RBC Royal Bank is Canada’s largest bank by assets and market capitalisation, serving more than 17 million personal and commercial clients through over 1,200 branches and more than 4,000 ATMs — the largest Big 5 ATM network in the country. Monthly chequing fees range from $4 to $30 per month, depending on the account. Institution number: 003. SWIFT code: ROYCCAT2. Main line: 1-800-769-2511.
RBC at a Glance
| Feature | Detail |
|---|---|
| Institution number | 003 |
| SWIFT/BIC code | ROYCCAT2 |
| Customer service | 1-800-769-2511 (24/7) |
| Monthly fees | $4 – $30 |
| ATM network | 4,000+ ATMs (largest Big 5 network) |
| ATM daily withdrawal limit | $1,000 |
| Debit daily purchase limit | $5,000 |
| e-Transfer daily limit | $3,000 |
| e-Transfer 7-day limit | ~$10,000 |
| Wire transfer (domestic) | ~$15–$25 |
| Wire transfer (international) | ~$25–$45 |
| Loyalty program | Avion Rewards |
Who Is RBC Best For?
RBC is ideal for Canadians who want the security and breadth of the country’s largest financial institution — and for those who travel frequently or carry multiple financial products under one roof. The Avion Rewards program connects your chequing account, Avion Visa, and investment accounts, which makes RBC a strong choice for those consolidating banking, credit cards, and investments. RBC’s 4,000+ ATM network means you’re almost never more than a few blocks from a fee-free machine in any major Canadian city. It’s also a popular first choice for newcomers to Canada, given RBC’s dedicated newcomer banking program in multiple languages.
RBC Chequing Accounts
RBC offers five main personal chequing options, covering occasional users to heavy digital transactors.
Day to Day Banking ($4/month): RBC’s entry-level account — 12 debit transactions per month included, each additional transaction costs $0.65. No fee waiver option. Good for people who use cash heavily and rarely pay with debit.
No Limit Banking ($10.95/month): Unlimited debits and bill payments, free Interac e-Transfers. No monthly fee waiver available. This is the most straightforward unlimited account for everyday use.
Signature No Limit Banking ($16.95/month): Unlimited transactions plus one free non-RBC ATM withdrawal per month, and a rebate on one RBC credit card annual fee. Fee waived with a $4,000 minimum daily balance.
VIP Banking ($30/month): Unlimited transactions, annual fee rebate on premium RBC credit cards, free drafts, USD account access, and travel insurance perks. Fee waived with a $5,000 minimum daily balance.
Student Banking ($0/month): Free unlimited banking for full-time post-secondary students. No transactions limits, no monthly fee, and full access to RBC Online Banking and the RBC Mobile app.
| Account | Monthly Fee | Fee Waiver Balance | Transactions |
|---|---|---|---|
| Day to Day Banking | $4.00 | None | 12/month |
| No Limit Banking | $10.95 | None | Unlimited |
| Signature No Limit Banking | $16.95 | $4,000 | Unlimited |
| VIP Banking | $30.00 | $5,000 | Unlimited + perks |
| Student Banking | $0 | None | Unlimited |
How RBC Fees Work — and When They’re Waived
RBC charges monthly fees on a per-statement-period basis. For the Signature No Limit and VIP accounts, the fee is waived when you maintain the required minimum daily balance every day in the billing period. One day below the threshold triggers the full fee for that month — there is no partial waiver or prorating.
Worked example: A couple with $4,000 kept in their Signature No Limit account avoids the $16.95 monthly fee. Over 12 months, that’s $203.40 saved. Alternatively, if they let the balance fall to $3,800 just twice, they’d pay the full fee both months — $33.90 — for those two low-balance periods alone.
Extra transaction fees on the Day to Day account are $0.65 per transaction. Interac e-Transfers are included free on No Limit Banking and above. On the Day to Day account, e-Transfers count toward your 12-transaction monthly allotment; additional ones are charged per-use.
Non-RBC ATM fees in Canada are typically $2.00 from RBC, plus whatever the ATM operator charges. On the Signature No Limit account, one non-RBC ATM withdrawal per month is reimbursed.
RBC Key Limits
| Service | Limit |
|---|---|
| ATM daily withdrawal | $1,000 |
| Daily debit purchase limit | $5,000 |
| e-Transfer daily send limit | $3,000 |
| e-Transfer 7-day send limit | ~$10,000 |
| Mobile cheque deposit (daily) | $10,000 |
| Mobile cheque deposit (30-day) | $15,000 |
| Wire transfer (online, personal) | ~$25,000 |
The $1,000 daily ATM limit can be temporarily increased by calling 1-800-769-2511 or through RBC Online Banking — useful if you need a large cash withdrawal for a private sale or deposit. The increase reverts to $1,000 automatically.
