Canadian Bank Comparison
Physical Banks
RBC
Unlike the other physical banks, RBC doesn't waive the fee with a minimum balance. Instead, you receive a scaling rebate based on having certain RBC products: credit cards, mortgages, investments, and business accounts. If you have 2 of the previous products, you save $4; if you have 3 of the products, you save $11.95.
| Feature | VIP | Signature | Advantage | Day to Day |
|---|---|---|---|---|
| Fee | $30 | $16.95 | $11.95 | $4 |
| Credit Card Rebate | $120 | $48 | N/A | N/A |
| Bonus | iPad | iPad | N/A | N/A |
TD
| Feature | All-Inclusive | Unlimited | Every Day | Minimum |
|---|---|---|---|---|
| Fee | $29.95 | $16.95 | $10.95 | $3.95 |
| Minimum Balance: Rebate | $5000 | $4000 | $3000 | N/A |
| Safety Deposit Box | 1" x 9" x Unkown | N/A | N/A | N/A |
| Credit Card Rebate | $139 | N/A | N/A | N/A |
| Bonus | $450 | $450 | N/A | N/A |
Scotiabank
| Feature | Ultimate Package | Preferred Package | Basic Plus | Basic |
|---|---|---|---|---|
| Fee | $30.95 | $16.95 | $11.95 | $3.95 |
| Minimum Balance: Rebate | $5000 | $4000 | $3000 | N/A |
| Safety Deposit Box | 1.5" x 5" x 24" | N/A | N/A | N/A |
| Credit Card Rebate | $150 | N/A | N/A | N/A |
| Bonus | $350 | $350 | N/A | N/A |
BMO
| Feature | Premium | Performance | Plus | Practical |
|---|---|---|---|---|
| Fee | $30 | $16.95 | $11.95 | $4 |
| Minimum Balance: Rebate | $6000 | $4000 | $3000 | N/A |
| Credit Card Rebate | $139 | N/A | N/A | N/A |
| Bonus | $450 | $450 | $100 | N/A |
CIBC
| Feature | Smart Plus | Smart | Everyday |
|---|---|---|---|
| Fee | $29.95 | $16.95 | $4 |
| Minimum Balance: Rebate | $6000 | $4000 | N/A |
| Credit Card Rebate | $139 | N/A | N/A |
| Bonus | $350 | $350 | N/A |
National Bank
| Feature | Premium | Performance | Plus | Practical |
|---|---|---|---|---|
| Fee | $28.95 | $15.95 | $10.95 | $3.95 |
| Minimum Balance: Rebate | $6000 | $4500 | $3000 | N/A |
| Credit Card Rebate | $150 | $30 | N/A | N/A |