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  • Frequently asked questions
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RBC Signature No Limit Banking Account Review

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RBC Signature No Limit Banking Account
Bonus Offer
Get an iPad
Monthly Account Fee
$16.95
Free Transactions
unlimited
e-Transfer Fee
$0

Our verdict

Earn Avion points on unlimited free debit transactions in Canada and save on credit card rebates when you sign up for the everyday RBC Signature No Limit Banking chequing account. 

The RBC Signature No Limit Banking Account comes with unlimited transactions, the ability to earn Avion points on debit transactions, plus a host of other perks for a $16.95 monthly fee.

Best for:

Those looking for a wide array of products and services included in their monthly account fee.

Pros

  • Free bank drafts and one free cheque book
  • Rebates on basic credit card fees (Up to $48 rebate on an annual fee of an eligible credit card)
  • Overdraft protection fee waived
  • Free Interac e-Transfers
  • Earn Avion points on debit transactions

Cons

  • Monthly fee of $16.95 (Less with the RBC Value Program rebate)
  • Caps on certain perks

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews

What are the benefits of the RBC Signature No Limit Banking Account?

The RBC Signature No Limit Banking Account is a good fit for customers who want a wide array of products and services included in their monthly account fee. These include the following:

  • Unlimited debit transactions. Make as many transfers, purchases and bill payments as you want in Canada with no associated fees.
  • Welcome offer. Get the new iPad when you switch to RBC & open an RBC Signature No Limit Banking Account. Valid until August 13, 2024.
  • RBC Avion points. Enrol your account in the Value Program to get a minimum of 1 RBC Rewards point for every $10 you spend in-store and online using your enrolled account.
  • Free Interac e-Transfers. Send money to family and friends for no additional fee with unlimited Interac e-Transfers.
  • Non-RBC ATM rebates. Get your RBC ATM fees waived when you take money out of non-RBC ATMs (up to three withdrawals waived per month).
  • Special rebates. Save up to $10.95 each month if you hold multiple RBC accounts or $12.95 if you qualify for a senior’s discount.
  • Free bank drafts. Get up to six free bank drafts per year included with this account.
  • Free cross-border debits. Take advantage of five cross-border debits per month (and pay one dollar per debit once you exceed this amount).
  • Credit card fee waivers. Save up to $48 per year on the annual fee when you sign up for an eligible credit card.
  • Free cheque book. Receive one free cheque book at no cost. Fees apply for any additional cheque books you may require.
  • Overdraft protection. Protect yourself from non-sufficient funds (NSF) charges on your account if your balance dips below zero with complimentary overdraft protection.
  • Fuel savings at Petro-Canada. Link your card to Petro-Canada and instantly save 3¢ per litre on fuel and earn 20% more Petro-Points.

What should I look out for?

While the RBC Signature No Limit Banking Account is well-known for offering a host of benefits, it also comes with a few drawbacks:

  • Monthly fee. The monthly fee for this account is $16.95, which works out to $191.40 per year if you don’t factor in any discounts like the RBC Value Program Rebate.
  • Caps on certain perks. Certain benefits aren’t unlimited and will be capped when you reach a specified amount.
  • Only beneficial if you use all the perks. This account will likely only be worth the money if you plan to take advantage of all of its perks and benefits.

RBC Signature No Limit Banking Account‘s ATM network and fees

You can expect to pay a monthly fee of $16.95 per month with the RBC Signature No Limit Banking Account. This adds up to $191.40 per year, which may not be worth the return you get in benefits. That’s why it’s important to weigh the costs of the free services you’ll receive against how much you need to pay to keep your account active.Get the new iPad when you switch to RBC & open an RBC Signature No Limit Banking Account. Valid until August 13, 2024. (An ATM operator surcharge, also called convenience fee, may be charged by other ATM operators. The convenience fee is not a Royal Bank fee. It is added directly to the amount of your cash withdrawal. All clients who use non-RBC ATMs may be charged a convenience fee regardless of the type of RBC account they hold.)

One of the main benefits of this account is that it offers 3 non-RBC ATM fees waived per month across the country.

What other chequing options does RBC offer?

RBC offers a number of other chequing accounts depending on your preferences. These include the following:

  • RBC VIP Banking Account. This account offers unlimited transactions, free ATM withdrawals, premium credit card rebates (up to $120) and free overdraft protection. It comes with a monthly fee of $30.
  • RBC Day to Day Banking Account. This is RBC’s bare-bones account. It includes 12 free monthly debits and costs only $4 per month to activate. That said, it doesn’t provide many benefits and may not be the best fit if you have complex banking needs.

