RBC has a range of chequing accounts that you can choose from with different features. However, the bank offers a few facilities with all of them such as no limit Interac e-Transfers and the availability of the RBC Mobile app to conduct day to day transactions. You can use your phone to make payments via the RBC Wallet app. Should you choose to open a RBC chequing account, you won’t need to maintain a minimum balance.
By choosing to maintain multiple chequing accounts of various types, you can avail of the MultiProduct Rebate that waives your monthly fees entirely. For instance, by combining an RBC investment account with an RBC credit card, you can use the RBC Day to Day Banking chequing account at no charge. Further, a package of a mortgage with RBC, RBC investment account, and RBC credit card entitles you to a RBC No Limit Banking chequing account at no monthly charge. Senior citizens can avail of low monthly charges too.
RBC VIP Banking
Owning an RBC VIP Banking account costs you the highest monthly charge but also offers more features than any other chequing account. However, you can qualify for significant discounts on the fee if you also have a mortgage, investment account, and credit card with RBC. This account is ideal if you visit the U.S. often. Here are the features:
No limit on the deposits in Canada or the U.S.
No limit on the number of transactions at external ATMs in the U.S.
Option of buying a credit card. Depending on card type, you can have the annual fee waived partially or entirely.
No fee on up to one U.S. and two Canadian currency accounts
RBC Signature No Limit Banking
You can avail of rebates on the fee if you also have a mortgage, investment account, and RBC credit card. Here are the other features:
No limit on number of deposits in Canada
3 no-cost transactions through external ATMs. Additional transactions cost you $1.50 each.
No limit on Interac e-Transfers
Option of buying a credit card and the possibility of having the fee waived in part or full depending on the category of the card.
RBC No Limit Banking
This account is beneficial for senior citizens and students because of its lower monthly charge. However, it also has fewer features. By combining an investment account and credit card with your account, you can avail of the waived monthly charges. Here are the features:
No limit on deposits in Canada
No limit on the number of Interac e-Transfers
Charges of $1.50 payable per transaction conducted through external ATMs.
RBC Day to Day Banking
To have your monthly charges waived for this account, you can combine it with an investment account and RBC credit card. Here are the other features:
No limit on the Interac e-Transfers
12 no-cost deposits per month. All subsequent deposits are chargeable at $1 per transaction.