The RBC Signature No Limit Banking Account is a mid-level chequing account, offering unlimited transactions and an array of other helpful features and services. With big bank security and the ability to earn valuable Avion points, this product should be a contender for any Canadian looking for value and flexibility.
The monthly fee is a bit steep for a non-premium account, so you'll want to weigh the account benefits against its cost.
RBC Signature No Limit Banking features
Here's what you can expect from this mid-range chequing account:
Why You Want It
Free Apple Watch Series 10 + Save 3 cents per litre at Petro-Can.
Special Features
- Earn Avion points
- Up to $48 rebate on annual fee of select RBC credit cards
- Multi-product and seniors' rebates available
- Save on fuel at Petro-Canada
- Free Apple Watch Series 10 as a welcome offer
Eligibility
- At least the age of majority in your province
- Opening a sole account in your own name
- Living in Canada
Provinces
ALL
Features
Minimum Balance To Waive Fee
N/A
# Of Free Monthly Transactions
Unlimited
# Of Free Monthly Interac E-Transfers
Unlimited
Monthly Fee
$16.95
Excess Transaction Fee
N/A
Excess Interac E-Transfer Fee
N/A
Maximum Credit Card Annual Fee Waiver
$48
Maximum Welcome Bonus
N/A
Promo End Date
June 02, 2025
Physical Locations
Automatic Budgeting System
Minimum Interest Rate
N/A
Earn Rewards On Debit Purchases
Free Cheques
Free Bank Drafts
Max Rebates For Other Accounts
N/A
Discounts For Seniors
Discounts For Youth
Other Discounts
RBC Signature No Limit Banking product rating: 3.6 stars
The RBC Signature No Limit Banking Account earned 3.6 stars by providing unlimited free transactions and a few surprisingly valuable features. The credit card rebate alone can help offset a significant chunk of the monthly account fee.
Even so, premium chequing accounts offer these same features and much more, with much easier means of waiving the monthly fee.
Rating methodology
The method behind our Genius Rating is as follows: we compile a list of features for the banking product, compare its features with competing products, and then assign each feature a rating out of 5. The average of all of these individual ratings is the product's overall Genius Rating.
Learn more about our rating methodology.
The pros of RBC Signature No Limit Banking
This bank account has a several features and benefits worth mentioning:
Pros
Free Apple Watch as a welcome bonus
RBC offers an interesting and exciting alternative to the traditional cash welcome bonus: a brand new Apple Watch Series 10. You'll need to complete a few steps once your account is open, including setting up a direct deposit, setting up two monthly pre-authorized payments, and making two bill payments.
Unlimited debit transactions and Interac e-Transfers
Account holders have the freedom to spend, send, withdraw, and transfer their money as much as they want, whenever they want. Technically, there's a limit of 999 Interac e-Transfers per month, but this is more than enough for the average person.
No overdraft protection fee
Overdraft protection is included with this chequing account, giving you some very convenient flexibility. You'll coverage extends up to $5,000, which is pretty extensive – but remember that RBC's 22% overdraft interest still applies.
Free book of cheques
While cheques are used less and less these days, if you do need them, it's nice to get them for free. While many premium accounts offer free cheques, mid-level accounts like this don't typically provide them, making it a noteworthy detail.
Rebate for select RBC credit cards
If you have this account, card holders can receive a $48 annual rebate for the RBC ION+ Visa or a $39 rebate for the WestJet RBC Mastercard (and the World Elite version). Several other cards qualify for a $35 rebate, including the RBC Avion Visa Infinite and RBC US Dollar Visa Gold.
Save on fuel at Petro-Canada
When you link your RBC debit or credit card to your Petro-Points rewards account, you'll save 3 cents per litre on fuel plus earn an additional 20% rewards at Petro-Canada locations. And with the soaring costs of fuel, Canadians love an opportunity to save money at the pumps.
Earn Avion points with your debit card
If you enrol your account with the RBC Value Program, you'll get 1 Avion point for every $10 you spend with your debit card. This will increase to 1 point per $5 spent if you have 2 other products with RBC, or even 1 point per $3 if you have 3 or more products.
The cons of RBC Signature No Limit Banking
While you can't ignore the benefits of this account, the downsides are pretty significant too:
Cons
High monthly fee
At $16.95, you'll be paying almost $203 a year for this account – which is a lot, especially considering the many free chequing accounts available for Canadians. That said, you can get this fee as low as $5 if you qualify for the RBC Value program, which rewards you for having multiple RBC products.
Complicated Value Rebate Program
While many chequing accounts waive the monthly fee for clients who maintain a minimum daily balance, you'll have no such luck here. There are a few ways to get discounted fees by adding additional RBC products, but these costs are only entirely waived for seniors and newcomers.
High fees for unaffiliated ATMs
If you need to take out some cash and there isn't an RBC-affiliated ATM available, you'll face serious fees. Non-affiliate ATM withdrawals are $3 each in Canada or the U.S. and go up to $5 for machines in other countries. It's best to avoid non-affiliate ATMs altogether if possible.
RBC Signature No Limit Banking alternatives
Here's how RBC Signature No Limit Banking measures up to some similar competitors in Canada:
 |  |  |  | |
|---|---|---|---|---|
| Account | RBC Signature No Limit Banking Account | BMO Performance Chequing Account | Scotiabank Preferred Package | Coast Capital Elevate Chequing Account |
| Genius Rating | ||||
| Why You Want It | Free Apple Watch Series 10 + Save 3 cents per litre at Petro-Can. |  $50 GeniusCash + Up to $700 in cash + a Walmart Delivery Pass Subscription for up to 12 months*. *T&Cs apply. | $100 GeniusCash + Get up to a $700* welcome bonus + Earn Scene+ points on all debit purchases. | $125 GeniusCash + New members can get $400** when they open and use an Elevate Chequing Account.
|
| Minimum Balance To Waive Fee | N/A | $4,000 | $4,000 | N/A |
| # Of Free Monthly Transactions | Unlimited | Unlimited | Unlimited | Unlimited |
| # Of Free Monthly Interac E-Transfers | Unlimited | Unlimited | Unlimited | Unlimited |
| Monthly Fee | $16.95 | $17.95 | $16.95 | $16.95 |
| Excess Transaction Fee | N/A | 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 Scotiabank products Compare | I Want This Deal See more Coast Capital Savings products Compare |
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FAQ
What is the RBC Signature No Limit Banking Account?
The RBC Signature No Limit Banking Account is a mid-level chequing account that offers unlimited free transactions, unlimited free Interac e-Transfers, a small rebate for select credit card fees, and more. Despite these benefits, the monthly fee is rather high.
What is the annual fee for Signature RBC?
The annual fee for the RBC Signature No Limit Banking Account is $16.95 – a bit higher than usual for a mid-level account. If you qualify for the RBC Value Program, the fee can be discounted as low as $5.
How to avoid banking fees with RBC?
The RBC Value Program offers the best way to lower your fees. It offers discounts and increases Avion point earnings for clients who hold multiple RBC products, including bank accounts, credit cards, investments, mortgages, and business accounts.
What are the best free bank accounts in Canada?
There are many free chequing accounts available, and nearly all savings accounts are free. The overall best free chequing account is the Simplii No Fee Chequing Account, and the best savings account is the KOHO Earn Interest.
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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