non-RBC ATM fees, up to a monthly limit.
  • Unlimited debit transactions
  • Non-RBC ATM rebates
  • Free Interac e-Transfers
  • Credit card fee waivers
  • Earn RBC Avion points
  • Overdraft protection
  • Monthly fee
  • Caps on certain perks
Min. Age N/A
Account Fee $16.95
ATM Out-of-Network Fee $2

RBC VIP Banking Account

The RBC VIP Banking Account costs $30 per month but comes with special benefits like a rebate on the annual fee of select BMO credit cards up to $120, waived RBC Direct Investing fees, free overdraft protection, free cross-border debit transactions, free RBC VIP Style personalized cheques and up to 2 additional Canadian dollar accounts and 1 U.S. dollar account. Also enjoy unlimited free debit transactions, $0 free Interac e-Transfers, up to $60 a year off the regular fee for safety deposit boxes and 12 free bank drafts per year included with this account.

The RBC VIP Banking Account also comes with the following welcome offer: Get the new Apple Watch Series 9 when you switch to RBC & open an RBC VIP Banking Account. Valid until June 3, 2024.

RBC VIP Banking Account

Get Apple Watch Series 9
Bonus Offer
$30
Monthly Account Fee
unlimited
Free Transactions
The RBC VIP Banking Account is an all-inclusive chequing account that lets you make unlimited transactions worldwide and ATM withdrawals—and allows you to earn valuable Avion points with every debit card purchase. It also includes additional perks such as free bank drafts, complimentary personal and certified cheques, a fee waiver for an RBC premium credit card and use of a safety deposit box.
  • Earn Avion points with debit card purchases
  • Save up to $120 per year when you sign up for a premium RBC credit card
  • Unlimited debit transactions worldwide
  • Free Interac e-Transfers
  • Earn Avion points
  • Special rebates
  • Overdraft protection
  • Free use of a safety deposit box
  • Free bank drafts
  • Welcome offer
  • Monthly fee
  • Caps on certain perks
Min. Age 18
Account Fee $30
ATM Out-of-Network Fee $0

RBC Day to Day Banking Account

RBC Day to Day Banking Account

N/A
Bonus Offer
$4
Monthly Account Fee
12/month
Free Transactions
If you have very basic banking needs, you'll get what you need from the RBC Day to Day Banking 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 two other eligible products with RBC (such as a credit card and personal investment account) or you're a senior or RDSP beneficiary, you can get the account fee waived. The main highlights of this plan include 12 free transactions per month ($1.25 each thereafter) as well as unlimited Interac e-Transfer transactions.
Min. Age N/A
Account Fee $4
Overdraft Fee $5
ATM Out-of-Network Fee $2
U.S. ATM Fee $3
International ATM Fee $5

Alternative: BMO Practical Chequing Account

Get 12/month free transactions and unlimited free Interac e-Transfers for $4 a month (waived for seniors and RDSP beneficiaries). Plus, get the monthly fee waived for a BMO Premium Rate Savings Account.

RBC Advantage Banking

RBC Advantage Banking

N/A
Bonus Offer
$11.95
Monthly Account Fee
unlimited
Free Transactions
The RBC Advantage Banking costs per month and comes with unlimited free debit transactions and $0 Interac e-Transfers. The monthly account fee is reduced if you have 2+ eligible RBC products (such as a credit card and personal investment account). It's waived for full-time students and newcomers to Canada. Seniors will pay just $7.95 per month. The fee for using non-RBC ATMs in Canada is $0 (ATM networks may still charge a fee).
Min. Age N/A
Account Fee $11.95
ATM Out-of-Network Fee $0

Alternative: BMO Performance Chequing Account

For $17.95 a month, get unlimited free transactions and Interac e-Transfers, 1 free non-BMO ATM withdrawal each month and a bonus 0.1% interest rate on 1-5 year GICs. Monthly fee waived for students and Canadian Armed Forces members. Newcomers to Canada get a 1-year monthly fee waiver. Learn more here.

RBC Advantage Banking for Students

RBC Advantage Banking for Students

Earn $100
Bonus Offer
$0
Monthly Account Fee
N/A
Free Transactions
Full-time students aged 13 and up can open a RBC Advantage Banking for Students for $0 per month. Get unlimited free debit transactions, unlimited free Interac e-Transfers and a rebate of up to $48 on the annual fee of an eligible BMO credit card. Plus, pay $0 to use non-RBC ATMs in Canada (ATM networks may still charge a fee). Easily manage funds anytime, anywhere with the RBC Mobile Student Edition app.
Min. Age 13
Account Fee $0
ATM Out-of-Network Fee $0

Alternative: TD Student Chequing Account

For $0 a month, students get unlimited transactions and Interac e-Transfers, $0 overdraft protection (interest applies), 50% more Stars at participating Starbucks stores and free paper or online statements. Plus, earn 0.01% interest on your balance.

RBC U.S. Personal Account

RBC U.S. Personal Account

N/A
Bonus Offer
$3
Monthly Account Fee
N/A
Free Transactions
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 $3 but you'll be able to make up to 6 free debit transactions per month.
Min. Age N/A
Account Fee $3

Alternative: TD U.S. Daily Interest Chequing Account

Earn interest on every US dollar you hold for $0 a month. Get competitive rates when you exchange US dollars and many other currencies. But you'll have to pay US$1.25 for every transfer you make from this account unless you hold a minimum balance of US$1,500.

