Royal Bank of Canada

Royal Bank of Canada

 3.7/5 (580 reviews)
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Overall Rating3.7 out of 5
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About Royal Bank of Canada

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Royal Bank of Canada (RBC) is one of the largest banks in Canada based on asset size. It’s a multinational financial services company that operates in 29 countries, providing a wide range of banking services to over 17 million customers, including bank accounts, credit cards, mortgages, loans, investments and more.

Pros & Cons


  • Global financial institution
  • Full-service banking
  • Good customer service


  • Fees can be expensive
  • May not have the best interest rates

Bottom Line

RBC is a good option for Canadians looking for a wide range of financial products and services. However, some of its bank account fees can skew higher than other financial institutions.

Top Royal Bank of Canada Reviews


If you are talking about my bank... the Royal Bank... I have been a customer for 30 years.. They are amazing! They have always been very friendly and helpful.. This is why I stay ...

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I have been using this bank for over 35 years and only had a couple of issues that were taken care of swiftly and with the most upmost care and helpfulness. The thing I love about...

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What is Royal Bank of Canada?

RBC was founded in 1864 in Halifax, Nova Scotia. Today, it’s headquartered in Toronto, Ontario, where it serves over 17 million clients across 29 countries, including Canada and the U.S. It’s also one of the largest employers in Canada, with over 97,000 employees worldwide.

RBC is a good choice for Canadians who are looking for a multinational bank that offers a variety of services.

How does Royal Bank of Canada work?

RBC’s personal and business bank accounts include checking, savings and investment accounts. Depending on your needs, you can choose an account with no monthly fees or one that offers additional features such as unlimited transactions, overdraft protection and premium interest rates.

With RBC’s online banking services, you can access your accounts, pay bills, transfer funds and more from your computer or mobile device. You can also download the RBC mobile banking app to manage your finances on the go.

RBC is a member of the Canada Deposit Insurance Corporation (CDIC), which means that depositors' money is insured up to $100,000.

Royal Bank of Canada products and services

With RBC, you’ll find these financial products:

RBC offers a range of checking accounts to suit different needs, from a Day to Day Banking account that covers the essentials to a VIP Banking account that comes with unlimited debits worldwide.

All checking accounts have monthly fees ranging from $4 to $30. However, you might qualify for certain rebates if you’re a student, senior or member of RBC’s Value Program.

RBC has several cross-border checking and savings accounts for Canadians who live or work in the U.S. These accounts feature instant transfers between the U.S. and Canada, as well as access to over 50,000 U.S. ATMs.
RBC offers several savings account options, including the High Interest eSavings account, which has no monthly fee and earns a competitive interest rate of 4.60% at publishing.
RBC offers a range of investment accounts, including registered retirement savings plans (RRSPs), tax-free savings accounts (TFSAs) and non-registered investment accounts.
RBC offers a variety of credit cards, including:
  • Travel rewards credit cards
  • Cashback credit cards
  • Low-interest rate credit cards
  • Student credit cards
  • Business credit cards

Each type of credit card has its own features, benefits and fees. You can compare the different types of credit cards on RBC’s website to find the one that best suits your needs.

RBC provides mortgage options for homebuyers, including fixed- and variable-rate mortgages, as well as cashback mortgages and a home equity line of credit (HELOC).
With RBC, customers will find personal loans, lines of credit, car loans and business loans all designed to help customers achieve their financial goals.

Royal Bank of Canada fees

RBC checking account fees range from $3 to $30 and come with anywhere from six to unlimited debit transactions per month. Savings accounts don’t have a monthly fee but only come with one debit transaction per month before a fee kicks in. The kids' savings account comes with 15 free debits.

Here’s a list of common RBC fees:

  • $1.25 to $5 for excess debit transactions, depending on the account
  • $2.00 for Interac access, depending on the account
  • $3 for Plus Access within the U.S. or Canada
  • $5 for Plus Access outside the U.S. or Canada
  • $1 for cross border debits
  • $9.95 for drafts
  • $12.50 for self-serve stop payments
  • $25 for assisted stop payments

Royal Bank of Canada FAQ

Are there any Royal Bank of Canada branches in the U.S.?

Yes, there are Royal Bank of Canada branches in these U.S. states: Arizona, California, Colorado, Delaware, Florida, Georgia, Illinois, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and Washington state.

Does RBC have any kids’ bank accounts?

Yes. RBC has a Leo’s Young Savers Account designed for those age 13 and younger. It also has an RBC Advantage Banking account for students aged 13 and over.

What are RBC Rewards?

RBC offers a rewards program called Avion Rewards, formerly RBC Rewards, that allows customers to earn points on eligible purchases made with their RBC credit cards. These points can be redeemed for a variety of rewards, including travel, merchandise, gift cards and cash back.

What is RBC Vantage?

RBC Vantage is a program that offers a variety of benefits to RBC customers, including waived fees, Avion points on purchases, discounts on gas and other services and personalized insights. To qualify for RBC Vantage, you must have an eligible RBC bank account.

Is Royal Bank of Canada legit?

Yes, Royal Bank of Canada is a legitimate bank. It’s one of the Big Six banks in Canada, and it’s a member of the CDIC, which protects depositors up to $100,000 in the event of a bank failure. RBC has a long history of providing banking services to Canadians and is a good choice for anyone who’s looking for a global bank with a full suite of banking products.

Royal Bank of Canada Reviews

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Page 1 Reviews 0 - 10
Verified Reviewer
Original review: June 2, 2023

Very bad service either online or in branch. Finally, I transferred all my accounts out of it. Don't want deal with them anymore. Very rude phone answering, long waiting time. Make you wait and transfer to many different people with no correct answer.