Compare with other chequing accounts

1 - 17 of 17
Name Product Monthly Account Fee Free Transactions e-Transfer Fee Bonus Offer Offer
BMO Performance Chequing Account
BMO Performance Chequing Account
$17.95 (can be waived)
unlimited
$0
Earn $600
Get up to a $600 cash bonus. Valid until July 2, 2024. Plus, earn a 5.50% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
Simplii No Fee Chequing Account
Simplii No Fee Chequing Account
$0
unlimited
$0
Earn $400
Earn $400 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends October 31, 2024.
Scotiabank Preferred Package
Scotiabank Preferred Package
$16.95 (can be waived)
unlimited
$0
Earn $400
Earn a welcome bonus of up to $400. Valid until July 31, 2024. Plus, earn up to 6.05% interest for 3 months on your MomentumPLUS Savings Account.
RBC Signature No Limit Banking Account
RBC Signature No Limit Banking Account
$16.95 (can be waived)
unlimited
$0
Get an iPad
Get the new iPad when you switch to RBC & open an RBC Signature No Limit Banking Account. Valid until August 13, 2024.
Coast Capital Free Chequing, Free Debit, and More Account
Coast Capital Free Chequing, Free Debit, and More Account
$0
unlimited
$1.50
Earn $350
Earn up to $350 when you become a member and open a Free Chequing account plus other products until June 30, 2024. Conditions apply.
Scotiabank Basic Bank Account
Scotiabank Basic Bank Account
$3.95
12/month
$0
N/A
EQ Bank Personal Account
EQ Bank Personal Account
$0
unlimited
$0
Earn 4.00% interest
Enjoy high interest with no fees on everyday banking, plus unlimited transactions and no minimum balances. Sign up online in minutes.
Scotiabank Ultimate Package
Scotiabank Ultimate Package
$30.95 (can be waived)
unlimited
$0
Earn $400
Earn a welcome bonus of up to $400. Valid until July 31, 2024. Plus, earn up to 6.05% interest for 3 months on your MomentumPLUS Savings Account.
Scotiabank Student Banking Advantage Plan
Scotiabank Student Banking Advantage Plan
$0
unlimited
$0
Earn $100
Earn up to a $100 welcome bonus when you open an account. Apply by July 2, 2024.
Coast Capital Unlimited Chequing Account
Coast Capital Unlimited Chequing Account
$8.50 (can be waived)
unlimited
$0
Earn $450
Earn up to $450 when you become a member and open an Unlimited Chequing Account plus other products until June 30, 2024. Conditions apply.
Innovation Federal Credit Union No-Fee Chequing Account
Innovation Federal Credit Union No-Fee Chequing Account
$0
unlimited
$0
Win a spring getaway
Open an account and you could win a $2,500 spring getaway. Valid until June 30, 2024.
Go to site
Scotiabank Basic Plus Bank Account
Scotiabank Basic Plus Bank Account
$11.95 (can be waived)
25/month
$0
N/A
BMO Premium Plan Chequing Account
BMO Premium Plan Chequing Account
$30.95 (can be waived)
unlimited
$0
Earn $600
Get up to a $600 cash bonus. Valid until July 2, 2024. Plus, earn a 5.50% bonus interest rate when you add a Savings Amplifier Account.
BMO Performance Student Chequing Account
BMO Performance Student Chequing Account
$0 (can be waived)
unlimited
$0
Earn $100
Earn a $100 cash bonus and enjoy six months of Domino’s Pizza (worth $95, one pizza per month) when you open a new BMO Student Chequing Account. Valid until October 31, 2024.
Coast Capital Elevate Chequing Account
Coast Capital Elevate Chequing Account
$16.95 (can be waived)
unlimited
$0
Earn $600
Earn up to $600 when you become a member and open an Elevate Chequing Account plus other products until June 30, 2024. Conditions apply.
BMO New to Canada Performance Chequing Account
BMO New to Canada Performance Chequing Account
$16.95 (can be waived)
unlimited
$0
Earn $600
Earn up to a $600 welcome bonus. Valid until October 31, 2024. Plus, earn a 5.50% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
BMO Canadian Defence Community Banking Performance Plan Chequing Account
BMO Canadian Defence Community Banking Performance Plan Chequing Account
$0
unlimited
$0
N/A
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How do I open an RBC Signature No Limit Banking Account?

Eligibility requirements

To apply for an RBC Signature No Limit Banking Account, you need to meet the following criteria:

  • Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces). Or you can be a non-resident living in Canada or planning to move to Canada

Required documents and information

  • Your name, residential status and contact information
  • Your Social Insurance Number (optional) and date of birth
  • Your email address and phone number
  • Proof of ID: for example, a driver’s licence or passport

How do I deposit or withdraw my money?

You can easily take money out of your account using your debit card or by visiting a branch in person to speak to a teller. You’ll also be able to make free transfers between accounts or send money back and forth using unlimited free Interac e-Transfers.

To put money into your account, you’ll need to deposit a cheque or a lump sum of cash. You may also want to transfer money in from an external account to load up your RBC Signature No Limit Banking Account with funds.

Expert review

The RBC Signature No Limit Banking Account is a mid-level chequing account that offers a nice array of benefits. It’s best-suited for customers who do a fair amount of banking and want free unlimited withdrawals, credit card rebates and other exclusive perks. Just be aware that this account comes with a monthly fee of $16.95, which can put a dent in your pocketbook unnecessarily if you don’t plan to use all of its benefits.

Frequently asked questions

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