Account closing fees at Canadian banks
A closing fee is a charge for shutting the account, not the monthly package fee and not a dormant account notice. RBC prints the cases. Other major banks were left out because their closing pages were not opened.
Last checked: Oct 2026
What RBC prints
Opened 16 October 2026. The table is RBC's additional account services page. