CIBC and RBC are two of Canada's Big Five banks, both offering complete financial services from everyday chequing to investment banking. RBC is Canada's largest bank; CIBC is fifth by assets. This detailed comparison examines where each bank excels, where they fall short, and whether either deserves your business in 2025.
CIBC
Canada's 5th largest bank. Strong US banking via CIBC Bank USA. Good newcomer programs.
RBC Royal Bank
Canada's largest bank. Most ATMs, strongest mortgage rates, Avion rewards.
Side-by-Side Comparison: CIBC vs RBC
| Category | CIBC | RBC Royal Bank | Winner |
|---|---|---|---|
| Monthly Fee (Basic) | $6.95–$10.95 | $11.95 | CIBC WIN |
| Monthly Fee (Premium) | $16.95 | $16.95 | Tie |
| Savings Rate (HISA) | ~0.01–0.05% | ~0.01–0.05% | Tie |
| ATM Network | 3,400+ ATMs | 4,900+ ATMs | RBC WIN |
| Branches | 1,000+ | 1,200+ | RBC WIN |
| US Banking | CIBC Bank USA — solid | Limited US retail banking | CIBC WIN |
| Rewards Program | CIBC Rewards | RBC Avion (superior) | RBC WIN |
| Mobile App Rating | 4.3 / 5 | 4.4 / 5 | RBC WIN |
| Mortgage Rates | Competitive | Often lowest among Big 5 | RBC WIN |
| CDIC Insured | Yes | Yes | Tie |
| Business Banking | Strong | Very strong | RBC WIN |
| Newcomer Programs | CIBC Smart Start | RBC Newcomer Advantage | Both strong |
| Self-Directed Investing | CIBC Investor's Edge | RBC Direct Investing | Both solid |
Monthly Fees: CIBC Wins on Entry-Level Pricing
CIBC's basic Smart Account starts at $6.95/month (waived with a $3,000 minimum balance) — cheaper than RBC's comparable Day-to-Day Banking at $11.95/month. This is CIBC's clearest advantage over RBC for budget-conscious customers. On premium accounts, both banks converge at similar price points. That said, both are expensive compared to digital alternatives — KOHO's $0/month fee makes both banks look poor value.
Network Size: RBC Wins Clearly
RBC's 4,900+ ATMs and 1,200+ branches significantly outsize CIBC's approximately 3,400 ATMs and 1,000 branches. For customers who rely on physical branches or use cash frequently, RBC's network provides better geographic coverage across Canada, particularly in rural areas and smaller cities where CIBC may not have local branches.
Mortgages: RBC Has the Edge
RBC consistently posts some of the lowest advertised mortgage rates among Canada's Big Five. CIBC is competitive but generally slightly higher on posted rates. Both banks offer pre-payment privileges, various amortization options, and dedicated mortgage specialists. RBC's larger mortgage team and broader product portfolio give it a marginal advantage, particularly for complex or investment property mortgages.
US Banking: CIBC's Key Advantage
CIBC Bank USA provides US retail banking services through a dedicated subsidiary, offering accounts, mortgages, and banking services for Canadians with US connections. While not as extensive as TD Bank USA's network, CIBC Bank USA gives CIBC a meaningful advantage over RBC for cross-border customers. Snowbirds, cross-border commuters, and Canadians with US business interests may find CIBC's US offering valuable.
Rewards: RBC Avion is Superior
RBC's Avion rewards program consistently outrates CIBC Rewards for flexibility and redemption value. RBC Avion points can be redeemed for flights, hotels, merchandise, and transferred to Air Canada Aeroplan. The Avion Visa Infinite is one of Canada's premier travel cards. CIBC Rewards is functional but offers less flexibility and generally lower value per point than Avion. For rewards-focused customers, RBC is clearly better.
