No fee everyday banking
Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.
RBC is Canada's largest bank and the home of Avion travel rewards. Tangerine is Scotiabank's digital-only banking brand offering zero fees, better savings rates, and the best no-annual-fee customizable cash back card in Canada. Here's how they compare for 2025 — and when you should use each (or both).
| Feature | RBC Royal Bank | Tangerine |
|---|---|---|
| Monthly chequing fee | $4.00–$30.00/mo | $0 — free |
| Annual fee savings (vs RBC mid) | — | ~$203/year |
| HISA rate | 0.01%–0.05% | 0.10%–0.15% + promos |
| Promo HISA rate | None | Up to 5%+ (new customers) |
| 1-yr GIC | ~3.65% | ~3.65%–4.00% |
| Credit card highlights | RBC Avion Visa Infinite | Tangerine Money-Back (2% categories) |
| ATM access | ~3,500 RBC ATMs | ~3,500 Scotiabank ATMs |
| Branches | ~1,200 | None (Cafes only) |
| Mortgage | Yes (full service) | Yes (digital) |
| Robo-advisor | RBC InvestEase | None |
| App Store rating | 4.8 | 4.3 |
| Parent bank | RBC | Scotiabank |
RBC charges $4/month for pay-per-use and $16.95 for unlimited transactions. Tangerine is free with unlimited transactions. For unlimited banking, Tangerine saves $203/year vs RBC. For very light users who barely exceed 1 transaction/month, RBC's $4 base account is competitive — but most Canadians exceed this quickly.
ATM access is comparable: RBC has ~3,500 ATMs, Tangerine uses Scotiabank's ~3,500 ATM network.
Tangerine pays 10x more than RBC on standard savings. The promotional rate for new Tangerine customers is often 5%+ for 5–6 months — far more than any promotional offer from RBC. For GICs, Tangerine and EQ Bank both offer rates above RBC's posted rates.
The key insight: if you have $20,000+ in savings sitting at RBC earning 0.01%, moving it to Tangerine for the promo alone could earn $500–$1,000 in the first 6 months.
Avion is Canada's most flexible bank-branded travel rewards program. Points transfer to British Airways Avios, American Airlines AAdvantage, WestJet, and are bookable through the Avion Travel portal. Outstanding for international travel maximizers.
No annual fee. 2% cash back in two chosen categories (groceries, gas, restaurants, drugstores, entertainment, etc.) and 0.5% everywhere else. One of Canada's best no-annual-fee credit cards. For everyday household spending, this card consistently beats most $120+ annual fee cards in net value for the average Canadian.
RBC wins for premium travel rewards. Tangerine wins for no-fee household cash back.
RBC has full in-branch mortgage advisory. Tangerine offers digital mortgages at competitive rates. Both participate in FHSA and RRSP Home Buyers' Plan. For first-time buyers, RBC's in-person guidance is valuable. For renewals, compare Tangerine's digital rate against RBC before committing.
Tangerine wins — free unlimited vs $203/year.
RBC wins — Avion is unmatched.
Tangerine wins — Money-Back Card is best-in-class.
RBC wins — InvestEase.
Tangerine wins — 10x higher + promos.
RBC wins — 1,200 branches.
For even more value on everyday spending, KOHO earns up to 5% cash back with no annual fee and pays 3%–5% interest on your balance — no promotional games required.
Get KOHO Free — Code BREMO2026Referral code BREMO2026 applied automatically.
Choose RBC if you value the Avion travel rewards program, need in-person banking with 1,200 branches, want a robo-advisor, or are a first-time buyer who needs mortgage advisory.
Choose Tangerine if you bank digitally, want to eliminate $200/year in fees, want a no-fee credit card that earns 2% on groceries/gas, and want better savings rates.
The optimal strategy for many Canadians: keep RBC for the Avion credit card and investing — move chequing and savings to Tangerine to eliminate fees and earn more interest.