Chequing account · Royal Bank of Canada
Royal Bank of Canada RBC Advantage Banking: fees and true cost
Royal Bank of Canada’s RBC Advantage Banking charges $12.95/mo, no balance waiver, with unlimited transactions. For our “Everyday” example that comes to $155 a year, #7 of 33 chequing accounts offered nationwide.
CDICOffered in all ten provinces
Fees retrieved November 1, 2026
Mitey tallies a year of Royal Bank of Canada’s RBC Advantage Banking: $155 for the Everyday profile.
How much does RBC Advantage Banking from Royal Bank of Canada cost a year?
For a typical household (43 transactions and a $1,000 low balance a month), RBC Advantage Banking costs $155 a year, #7 of 33 chequing accounts offered nationwide. The monthly fee is $12.95. Cheaper for the same banking: Personal Account at EQ Bank ($0). Eligible deposits are insured by CDIC up to $100,000 per category.
Who does Royal Bank of Canada RBC Advantage Banking suit?
- Best fit: the Everyday profile (household account, a few e-transfers), where it ranks #7 of 33 chequing accounts offered nationwide. It costs most for the Branch and cheques profile: $191 a year.
- Allowance: unlimited everyday transactions, so heavier use doesn’t add fees.
- Versus the cheapest: for everyday use it costs $155 a year more than Personal Account (EQ Bank), $777 over five years.
What would it cost you in a year?
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $155 | Monthly fee $12.95 | 15 of 33 |
| Everyday Household account, a few e-Transfers | $155 | Monthly fee $12.95 | 7 of 33 |
| Heavy Lots of card, bill and e-Transfer payments | $155 | Monthly fee $12.95 | 7 of 33 |
| Branch and cheques Teller visits, cheques, paper statement | $191 | Monthly fee $12.95 | 9 of 26 |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $12.95/mo, no balance waiver |
| Included transactions | Unlimited |
| Debit purchase in Canada (beyond included) | No extra fee |
| Online or mobile bill payment | No extra fee |
| Interac e-Transfer | No extra fee |
| Online transfer between your accounts | No extra fee |
| Own-bank ATM withdrawal | No extra fee |
| Withdrawal at another institution’s ATM | No extra fee |
| ATM withdrawal in the United States | $3.00 |
| ATM withdrawal in other countries | $5.00 |
| Debit purchase in the United States | $1.00 |
| In-branch withdrawal | No extra fee |
| Bill payment in branch | No extra fee |
| Cheque (as a payment) | No extra fee |
| Mailed monthly statement | $3.00 |
| Non-sufficient funds (NSF) | $10.00 |
| Overdraft protection, monthly | $5.00 |
| Overdraft protection, per use | No extra fee |
| Overdraft interest | 22% a year |
Notes from the institution
Additional Benefits also include: Access to the Value Program
Lower prices for some customers
| Who | Monthly fee | Source |
|---|---|---|
| Seniors Rebate, age 65 or older ($4.00 off $12.95) | $8.95 | Royal Bank of Canada |
| Age 24 and under OR full-time post-secondary student (fee waived) | No monthly fee | Royal Bank of Canada |
| Fee waived for first 12 months | No monthly fee | Royal Bank of Canada |
Is the money protected?
CDIC member. Eligible deposits are covered up to $100,000 per category at each CDIC member — see the deposit safety tool.
Cheaper for everyday use, at other institutions
- Personal Account (EQ Bank) — $0 a year
- Wealthsimple Chequing (Wealthsimple) — $0 a year
- Neo Chequing account (Essentials) (Neo Financial) — $0 a year
Other chequing accounts at Royal Bank of Canada
- RBC Day to Day Banking — $4.00/mo, no balance waiver
- RBC Leo's Young Savers Account — No monthly fee
- RBC Signature No Limit Banking — $16.95/mo, no balance waiver
- RBC VIP Banking — $30.00/mo, no balance waiver
Source: FCAC Account Comparison Tool (data submitted by the institution), retrieved November 1, 2026 · Royal Bank of Canada’s product page
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