RBC Bank Review 2025: Canada's Largest Bank Reviewed

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Updated March 2025. RBC (Royal Bank of Canada) is Canada's largest bank by assets and market capitalization, serving over 17 million clients. With 1,200+ branches, 4,400+ ATMs, and a strong global presence, RBC is the default bank for millions of Canadians. But does it deliver value for the fees it charges?

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RBC: Quick Facts

Category	Details
Full Name	Royal Bank of Canada
Founded	1864
Total Assets	~$2.1 trillion CAD
Canadian Branches	~1,200
ATMs (Canada)	~4,400
Employees	~92,000
Mobile App (iOS)	4.6/5
CDIC Member	Yes

RBC Chequing Account Fees

Account	Monthly Fee	Transactions	Fee Waiver
RBC Day to Day Banking	$11.95	12/month	$3,000 balance
RBC Signature No Limit Banking	$16.95	Unlimited	$4,000 balance
RBC VIP Banking	$30.00	Unlimited	$6,000 balance
RBC Student Banking	$0	Unlimited	Student status

RBC Avion Rewards

RBC's Avion loyalty program is one of Canada's most flexible rewards systems:

Redeem on any airline with no blackout dates
Transfer to British Airways Avios, Cathay Pacific, and other partners
Flexible retail redemptions for gift cards and merchandise
RBC Avion Visa Infinite: earn 1 point per $1 on everyday spending, 1.25x on travel

Avion is best for flexible travellers who don't want to be locked into a single airline's program.

RBC Credit Cards

RBC Avion Visa Infinite: Flexible travel rewards, $120/year
RBC Cashback Mastercard: 2% on groceries, 1% on everything, $0/year
RBC Westjet Mastercard: WestJet dollars on purchases, $0/year
RBC ION Visa: 1.5x RBC Rewards+ on groceries/streaming/gas, $0/year

RBC's no-fee ION Visa and Cashback Mastercard are strong entry-level options.

RBC Savings Rates

Account	Rate
RBC High Interest eSavings	~1.05%
RBC TFSA Savings	~1.05%
RBC 1-Year GIC	~3.5–4.5%

RBC Mortgages

RBC is Canada's largest mortgage lender by origination volume. Strengths:

Competitive fixed and variable rates
Strong digital pre-approval process
RBC Homeline Plan (HELOC + mortgage combined)
New to Canada mortgage programs
Always negotiate posted rates or use a mortgage broker

RBC Digital Banking

RBC's app is rated 4.6/5 on iOS — the highest among Big 5 banks. Features include:

NOMI Insights — AI-powered spending predictions and savings suggestions
NOMI Find & Save — automatically saves small amounts based on spending patterns
RBC InvestEase — digital investing platform
Mobile cheque deposit, bill payment, e-Transfer

RBC Pros:

Largest ATM network in Canada
Best-rated mobile app among Big 5
Flexible Avion travel rewards
NOMI AI financial tools
Strongest global banking presence

RBC Cons:

Monthly fees $11.95–$30.00
Low savings rates
High balance required for fee waivers ($6,000 for VIP)

Is RBC Worth It in 2025?

RBC is worth it if you want Canada's largest ATM network, the best mobile app among the Big 5, flexible Avion travel rewards, or full-service banking. For everyday spending without fees, KOHO is a better value.

Information current as of March 2025. Fees and rates are subject to change. Verify directly with RBC.