RBC chequing account monthly fees range from $4/month for the basic Day to Day Banking account to $30/month for the premium VIP Banking account. The most popular middle-tier — No Limit Banking — costs $10.95/month with unlimited debit transactions. Monthly fees can be waived by maintaining a minimum balance, depending on the account tier.
Quick answer: RBC Day to Day Banking: $4/month (12 transactions). No Limit Banking: $10.95/month (unlimited). Signature No Limit Banking: $16.95/month (unlimited + premium features). VIP Banking: $30/month (full premium). Student accounts: free.
Always verify current rates and conditions directly with RBC — fees and features can change.
RBC Chequing Account Fees Comparison 2026
| Account | Monthly Fee | Fee Waiver Balance | Transactions Included | e-Transfers |
|---|---|---|---|---|
| Day to Day Banking | $4.00 | $3,000 | 12 debits | Count as transaction |
| No Limit Banking | $10.95 | $4,000 | Unlimited | Included |
| Signature No Limit Banking | $16.95 | $4,000 | Unlimited | Included |
| VIP Banking | $30.00 | Not waivable | Unlimited | Included |
| Student Banking | $0 | N/A | Unlimited | Included |
| RBC Advantage Banking for Students | $0 | N/A | Unlimited | Included |
Minimum balance fee waivers are calculated based on the minimum daily balance held during the statement period, not the average balance.
RBC Day to Day Banking — $4/Month
The entry-level RBC chequing account includes:
- 12 debit transactions per month (each additional: $0.65)
- 1 free Interac e-Transfer per month (additional: $1.00 each)
- RBC Online Banking and Mobile Banking access
- No minimum balance required
- Monthly fee waived with minimum $3,000 daily balance
Best for: Low-transaction users who keep a $3,000+ balance and want the fee waived, or users with minimal banking activity.
Not ideal for: Anyone who makes more than 12 debit transactions per month — the per-transaction fee of $0.65 makes it more expensive than upgrading to No Limit Banking once you exceed ~20 transactions.
RBC No Limit Banking — $10.95/Month
RBC’s most widely used personal chequing account:
- Unlimited debit transactions
- Unlimited Interac e-Transfers
- RBC Online and Mobile Banking
- Access to RBC’s full ATM network
- Monthly fee waived with minimum $4,000 daily balance
Best for: Everyday banking with regular debit use, e-transfers, and bill payments. The $4,000 balance waiver is achievable for many Canadian households.
Not ideal for: Users who want premium travel perks or don’t maintain a $4,000 balance — in that case, EQ Bank or Tangerine offer unlimited banking at $0/month.
RBC Signature No Limit Banking — $16.95/Month
Premium tier with additional perks:
- Unlimited debit transactions
- Unlimited Interac e-Transfers
- No-fee RBC credit card annual fee rebate (on qualifying cards)
- No RBC non-client ATM fees
- Monthly fee waived with minimum $4,000 daily balance
- Eligible for RBC Avion points top-up offers
Best for: RBC credit card holders who can offset the annual card fee through this account — effectively turning $16.95/month into a net gain depending on the card rebate amount.
RBC VIP Banking — $30/Month
RBC’s top personal banking tier:
- Unlimited debit transactions and e-Transfers
- Annual fee rebate on one premium RBC credit card (up to $120 value)
- Travel medical insurance included
- Identity theft protection
- Priority customer service
- No fee waiver option
Best for: High-usage RBC customers who hold a premium travel credit card and want the annual fee rebated, effectively reducing the real cost of the account. At $30/month ($360/year), this only makes financial sense if you fully use the credit card rebate and travel insurance benefits.
RBC Student Accounts — Free
RBC offers free banking for qualifying post-secondary students:
- Unlimited transactions and e-Transfers
- No monthly fee while enrolled (proof of enrolment required periodically)
- Access to full RBC digital and branch banking
- Converts to a standard account upon graduation
Best for: Students at eligible Canadian post-secondary institutions. Arguably the best deal RBC offers — the No Limit Banking feature set at $0/month.
RBC Additional Fees to Know
| Fee Type | Amount |
|---|---|
| NSF (returned item) | $45.00 |
| Overdraft protection | $5.00/month + ~21% interest |
| Non-RBC ATM (within Canada) | $2.00 |
| International ATM withdrawal | $5.00 |
| Paper statement | $2.25/month |
| Stop payment | $12.50 |
| Bank draft | $8.50 |
| Certified cheque | $15.00 |
| Safe deposit box | From $50/year |
NSF fees at $45 are among the highest in Canadian banking. If you regularly operate near a zero balance, overdraft protection at $5/month is significantly cheaper than a single NSF charge.
Is RBC Worth the Fees?
For most Canadians, the honest answer is no — not for savings. RBC’s chequing accounts are competent and the branch network is unmatched, but:
- RBC savings rate: 0.05% vs EQ Bank at 4.00%
- RBC No Limit Banking: $10.95/month vs EQ Bank savings + payment account at $0/month
- RBC Interac e-Transfer included — so is EQ Bank’s
The case for RBC is: branch access, an existing relationship, mortgage or investment accounts at RBC that benefit from consolidated banking, or credit card perks that offset the account fee.
The case against: you pay $131/year ($10.95 × 12) for unlimited banking that EQ Bank or Tangerine provide for free, plus you earn 80× less on your savings balance. On a $25,000 balance, switching to EQ Bank saves $131 in fees and earns ~$975 more in interest — a total annual advantage of over $1,100.
RBC Fee Waiver: Is the $4,000 Balance Worth It?
On the No Limit Banking account, maintaining $4,000 waives the $10.95/month fee. But that $4,000 earns $2/year at RBC’s 0.05% rate. The same $4,000 at EQ Bank earns $160/year.
The opportunity cost of parking $4,000 at RBC to waive the fee:
- Fee waived: $131/year saved
- Interest foregone vs EQ Bank: $158/year lost
- Net: -$27/year compared to paying the fee and moving the money to EQ Bank
The math suggests paying RBC’s fee and moving your savings to a competitive HISA is better than maintaining a balance to waive it — unless you genuinely need the money in a liquid chequing account at all times.
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