For full-time students, the RBC Advantage Banking for students account gives you everything you need for day-to-day banking. It’s basically the same as the popular RBC Advantage Chequing Account, but with one big perk: there are no monthly banking fees as long as you’re a full-time student. That’s extra money in your pocket for books, coffee, or the occasional late-night pizza.
On top of that, RBC has partnered with Petro-Canada to help you save on gas, making it a practical perk for students who drive. Combined with RBC’s extensive branch and ATM network across Canada, this account makes it easy to manage your everyday spending wherever you are: at school, in your hometown, or in a new city.
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RBC Advantage Banking for students features
Below is an overview of the main features you'll find with the RBC Advantage Banking for students:
Verified on August 29, 2025
Why You Want It
A full featured bank account for students with no monthly fees.
Special Features
- Earn Avion points on debit purchases
- Save on fuel at Petro-Canada locations
Eligibility
- Be at least 13 years of age
- Enrolled as a full time student.
Provinces
ALL
Features
Minimum Balance To Waive Fee
$0
# Of Free Monthly Transactions
Unlimited
# Of Free Monthly Interac E-Transfers
Unlimited
Monthly Fee
$0.00
Excess Transaction Fee
$0.00
Excess Interac E-Transfer Fee
$0.00
Maximum Credit Card Annual Fee Waiver
N/A
Maximum Welcome Bonus
$100
Promo End Date
November 03, 2025
Physical Locations
Automatic Budgeting System
Minimum Interest Rate
0%
Earn Rewards On Debit Purchases
Free Cheques
Free Bank Drafts
Max Rebates For Other Accounts
See Issuer for Details
Discounts For Seniors
Discounts For Youth
Other Discounts
RBC Advantage Banking for students product rating: 3.9 stars
The RBC Advantage Banking for students gets you unlimited transactions, free Interac e-Transfers, and even offers rewards on debit purchases.
The only thing to note is that once you cease to be a full-time student, you'll automatically be switched to a RBC Advantage Chequing Account and will then start paying a monthly fee of $12.95.
Learn more about our rating methodology.
The pros of RBC Advantage Banking for students
Here's what this bank account has to offer students.
Pros
Earn Avion points on purchases
Not many bank accounts offer rewards when making purchases with a debit card. But RBC is one of the rare few. Enroll in the RBC Value Program and you'll earn a minimum of 1 point for every $10 spent.
No ATM fee at non-RBC bank machines
Need some quick cash but an RBC bank machine isn't around? RBC won't charge you a fee for using one – but remember, the ATM supplier might.
Unlimited transactions and Interac e-Transfers
As a student, your debit card might be the primary way you pay for purchases. And with this account, you get unlimited debit transactions and free Interac e-Transfers.
Welcome bonus
This account also comes with a great welcome bonus: free AirPods, currently available until November 3, 2025. All you have to do is complete two of the following by January 20 2026: 1) Set up and receive a recurring direct deposit, 2) Set up and make 1 pre-authorized payment, 3) Complete 1 bill payment, 4) Register for Interac Autodeposit and send one e-Transfer, or 5) Sign up for a Virtual Visa Debit Card and make one transaction.
The cons of RBC Advantage Banking for students
There isn't much to quibble with, but here are some things to keep in mind with this account.
Cons
Only available to full-time students
You have to be a full-time student to be eligible for this account, being a part-time student won't cut it. To qualify, you'll need to be taking at least 60% of the usual course load of your program. RBC may also request proof of your enrollment at their discretion.
Automatic changeover to the RBC Advantage Chequing Account
You can only have this version of the account if you're a student. Once you're not, you'll be charged the monthly fee of the RBC Advantage Chequing Account, which is $12.95.
RBC Advantage Banking for students alternatives
Curious how this account compares to others? Here's a quick look at how it stacks up against other student bank accounts:
 |  | |  | |
|---|---|---|---|---|
| Account | RBC Advantage Banking for students | BMO Performance Chequing Account | BMO Premium Chequing Account | TD Unlimited Chequing Account |
| Genius Rating | ||||
| Why You Want It | A full featured bank account for students with no monthly fees. |  $75 GeniusCash + Up to $700 in welcome bonuses + up to 4.6% interest on Savings Amplifier account. *T&Cs apply. | $75 GeniusCash + $700 welcome bonus and up to 4.6% interest on Savings Amplifier account. *T&Cs apply. | $139 credit card fee waiver + Unlimited transactions and e-Transfers. |
| Minimum Balance To Waive Fee | $0 | $4,000 | $6,000 | $4,000 |
| # Of Free Monthly Transactions | Unlimited | Unlimited | Unlimited | Unlimited |
| # Of Free Monthly Interac E-Transfers | Unlimited | Unlimited | Unlimited | Unlimited |
| Monthly Fee | $0.00 | $17.95 | $30.95 | $17.95 |
| Excess Transaction Fee | $0.00 | N/A | N/A | N/A |
Show More | ||||
| Open an account See more RBC products Compare | I Want This Deal See more BMO products Compare | I Want This Deal See more BMO products Compare | Learn More See more TD products Compare |
FAQ
Does the RBC Advantage Banking for students have a monthly fee?
The RBC Advantage Banking for students has no monthly fee as long as you're a full-time student. However, once you're finished school and your account automatically changes to the RBC Advantage Chequing Account, the monthly fee is $12.95.
What are some of the benefits of the RBC Advantage Banking for students?
The RBC Advantage Banking for students has several benefits, including earning Avion points on debit purchases and getting unlimited free transactions. Interac e-Transfers are also free and unlimited, making this a very convenient account for spending.
What is required to get the RBC Advantage Banking for students?
To get the RBC Advantage Banking for students you need to be at least 13 years of age and meet the requirements of being a full-time student. RBC may ask to see proof of enrollment when you apply.
Rating methodology
To get our Genius Rating, we compare the features of this account to other similar accounts in Canada. We then score each feature out based on that comparison of features. We rank these numbers through our algorithm which produces an overall rating of 5.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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