RBC Advantage Banking Account

RBC Advantage Banking carries a monthly fee of $12.95.

The fee drops to $0 for students, anyone under 24, and newcomers to Canada in their first year. For everyone else, RBC's Value Program can rebate the fee all the way down to $0 if you hold enough eligible RBC products.

The plan includes unlimited debit transactions, so there are no per-transaction charges to watch out for.

Advantage Banking is RBC's everyday chequing plan, with unlimited debit transactions and free Interac e-Transfers included.

RBC also waives its own fee when you use a non-RBC ATM, though the ATM operator may still charge you separately.

The account earns 1 Avion point per $10 spent, a rare case of a chequing account feeding into a major transferable points program.

There's no minimum balance requirement, and deposits are eligible for CDIC coverage.