Royal Bank of Canada review
Updated September 28, 2026 · HodlCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Royal Bank of Canada is a bank chequing account, so it suits Canadian everyday spending rather than crypto card shoppers. Its debit card comes with a monthly fee of CAD 4, where Monzo Flex has a monthly fee of £0, and the case for it rests on branch banking rather than card perks.
Pros and cons
Pros
- The card is debit, and 74.7% of the cards in this category are debit cards too.
- A single monthly fee of CAD 4, against a category high of €148.23.
Cons
- A monthly fee of CAD 4 applies, where Monzo Flex has a monthly fee of £0 and Wise has £0.
- The card is debit, the same type 74.7% of listings here already use, so the card itself is not what separates this brand.
- It ranks 328 of 379 on monthly fee, so cost decides this comparison.
Who it suits
- People in Canada who want everyday spending on a debit card from a bank.
- Readers who prefer a known monthly charge of CAD 4 to cards with no monthly fee.
- Anyone happy with a debit card rather than a prepaid or virtual one.
Who should look elsewhere
- Monzo Flex, which has a monthly fee of £0.
- Wise, whose monthly fee is £0.
- Bitpanda, whose monthly fee is €0 and whose card sits in the crypto card category.
How Royal Bank of Canada compares
Monthly fee of €0, below the CAD 4 charged on this chequing account.
Frequently asked questions
How much is the monthly fee on the Royal Bank of Canada chequing account?+
The account charges a monthly fee of CAD 4. That sits above the monthly fee at Monzo Flex, £0, and above Wise at £0. On the site's ranking the fee places it 328 of 379.
Is the card a debit card or something else?+
The card type is debit, so the card sits with the chequing account balance rather than a separate prepaid balance. Debit cards are also the most common type in this category, at 74.7% of the cards compared here.
Who is this account for?+
It is aimed at everyday chequing account spending in Canada rather than crypto card use. The monthly fee of CAD 4 is the main trade-off, and the debit card draws on the money already in the account. Readers after a monthly fee of £0 have cheaper options.
What protection comes with the money in this account?+
Protection terms sit with the bank. The comparison attaches no regulator, licence or protection scheme to this brand, so deposit protection is not described here. Ask the bank for its terms on account protection before you open an account.
Is this a crypto card?+
The card type is debit and the account is a bank chequing account, so it belongs with the debit cards in this comparison rather than the crypto cards. For a card in the crypto category, Bitpanda has a monthly fee of €0.
How does that fee compare with other cards on the site?+
Most cards in this category charge nothing a month, with a median of €0 and a high of €148.23. This account charges CAD 4, so the monthly cost is the clearest reason to compare the alternatives.
How is the account scored on cost?+
Cost is the only axis scored, at 1.4, and the overall score is 1.4 on the same scale. The monthly fee of CAD 4 is the single figure behind that cost rating.
What happens when I spend in another currency?+
Spend abroad and the conversion charge is the figure to confirm with the bank; this comparison lists the card as debit with a monthly fee of CAD 4. For context, the median conversion fee across the cards on the site is 1%.
Sources
- rbcroyalbank.com/bank-accounts/chequing-accounts/day-to-d... checked September 26, 2026
Backs: Card type, Monthly fee
“RBC Day to Day Banking is a chequing account that provides 12 debit transactions each month”
Compiled from 1 source page, checked September 26, 2026. We did not open an account.
Not confirmed yet: Currency conversion fee, Free ATM withdrawals, Protection.