RBC U.S. Bank Accounts for Canadians

RBC U.S. Bank Accounts for Canadians

RBC U.S. Bank Accounts for Canadians

N/A
Bonus Offer
N/A
Monthly Account Fee
N/A
Free Transactions
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 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.
Min. Age N/A
Account Fee N/A

Alternative: Meridian U.S. Dollar Chequing Account

Make and receive payments in US dollars with a Meridian U.S. Dollar Chequing Account. Earn interest on every dollar, and make unlimited free deposits — all for $0 a month.

RBC Digital Choice Business Account

RBC Digital Choice Business Account

N/A
Bonus Offer
$6
Monthly Account Fee
unlimited
Free Transactions
If you manage most of your business banking via your smartphone, the RBC Digital Choice Business Account is perfect for you. For a $6 monthly fee, you can quickly and easily pay employees and suppliers, request payments, track your spending and business performance, deposit cheques, send transfers and much more.
  • Unlimited electronic transactions
  • Unlimited mobile and ATM cheque deposits
  • Low monthly fee
  • Only 10 Interac e-Transfers per month
Min. Age N/A
Account Fee $6

RBC Ultimate Business Account

RBC Ultimate Business Account

RBC Ultimate Business Account

$100
Monthly Account Fee
CAD
Multicurrency Accounts
Varies
Currency Conversion Fee
The RBC Ultimate Business Account is the business bank account for you. This all-inclusive package includes unlimited electronic debit, credit and e-Transfer transactions, not to mention the convenience of 100 paper transactions per month. Unlimited electronic cheque and Moneris deposits are included too, plus up to $25,000 free cash deposits per month. There is a monthly fee of $100, but this is waived if your balance is $75,000 or higher.
  • Unlimited electronic transactions
  • 100 paper transactions per month
  • Monthly fe of $100
Monthly Account Fee $100
Multicurrency Accounts CAD
Currency Coversion Fee Varies
GIC Available Yes

RBC Flex Choice Business Account

RBC Flex Choice Business Account

$7
Monthly Account Fee
CAD
Multicurrency Accounts
Varies
Currency Conversion Fee
The RBC Flex Choice Business Account is great for start-ups. It offers no minimum or maximum transaction limits, this account is well worth considering if you don't yet know exactly what your banking needs are. With a monthly fee of $7, this account is designed for businesses that have 5 to 75 paper transactions per month.
  • No mimimum or maximum transaction limits
  • Low monthly fee
  • Discounts and special offers
  • Flexibility to bank both digitally and in-branch
  • Might not be suitable for bigger businesses
Monthly Account Fee $7
Multicurrency Accounts CAD
Currency Coversion Fee Varies
GIC Available Yes

Compare other chequing accounts

BMO Performance Chequing Account logo

BMO Performance Chequing Account

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Monthly Account Fee

$17.95


Free Transactions

unlimited


e-Transfer Fee

$0


Bonus Offer

Earn $600

Coast Capital Free Chequing, Free Debit, and More Account logo

Coast Capital Free Chequing, Free Debit, and More Account

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Monthly Account Fee

$0


Free Transactions

unlimited


e-Transfer Fee

$1.50


Bonus Offer

Earn $350

Simplii No Fee Chequing Account logo

Simplii No Fee Chequing Account

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Monthly Account Fee

$0


Free Transactions

unlimited


e-Transfer Fee

$0


Bonus Offer

Earn $400

If you spend and transfer your funds a lot, consider the Scotiabank Ultimate Package or Scotiabank Preferred Package. These accounts come with perks like unlimited free transactions, annual fee rebates on select credit cards, free equity trades with Scotia iTRADE, waived monthly fees for additional accounts and more.

If you’re main goal is avoiding monthly fees, check out the Simplii No Fee Chequing Account (backed by CIBC), the Coast Capital Chequing Account or the Tangerine No-Fee Daily Chequing Account.

Online and non-traditional banks tend to charge low fees. Just like Big Banks, these financial institutions are federally regulated and are often backed by the CDIC (Canada Deposit Insurance Corporation).

RBC chequing account fees

The total RBC chequing account fee you’ll pay each month depends on the features of your account and how you manage your money (transactions, transfers, ATM withdrawals etc.) Besides the fees listed above, here are some other RBC bank account fees you should be aware of:

  • Monthly paper statement with cheque images: $2.50 per month (unless you’re receiving the Seniors’ Rebate)
  • Withdrawals from non-RBC ATMs: $2 in Canada, $3 if using a PLUS network ATM in Canada or the US, $5 if using a PLUS network ATM outside Canada and the US.
  • Cross-border debits: $1 each
  • Online cheque viewing: $1.50 per item viewed
  • Overdraft protection: $5 per month (plus interest)
  • Bank drafts: $9.95 CAD
  • NSF fee: $45

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 a chequing account at RBC

Before you open an RBC chequing account, make sure you meet the eligibility requirements for the account you’re interested in. Exact requirements vary between RBC bank 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 verifying that you’re eligible for the Royal Bank 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.

Frequently asked questions about RBC chequing accounts

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