RBC Royal Bank: Seniors Rebate

If you bank with RBC and you are 65 or older, check whether the Seniors Rebate is on your account. The rebate lowers the monthly fee on RBC chequing accounts, and on the Day to Day Banking account it brings the fee to zero. The rebate is not always applied automatically, so a fee you have paid for years may drop the moment you ask. Note the threshold: RBC sets it at 65 and over, which is later than the age some other banks use, so it pays to know the exact age before you plan around it.

How to claim it

1. Check a recent statement or your online banking to see which RBC account you hold and what fee you pay now.
2. Contact RBC by phone, through online banking, or at a branch and ask for the Seniors Rebate to be applied to your account.
3. Confirm the new fee on your next statement, and ask which of your accounts the rebate covers if you hold more than one.

The rebate lowers the fee rather than removing it on most accounts. After the rebate, Advantage Banking costs $8.95 a month, down from $12.95. Signature No Limit Banking costs $12.95 a month after the rebate, and VIP Banking costs $22.50. Day to Day Banking is the exception: with the rebate applied, its monthly fee is gone entirely.

The Seniors Rebate cannot be combined with other monthly fee rebates, so if your account already carries a different rebate, RBC will apply the arrangement its terms allow. Fees and account terms can change, and the safest habit is to confirm the current amounts on RBC’s own site or at a branch before you switch accounts.

Practical tip: if your spouse or partner also banks at RBC, ask about the rebate for their account at the same visit, since each account holder qualifies on their own age.

Verified on October 18, 2026 against RBC’s own published Seniors Rebate and account fee pages.