Flexible, convenient banking services when and where you choose
RBC Royal Bank® is committed to providing you with a range of personal and business banking services that offer flexibility, convenience, value and choice. To do this, we review our service fees and features annually to provide the best possible balance and ensure you receive value for your money.
Effective July 1, 2006, the following pricing changes will be introduced. This may be a good time to review your current personal or business banking requirements to make sure you have the right combination of services to meet your needs. We will be happy to discuss the options that are right for you.
Personal banking packages, fees and services
Business banking packages, fees and services
Both personal and business banking packages, fees and services
Learn more about our personal and business banking packages
Personal banking packages, fees and services
The following fees and features take effect on July 1, 2006:
Better value with RBC No Limit Account
RBC No Limit Account™ is a new everyday banking package offering unlimited debit transactions for a monthly fee of $11.95.
Signature Plus Flat Fee Option Large
The Signature Plus® Flat Fee Option Large account - $9 a month with 40 debit transactions - will no longer be available. Clients with this banking package will automatically be switched to the enhanced RBC No Limit Account, which will include unlimited debit transactions for a monthly flat fee of $11.95.
Clients who choose alternative products or opt out of this service within 90 days of the change will be refunded the fee difference.
Account closures
A fee of $15 applies when closing an account that has only been opened between 16 and 90 days. The fee doesn't apply if the balance is transferred to another RBC account.
Assisted transactions
Assisted transactions are cheques, in-branch bill payments, withdrawals and transfers, and RBC ATM bill payments with a payment stub.
Assisted transaction fees are $1 for the Signature Plus, Bankbook Chequing and Bonus Savings accounts; and $1.50 for the Calculator Plus and Royal Money Maker Plus® accounts.
There will be no change to the transaction fees in the following accounts: Leo's Young Savers Account®, Student Banking, Royal Certified Service®, RateLink®, Royal V.I.P. Service®, U.S. Personal Account™ and Private Banking.
Transactions included in banking packages
Our flat-fee banking packages include both assisted and electronic/self-serve transactions1.
Signature Plus Flat Fee Option Small includes 15 transactions with a maximum of four assisted for a $4 monthly fee.
Signature Plus Flat Fee Option Medium includes 25 transactions with a maximum of six assisted for a $6 monthly fee.
Excess transactions on Flat Fee Option Small and Medium will cost $0.50 for electronic/self-serve transactions and $1 for assisted transactions.
Bankbook for pay-as-you-go Signature Plus, Calculator Plus, Royal Money Maker Plus and U.S. Personal accounts
A monthly fee of $2 applies to pay-as-you-go Signature Plus, Calculator Plus, Royal Money Maker Plus and U.S. Personal accounts when a bankbook has been selected as the recordkeeping option. This fee is waived for banking packages and the Leo's Young Savers Account.
Safe deposit boxes
The annual rental fee for all small safe deposit boxes - types 1, 3, 5, 6 and 9 - will be $402 plus GST.
Royal Credit Line (RCL)
An over-limit fee of $20 applies each time a RCL is over its credit limit (as of the RCL statement date).
For clients with an RBC Homeline Plan™, this fee applies to the Primary RCL (as of the RBC Homeline Plan statement date).
A fee of $35 is charged on a RCL cheque that does not clear due to insufficient available credit.
Visa* co-applicant cards
An annual co-applicant card fee of $30 US applies to US Dollar Visa Gold cards.
An annual co-applicant card fee of $40 applies to RBC® Rewards Visa‡ Preferred and RBC® Rewards Visa‡ Preferred cards.
1 Electronic/self-serve transactions are RBC ATM withdrawals, transfers and paperless bill payments; Online and Telephone Banking debits and transfers; pre-authorized payments; and Interac** Direct Payment purchases.
2 Existing small safe deposit boxes will be charged the new fee upon payment of the next rental fee.
Business banking packages, fees and services
The following fees and features take effect on July 1, 2006:
Night and Day deposit
The annual fee for the Night and Day deposit has been reduced to $25 per client, per location.
Electronic transactions
We are reducing the fee for electronic debit and credit transactions to $0.65 for most of our business accounts.
Regular (paper-based) transactions
A fee of $0.85 applies to all regular (paper-based) debit and credit transactions, including transfer debits.
Items on deposit
A fee of $0.18 applies to each item on deposit to a Canadian-dollar account.
Cash deposited
A fee of $2.15 per $1,000 cash deposited applies to business deposit accounts.
US Par Crossing Service
A monthly fee of $25 applies to all U.S.-dollar accounts enrolled in this service, which enables cheques to be cleared in the United States.
Outgoing wire payments
A minimum service fee of $45 applies to all outgoing wire payments initiated from client instructions where the authorized signing authority of the client is not present (e.g. payments by mail, courier).
Both personal and business banking packages, fees and services
The following fees and features take effect on July 1, 2006:
Drafts and money orders
For RBC clients, a fee of $6.50 applies to all drafts and money orders.
An inactive fee of $20 per year applies to all accounts after two years of inactivity and up to eight years of inactivity. A notice will be sent in years two and five.
Waived for Leo's Young Savers Account. Waived if notice is acknowledged within 30 days of mailing date or if account is reactivated within a specified time period.
A dormant account fee of $40 applies to all accounts after nine years of inactivity.
Incoming wire payments
A fee of $15 applies to all incoming wire payments over $50 from any financial institution other than an RBC Royal Bank unit located in Canada.
Cheques written in a foreign currency
A fee of $15 applies to each cheque written in a currency other than that of the account from which the cheque is drawn3.
Collections
A collection fee of 0.3% applies to the amount of the collection item, a minimum of $30 to a maximum of $150.
Chargebacks
A chargeback fee of $7 applies to deposited items returned unpaid.
The hold period for any cheques drawn on a U.S. bank and deposited at a branch in Canada will be reduced from 25 to 15 business days. Cheques drawn on a U.S. bank and deposited at an ATM in Canada will continue to be held for 25 business days.
3 The fee will be collected in the currency of the account from which the cheque is drawn.
Learn more about our personal and business banking packages
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® Registered trademarks of Royal Bank of Canada. RBC Financial Group, RBC and Royal Bank are registered trademarks of Royal Bank of Canada.
™ Trademarks of Royal Bank of Canada.
* Registered trademark of Visa International Service Association. Used under license.
** Interac is a registered trademark of Interac Inc. Royal Bank of Canada is a registered user of this trademark.
Note: Service fee changes are also applicable to personal accounts offered by Royal Trust Corporation of Canada and The Royal Trust Company.