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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Get KOHO Free — Use Code 45ET55JSYA| 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 |
| 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's Avion loyalty program is one of Canada's most flexible rewards systems:
Avion is best for flexible travellers who don't want to be locked into a single airline's program.
RBC's no-fee ION Visa and Cashback Mastercard are strong entry-level options.
| Account | Rate |
|---|---|
| RBC High Interest eSavings | ~1.05% |
| RBC TFSA Savings | ~1.05% |
| RBC 1-Year GIC | ~3.5–4.5% |
RBC is Canada's largest mortgage lender by origination volume. Strengths:
RBC's app is rated 4.6/5 on iOS — the highest among Big 5 banks. Features include:
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.