Updated: April 2025  |  bremo.io financial guides

RBC Chequing Accounts Review 2025

RBC Royal Bank is one of Canada's largest banks by market capitalization and offers a well-regarded suite of chequing accounts ranging from basic to premium. Here's an honest review of RBC's chequing options and how they compare in today's market.

RBC Chequing Account Lineup

RBC Day to Day Banking — $4.00/month

Includes 12 free transactions per month. Additional transactions are charged individually. This is RBC's most basic paid account. Suitable for very light banking users only.

RBC Advantage Banking — $11.00/month

Unlimited RBC transactions and 50 e-Transfer credits per month. Fee waiveable with $3,000 minimum daily balance. Popular mid-range choice for everyday RBC banking.

RBC Signature No Limit Banking — $16.95/month

Unlimited transactions, unlimited Interac e-Transfers, and select premium features. Fee waived with $4,000 minimum daily balance. RBC's most popular chequing account tier.

RBC VIP Banking — $30.00/month

RBC's premium account with unlimited everything, annual fee rebate on select RBC credit cards, and additional perks. Fee waived with $6,000 minimum daily balance.

RBC Features Worth Noting

• RBC Mobile App: Consistently rated one of Canada's best banking apps
• NOMI: RBC's AI-powered financial insights and automatic savings tool
• RBC Vantage: Rewards and perks program linked to RBC accounts
• Newcomer advantage: RBC New to Canada Banking offers fee waivers for eligible newcomers

RBC vs Free Alternatives

RBC's Advantage Banking at $11/month is comparable on features to accounts that cost nothing (KOHO, Simplii). The primary value RBC provides over free alternatives is branch access, mortgage services, investment products, and in-person customer service.

RBC Chequing: Pros and Cons

Pros:

• Excellent digital banking tools including NOMI
• Nationwide branch and ATM network
• Comprehensive financial product suite
• Strong newcomer banking program
• Solid mobile app ratings

Cons:

• Monthly fees apply unless balance minimums are maintained
• Savings rates on standard accounts are low
• Free alternatives offer the same transaction features at $0/month

Verdict

RBC is a reliable, full-service bank with strong digital tools. For full-service banking needs, RBC Signature No Limit is a solid choice — especially if you can maintain $4,000 to waive the $16.95 fee. For everyday chequing without branch needs, KOHO or Simplii Financial provide comparable daily banking features at no cost.