Chequing account · Royal Bank of Canada
Royal Bank of Canada RBC Day to Day Banking: fees and true cost
Royal Bank of Canada’s RBC Day to Day Banking charges $4.00/mo, no balance waiver, with 12 a month transactions. For our “Everyday” example that comes to $402 a year, #22 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 Day to Day Banking: $402 for the Everyday profile.
How much does RBC Day to Day Banking from Royal Bank of Canada cost a year?
For a typical household (43 transactions and a $1,000 low balance a month), RBC Day to Day Banking costs $402 a year, #22 of 33 chequing accounts offered nationwide. The monthly fee is $4. 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 Day to Day Banking suit?
- Best fit: the Light profile (mostly card and app, small balance), where it ranks #10 of 33 chequing accounts offered nationwide. It costs most for the Heavy profile: $831 a year.
- Allowance: 12 transactions a month; each one beyond that costs $1.25, so 10 more a month adds $150 a year.
- Versus the cheapest: for everyday use it costs $402 a year more than Personal Account (EQ Bank), $2,010 over five years.
What would it cost you in a year?
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $108 | Monthly fee $4.00; extra transactions $5.00/mo | 10 of 33 |
| Everyday Household account, a few e-Transfers | $402 | Monthly fee $4.00; extra transactions $27.50/mo | 22 of 33 |
| Heavy Lots of card, bill and e-Transfer payments | $831 | Monthly fee $4.00; extra transactions $61.25/mo | 22 of 33 |
| Branch and cheques Teller visits, cheques, paper statement | $213 | Monthly fee $4.00; extra transactions $13.75/mo | 11 of 26 |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $4.00/mo, no balance waiver |
| Included transactions | 12 a month |
| Debit purchase in Canada (beyond included) | $1.25 |
| Online or mobile bill payment | $1.25 |
| Interac e-Transfer | No extra fee |
| Online transfer between your accounts | $1.25 |
| Own-bank ATM withdrawal | $1.25 |
| Withdrawal at another institution’s ATM | $2.00 |
| 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 | $1.25 |
| Bill payment in branch | $1.25 |
| Cheque (as a payment) | $1.25 |
| Mailed monthly statement | No extra fee |
| 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
The monthly fee for the RBC Day to Day Banking Account after rebates and waivers will be $0.00 for: Seniors Rebate for 65+, Indigenous Peoples, and Registered Disability Savings Plan (RDSP) Beneficiaries. Included Debit Transactions per Month: 12 debits of any kind, plus unlimited e-Transfers, self-serve transfers, Public Transit and Virtual Visa Debit transactions. Overdraft Protection Per occurrence fee of $5.00 is subject to certain exceptions.
Lower prices for some customers
| Who | Monthly fee | Source |
|---|---|---|
| Seniors Rebate, age 65 or older, automatic ($4.00 rebate on $4.00 fee) | 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 Advantage Banking — $12.95/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
Educational information only, not financial, legal or tax advice. CanadianBanks.ca is independent and is not affiliated with, endorsed by or paid by any institution listed. Confirm details with the institution and the official sources linked on each page before you act. Read the full disclaimer.