RBC Chequing Accounts Canada 2026 — All Plans Compared

Updated March 2026 · 10 min read

RBC Royal Bank is Canada's largest bank by market cap. Its chequing account lineup ranges from a $4/month light-use option to a $30/month VIP bundle with a credit card annual fee waiver. Here's a complete breakdown of every RBC personal chequing plan available in 2026.

RBC Chequing Accounts — Full Comparison

RBC Day to Day Banking — $4.00/month

RBC's entry-level chequing account. Includes 12 debit transactions per month; additional transactions cost $0.65 each. Interac e-transfers cost $1.50 to send. No fee waiver available based on balance — the $4 is charged regardless. Best for people who do almost all banking via credit card and rarely use their debit card. However, KOHO at $0 with unlimited transactions is almost always the better choice.

RBC No Limit Banking — $10.95/month

Unlimited debit transactions, but e-transfers still cost $1.50 each. The $10.95 fee is waived with a $3,000 minimum daily balance. If you use Interac e-transfers regularly, the per-transfer charges will add up — consider Signature No Limit instead.

RBC Signature No Limit Banking — $16.95/month

RBC's most popular everyday account. Unlimited transactions AND free Interac e-transfers. Fee waived with $4,000 daily minimum balance. This is the best RBC account for most Canadians who need unlimited banking.

• Unlimited debit transactions (in-branch, ATM, online)
• Free Interac e-transfers
• Free Interac Flash (contactless)
• 1 free non-RBC ATM withdrawal per month in Canada
• Monthly fee waived with $4,000 minimum daily balance
• Overdraft protection available (enrollment required)

RBC VIP Banking — $30.00/month

RBC's premium chequing bundle includes everything in Signature No Limit plus:

• Annual fee rebate on one eligible RBC credit card (up to $120 value)
• Free personalized cheques
• Free bank drafts and money orders
• 3 free non-RBC ATM withdrawals per month in Canada
• Free large safety deposit box (at participating branches)
• Complimentary outgoing wire transfers (domestic)
• Monthly fee waived with $5,000 minimum daily balance

RBC Student Banking — Free

Full-time post-secondary students get free unlimited chequing at RBC. Proof of enrollment required. The account converts to a standard plan (typically No Limit Banking) after the student status period ends. RBC occasionally offers cash bonuses for student account openings.

RBC US Dollar Account

RBC also offers a US Dollar Personal Account for Canadians who regularly transact in USD. There is a $2/month fee. This is covered in our USD account guide →

RBC Chequing Fee Breakdown

RBC Avion Rewards and Chequing

RBC chequing accounts don't earn Avion points directly on debit purchases. You earn Avion points only on RBC Avion credit card purchases. However, the VIP Banking package provides synergy if you hold an RBC credit card — the annual fee rebate makes the bundle worthwhile for loyal RBC customers.

How to Open an RBC Chequing Account

1. Apply online at rbc.com or visit an RBC branch.
2. Bring one piece of government-issued photo ID.
3. Provide your SIN for tax reporting.
4. Fund your account (no minimum deposit required).

RBC vs Competitors

For most Canadians who want no-fee banking, KOHO or EQ Bank outperform any RBC plan. If you need the physical branch network and prefer keeping all banking with one institution, RBC's Signature No Limit (waived with $4K balance) is the best value within the RBC lineup. See full comparison →