Personal Finance

RBC Signature No Limit Banking® account ... it's monthly fee to increase $1 ... from $14.95 to $15.95 on June 1, 2019

  • Last Updated:
  • Jan 22nd, 2019 2:36 pm
Banned
Nov 23, 2018
592 posts
514 upvotes
We live in a free world. No one is forced to bank with RBC or any other bank for that matter.

If you think the fees are not justified, open up your own bank and charge no fee. Tons of customers will be happy to bank with you.

Or get into office and pass a law that prevent banks from charging monthly fees.
Deal Expert
User avatar
Jan 27, 2004
41750 posts
5355 upvotes
T.O. Lotto Captain
BRKAMZN wrote: We live in a free world. No one is forced to bank with RBC or any other bank for that matter.

If you think the fees are not justified, open up your own bank and charge no fee. Tons of customers will be happy to bank with you.

Or get into office and pass a law that prevent banks from charging monthly fees.
One good thing about rbc is the way they structure their bank fee discount.
If you just need basic banking & want a branch locations...
All you need is a small investment like $1000 in a tfsa. thenget a no fee rbc visa. You end up getting the basic banking account for free. That way the money being tied up is at least earning interest.
Newbie
Jul 24, 2016
31 posts
23 upvotes
angryaudifanatic wrote: Your analogy is poor. A German car offers a superior driving experience. 10$ a month does not offer a better banking experience
Based on my own experience, German cars do break down very often. After owning 2 of them I would never buy any German car again!

But I wouldn't say that buying a German car makes you a moron, nor I would say paying a bank monthly fee is for idiots: different people have different needs and wants.
Deal Addict
Nov 9, 2013
3355 posts
2584 upvotes
Edmonton, AB
Pricing power.

Buy the big bank stocks and never sell.
Newbie
Sep 16, 2011
34 posts
20 upvotes
Toronto
This affects people who got the free iPad deal through opening an RBC account last summer. Just means they’ll have to pay a tiny bit more to hang onto their “free” iPad.
Jr. Member
User avatar
Jan 7, 2019
176 posts
110 upvotes
RBC is pretty competitive in my opinion. The signature no limit banking account is the second top tier account right after VIP banking. If you don't need free CHQs and 6-7 free bank drafts per year, then you can use their no limit banking or day to day banking.

For people complaining about their 15.95 fee, i'd love to see you rant about their private banking fees of $150+ per month.
Penalty Box
User avatar
Apr 21, 2004
51739 posts
16246 upvotes
Edares wrote: Based on my own experience, German cars do break down very often. After owning 2 of them I would never buy any German car again!

But I wouldn't say that buying a German car makes you a moron, nor I would say paying a bank monthly fee is for idiots: different people have different needs and wants.
I just found out that German car makers are forced to use some biodegradeable plastic in key components like the engine. I'm not sure if the poster was pulling everyone's leg but it makes perfect sense why for example, the timing chain rail on the BMW's break so easily.

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