RBC at a Glance
| Feature |
Details |
| Founded |
1869 |
| Headquarters |
Toronto, Ontario |
| Branches |
1,200+ |
| ATMs |
4,500+ |
| Assets |
$2+ trillion |
| CDIC insured |
✅ Yes |
| Mobile app rating |
4.7/5 (iOS) |
Chequing Accounts
| Account |
Monthly Fee |
Fee Waiver (Min Balance) |
Transactions |
E-Transfers |
| Day to Day |
$4 |
$1,500 |
12/month |
$1.50 each |
| No Limit Banking |
$11.95 |
$3,500 |
Unlimited |
Unlimited |
| VIP Banking |
$16.95 |
$6,000 |
Unlimited |
Unlimited |
| Signature No Limit |
$30.95 |
$10,000 |
Unlimited |
Unlimited |
Savings Accounts
| Account |
Interest Rate |
Minimum Balance |
| High Interest eSavings |
~4.0% (promo) / ~1.5% regular |
$0 |
| Day to Day Savings |
0.01% |
$0 |
Credit Cards
| Card |
Annual Fee |
Key Benefit |
| RBC Avion Visa Infinite |
$120 |
1 Avion pt/$1, travel rewards |
| RBC Cash Back Mastercard |
$0 |
2% groceries, 0.5% other |
| RBC ION Visa |
$0 |
1% cash back/points |
| RBC Avion Visa Infinite Privilege |
$399 |
Premium travel, lounge access |
Investing & Wealth Management
| Service |
Details |
| RBC Direct Investing |
Self-directed trading platform |
| RBC InvestEase |
Robo-advisor ($10K minimum) |
| RBC Global Asset Management |
Mutual funds and ETFs |
| Stock trading fee |
~$9.95/trade (standard) |
Pros and Cons
| Pros |
Cons |
| Largest branch/ATM network |
Higher monthly fees than competitors |
| Comprehensive product suite |
Savings rates below online banks |
| Strong mobile app |
Stock trading fees above discount brokers |
| Mortgage integration |
E-transfer fees on basic plans |
| Multi-product rebate |
No free chequing option |
RBC vs Big 5 Banks
| Feature |
RBC |
TD |
BMO |
Scotiabank |
CIBC |
| Branches |
1,200+ |
1,100+ |
900+ |
950+ |
1,000+ |
| Basic chequing fee |
$4 |
$3.95 |
$4 |
$3.95 |
$4.95 |
| Free with balance |
$1,500 |
$2,000 |
$1,500 |
$2,000 |
$1,000 |
| Mobile app (iOS) |
4.7 |
4.7 |
4.7 |
4.6 |
4.6 |
Who Should Bank with RBC
| Profile |
Recommendation |
| Value in-person banking |
✅ Best branch network |
| Want everything under one roof |
✅ Banking, investing, mortgage |
| Student |
✅ Good student account |
| Want lowest fees |
❌ Choose EQ Bank, Tangerine, Simplii |
| Want best savings rate |
❌ Online banks offer 4%+ |