RBC Royal Bank
To determine if RBC chequing accounts are right for you, compare their offerings and fees to other providers. RBC chequing accounts have no required minimum balance and provide you with unlimited Interac e-Transfers. Royal Bank customers can also download the RBC Mobile app to manage every day personal banking needs and the RBC Wallet app to make payments from their phone.
Royal Bank also offers a MultiProduct Rebate which can reduce your monthly fees to zero depending on the number and types of accounts you hold with them. For example if you have an RBC credit card and an RBC investment account, you can get the RBC Day to Day Banking chequing account for $0 a month. If you have an RBC credit card, an RBC investment account and a mortgage with RBC, you then qualify for the RBC No Limit Banking chequing account for $0 a month. They also offer reduced monthly fees for seniors.
RBC VIP Banking
The RBC VIP Banking account has the most features among RBC chequing accounts, and therefore has the highest monthly cost. The RBC VIP Banking account includes unlimited debits in Canada and the U.S., unlimited access to Non-RBC Royal Bank ATMs, and unlimited Interac e-Transfers. The account also optionally includes a credit card (you are eligible to have the annual fee fully or partially rebated depending on the card you select), overdraft protection and additional accounts (the fees are waived for up to two Canadian dollar and one U.S. dollar accounts).
If you are a frequent traveller to the U.S. this would be the best RBC chequing account as it's the only one that offers unlimited debits in the U.S. Also if you have a tendency to use any ATM rather than RBC's, this account allows you to do that at no additional cost. To pay the lowest fees for this account you must have a credit card, investment account and mortgage with RBC.
RBC Signature No Limit Banking
The RBC Signature No Limit Banking account includes unlimited debits in Canada, up to 3 Non-RBC ATM transactions per month (after 3, you will have to pay $1.50 per transaction), and unlimited Interac e-Transfers. The account also includes an optional credit card (full or partial annual fees will be waived depending on the credit card selected) and overdraft protection. To pay the lowest monthly fees for this account you must also have an RBC credit card, investment account and mortgage.
RBC No Limit Banking
The RBC No Limit Banking account has fewer features than the RBC Signature No Limit Banking account, but has a lower monthly fee and allows you unlimited debits in Canada and unlimited Interac e-Transfers. If you use Non-RBC Royal Bank ATMs you will be charged $1.50 per transaction. This account is good if you are a student or senior and already have an RBC credit card and investment account since your monthly fee would be $0 after the MultiProduct Rebate.
RBC Day to Day Banking
Royal Bank's most basic chequing account offering is the RBC Day to Day Banking account. With this account you get 12 included debits per month (a $1 transaction fee is charged for each debit thereafter), and unlimited Interac e-Transfers. To get this account's monthly fee waived you need to have an RBC credit card and investment account.