Chequing account · Royal Bank of Canada
RBC VIP Banking: fees and true cost
Royal Bank of Canada’s RBC VIP Banking charges $30.00/mo, no balance waiver, with unlimited transactions. For our “Everyday” example that comes to $360 a year, #18 of 33 chequing accounts offered nationwide.
CDICOffered in all ten provinces
Fees retrieved November 1, 2026
What it would cost you in a year
| Usage | Fees a year | Why | Rank |
|---|---|---|---|
| Light Mostly card and app, small balance | $360 | Monthly fee $30.00 | 29 of 33 |
| Everyday Household account, a few e-Transfers | $360 | Monthly fee $30.00 | 18 of 33 |
| Heavy Lots of card, bill and e-Transfer payments | $360 | Monthly fee $30.00 | 18 of 33 |
| Branch and cheques Teller visits, cheques, paper statement | $360 | Monthly fee $30.00 | 23 of 26 |
Try your own numbers in the true-cost finder.
Every fee FCAC lists for this account
| Item | Fee |
|---|---|
| Monthly fee | $30.00/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 | No extra fee |
| ATM withdrawal in other countries | No extra fee |
| Debit purchase in the United States | No extra fee |
| In-branch withdrawal | No extra fee |
| Bill payment in branch | No extra fee |
| Cheque (as a payment) | No extra fee |
| Mailed monthly statement | No extra fee |
| Non-sufficient funds (NSF) | $10.00 |
| Overdraft protection, monthly | No extra fee |
| Overdraft protection, per use | No extra fee |
| Overdraft interest | 22% a year |
Notes from the institution
With RBC VIP Banking, you get 3 additional bank accounts, refunds on Interac access fees to non-RBC Royal Bank® ATMs, unlimited Interac e-Transfers, plus savings on the annual fee of an eligible credit card. It’s banking for two, in one great package. - 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 ($7.50 off $30.00) | $22.50 | 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
- Wealthsimple Chequing (Wealthsimple) — $0 a year
- Personal Account (EQ Bank) — $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 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
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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