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Verified Reviewer
Original review: April 8, 2023

The RBC is worst bank I have dealt with in my life. There are so many things wrong with this bank I don’t know where to start. I’m in the process of getting another Bank. I will tell one story out of so many. Last year I couldn’t get into my account App on iPhone. I called the number displayed in the error screen. I was told that my account had been hacked into and there was many attempts to withdraw money via email transfer. I was told several things to do with my phone because of potential hackers. My account did have one successful withdrawal of $150.00. That withdrawal took months to finally retrieve my money. I am a Microsoft System Engineer since 1995 and RBC is one of the most targeted bank in Canada. The problem is theirs and not mine. I have had my account since the 80’s. I have heard so many bad stories about RBC that I’m glad to say I will be rid of them this year.

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    Verified Reviewer
    Original review: March 26, 2023

    I have been a loyal Royal Bank customer for almost 50 years, but their actions this last week make me question their honesty and commitment to satisfactory customer service. My wife made a deposit of over 300,000 dollars of her inheritance to her savings. Understandably the bank put a 15 days hold for the cheque to clear. After 10 days RBC removed the deposit amount plus almost 5,000 more from the account. No one at either the phone centre or the branch can find out what happened, why or where it went. We physically went to our home branch, and no one there could answer or questions where this inheritance plus 5,000 went or was able rectify the issue. We have filed a complaint and the branch is investigating, but as soon as this issue is resolved to our satisfaction we will be taking our business elsewhere.

    5 people found this review helpful
    Verified Reviewer
    Original review: March 15, 2023

    I've RBC Small Business Account and the funny thing is they do NOT allow me to make online transaction (CRA) payment more than 2,000. Instead I need to subscribe for the CRA service which will cost 25$ and every month from that time onwards 2 dollars will be charged. It looks funny for me the way how they try to make money.

    3 people found this review helpful
    Verified Reviewer
    Original review: March 9, 2023

    I needed cash for a home improvement project (cash would save me $1500 on the project), yet had to wait for over twenty minutes because, the teller told me, she needed the manager’s approval to dispense this amount of cash ($9,000), and he was on the phone. Finally, she sent a teller to talk to the manager, and I followed him. Your very young junior manager (who only gave me his title, while proudly announcing he’d been in banking for three years) was not on the phone—he was chatting with another bank employee. I asked him to please approve my withdrawal. He was clearly upset at being caught chit-chatting, and proceeded to tell me that he had to protect me from fraud and asked why I needed the money. Obviously, this was just sexist nonsense, and was simply a ruse to cover his embarrassment at being caught dallying, while customers were waiting.

    To shorten a long story, things went from bad to worse, and your very young junior manager announced that I had to sign a form. I had no objection and asked for the form. Instead of retrieving it, he walked around the bank several times, doing nothing but wasting my time, until he finally announced that if I didn’t wait patiently, he was going to call the police, and have me forcibly removed from the bank. He walked to the door to indicate I should leave (without the money). At this point, I should have called in the media; instead, since it was clear I was not going to get my money, and I was just wasting more time, I left without my cash, which means I will be charged an extra $1500 by my contractors, thanks to your very young

    5 people found this review helpful
    Verified Reviewer
    Original review: March 7, 2023

    We signed the agreement new advance date to be February 27th and the first payment on March 1st. They ignored all my emails till March 2nd and then instead to pay to a mortgage they sent money to my checking account so I have to pay interest on the money that wasn't withdrawn. Very poor performance.

    2 people found this review helpful
    Verified Reviewer Verified Buyer
    Original review: March 3, 2023

    After being with this bank for 17 years, they write me a vague letter terminating all services I have with them, including my daughter’s and mother’s joint account. They wouldn’t explain why! I was told they didn’t have to provide reason. Filing a complaint did nothing. They just throw away 17 years of service without even providing a courtesy call! Goes to show that with these banks, unless you’re part of the 1%, you are easily dispensable at their choosing whenever they like! Has put a very sour taste in my mouth about investing with any Bank!!!

    2 people found this review helpful
    Verified Reviewer
    Original review: Feb. 27, 2023

    Lee ** has been my advisor for quite sometime now and she has been an amazing person. She is very pleasant to deal with and she provides all the information you need to make an informed decision. She is very professional, highly ethical and trustworthy. She is very prompt on her appointments. I am so happy that Lee is my advisor. She deserves kudos and more financial rewards as an employee.

    Thank you


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    Verified Reviewer
    Original review: Feb. 22, 2023

    I am in a Kafka-esque nightmare. A problem caused by their website that they won't take responsibility for. I have been on the phone for 4 hours... First to get a simple money transfer cleared after it was flagged (1.5 hours on hold for what could have been a simple text or email confirmation) and then dealing with a landslide of problems caused after their website caused duplicate transfers to go through (I was on the phone with an RBC person who instructed me to try again after everything was greyed out and frozen).

    They say they cannot cancel one of them even though it was caused by a problem in their system, there is no one I can talk to, and no way to get my money back. This money was to support earthquake survivors. They don't have time to deal with this on their end. While other banks are waiving international transfer fees right now, RBC is putting me through this while I try to provide urgent aid to loved ones who have lost family members and their livelihoods. I absolutely do not recommend RBC if you have any family or friends outside of Canada.

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    Verified Reviewer
    Original review: Feb. 14, 2023

    I have tried to get updated insurance for a trip booked with Reward points, about 4 hours on the phone, 3 "booked callbacks", numerous disconnects. Still nothing. This over a period of numerous days. This service is utter crap, I can only imagine if you actually need the insurance. Run very fast away. Wish they had negative review stars.

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    Royal Bank of Canada Company Information

    Company Name:
    Royal Bank of Canada