CIBC Pros and Cons
CIBC Pros
- Lower entry-level fees ($6.95/month vs $11.95)
- CIBC Bank USA — solid cross-border banking
- CIBC Smart Start — good newcomer offers
- CIBC Investor's Edge — low-cost self-directed
- CIBC Smart Account — simple, no-frills option
CIBC Cons
- Smaller ATM and branch network than RBC
- CIBC Rewards inferior to RBC Avion
- Lower mobile app ratings than RBC, TD
- Savings rates near zero
- Customer satisfaction rankings consistently below RBC and TD
RBC Pros and Cons
RBC Pros
- Canada's largest bank — most ATMs (4,900+)
- Often lowest posted mortgage rates
- RBC Avion rewards — top-tier program
- Largest branch network in Canada
- Strong business banking
- MyAdvisor digital financial planning tool
RBC Cons
- Higher entry-level fees than CIBC ($11.95)
- Limited US banking access
- Savings rates near zero
- Fee waiver requires $4,000+ minimum balance
- Customer service wait times can be lengthy
The Better Alternative: $100 with KOHO
While CIBC and RBC charge $6.95–$30/month, KOHO gives you $0 fees, 3.0% savings interest, and a $100 welcome bonus. Use code 45ET55JSYA when signing up.
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Final Verdict: CIBC vs RBC Canada 2025
RBC wins this comparison on most measures — larger network, better mortgage rates, superior Avion rewards program, and a better-rated mobile app. CIBC's advantages are lower entry-level fees and CIBC Bank USA for cross-border banking. Both pay negligible savings rates. For everyday banking, KOHO ($0 fees, 3.0% savings, $100 bonus with code 45ET55JSYA) outperforms both CIBC and RBC. If you need a big bank primarily for a mortgage, RBC is the better choice. If you cross the US border frequently, CIBC's US banking gives it an edge in that specific use case.
Frequently Asked Questions — CIBC vs RBC
RBC Royal Bank is Canada's largest bank by assets, total customers, and ATM network. CIBC is Canada's fifth largest bank by assets. Both are federally chartered Schedule I banks with full CDIC deposit insurance. In terms of total customer accounts and branch presence, RBC significantly outsize CIBC.
Yes — CIBC's entry-level Smart Account starts at $6.95/month, significantly cheaper than RBC's Signature No Limit Banking at $16.95/month or the basic Day-to-Day Banking at $11.95. However, CIBC's fee waiver balance requirements are similar to RBC's. At the premium end, fees converge between the two banks. Neither is cheap compared to digital alternatives like KOHO ($0/month).
RBC Avion is widely considered superior to CIBC Rewards. Avion points offer flexible redemption including Air Canada Aeroplan transfers, direct flight bookings, hotel rewards, and merchandise. CIBC Rewards is functional but offers less flexibility and generally lower redemption values. If travel rewards are important to you, RBC's program is meaningfully better.
CIBC wins for US banking. CIBC Bank USA provides US retail banking services for Canadians crossing the border. RBC has US investment and wealth management services but a more limited US retail banking presence. For snowbirds, US-connected Canadians, or cross-border commuters, CIBC's US banking is a genuine advantage over RBC.
For daily banking without monthly fees, KOHO ($0/month, 3.0% savings rate, $100 bonus with code 45ET55JSYA) is significantly better than both CIBC and RBC. For the highest savings rates, EQ Bank (3.75%) outperforms both banks. Many Canadians use KOHO for daily spending, EQ Bank for savings, and maintain a big bank account solely for their mortgage or complex financial products.
Switching from CIBC to RBC for daily banking provides modest improvement — better ATM access, Avion rewards, and generally better mortgage rates. However, the biggest improvement would come from switching to KOHO for daily banking ($0 fees vs $6.95–$16.95, 3.0% savings vs near-zero). Keep whichever big bank relationship you need for your mortgage, but use KOHO as your primary daily spending account.
Disclosure: Bremo may earn a referral commission if you open a KOHO account using our link. This does not affect our editorial ratings or rankings. All fees and rates accurate as of March 2026. Not financial advice.