The $3,000 daily e-Transfer limit is the Interac network standard. High-transaction customers and some premium account holders can request an increase through RBC’s business banking channels.
RBC Pros and Cons
| Pros | Cons |
|---|---|
| Largest bank in Canada — most extensive services | Monthly fees among the highest for basic plans ($16.95 Signature) |
| 4,000+ ATMs — most of any Big 5 bank | No fee-free unlimited option (No Limit at $10.95 has no waiver) |
| Avion Rewards integrates across banking and credit | $4,000 balance required to waive Signature No Limit fee |
| Newcomer Banking program in 14+ languages | Day to Day account has only 12 transactions/month |
| Excellent mobile app (RBC Mobile) | No interest paid on standard chequing balances |
| Global network — strong for international banking | Premium VIP account ($30) expensive if you can’t maintain $5,000 |
How to Open an RBC Account
- Apply online at rbcroyalbank.com or visit one of 1,200+ branches. Newcomers to Canada can apply through the RBC Newcomers program.
- Provide two pieces of government-issued ID — typically a passport or provincial driver’s licence plus a secondary document such as a SIN card, permanent resident card, or utility bill.
- Fund your account — online applications are funded by e-Transfer from another bank, or you can deposit cash or a cheque at a branch. No minimum opening balance is required on most accounts.
- Activate online and mobile banking — set up RBC Online Banking and download the RBC Mobile app. Your debit card arrives by mail in 5–7 business days if you apply online, or you may receive an instant-issue card in-branch.
RBC Banking Guides
Account & Fees
- RBC Fees 2026 — Monthly fees, transaction charges, and how to avoid paying them
- RBC Branch Hours 2026 — When RBC branches are open and how to access banking 24/7
Transfers & Payments
- RBC e-Transfer Limit 2026 — Daily, weekly, and monthly Interac e-Transfer limits
- RBC Wire Transfer Limit 2026 — How to send domestic and international wires from RBC
- RBC Routing Number 2026 — Institution number 003, how to find your transit number, and void cheque guide
Cash & Deposits
- RBC ATM Withdrawal Limit 2026 — Daily cash limits, debit purchase caps, and how to raise them
- RBC Mobile Deposit Limit 2026 — Cheque deposit via the RBC Mobile app — limits and hold times
Tips for Getting the Most from RBC
Leverage the 4,000+ ATM network. RBC’s is the largest Big 5 ATM network. Before using a non-RBC machine, search “RBC ATM near me” in Google Maps — you’re rarely more than a few blocks from a fee-free option in any major Canadian city.
Combine Avion with your credit card. The RBC Avion Visa Infinite earns 1 point per dollar on all purchases, with elevated rates on travel. If you bank with RBC, using an Avion Visa Infinite alongside your chequing account creates a single points pool redeemable for flights, hotels, and merchandise.
Use RBC’s newcomer program. If you’re new to Canada, RBC’s Newcomers program offers accounts with no Canadian credit history, multilingual support, and guidance on building a credit profile. RBC provides service in 14+ languages.
Monitor your Signature No Limit balance. If you’re waiving the $16.95 monthly fee with a $4,000 balance, set an alert at $4,200 in RBC Online Banking. One day below $4,000 forfeits the waiver for that month.
Consider RBC’s US banking integration. RBC has RBC Bank (USA) and US dollar accounts that allow Canadians to hold USD, pay US bills, and convert currency within the RBC ecosystem at institutional rates — useful for cross-border commuters and frequent US travellers.
How RBC Compares to Competitors
| Feature | RBC | TD | Scotiabank |
|---|---|---|---|
| Institution # | 003 | 004 | 002 |
| Popular unlimited plan fee | $16.95 | $10.95 | $16.95 |
| Fee waiver balance | $4,000 | $4,000 | $4,000 |
| ATM network | ~4,000 | ~3,500 | ~3,500 |
| Extended branch hours | Some | Yes | Some |
| Rewards program | Avion | TD Rewards | Scene+ |
Related Canadian Banking Guides
- Best Chequing Accounts in Canada 2026 — Compare RBC, TD, Scotiabank, and digital banks side by side
- Best High-Interest Savings Accounts in Canada 2026 — Top HISA rates for Canadians
- Canadian Bank Institution Numbers — Complete List — Every bank’s 3-digit routing code
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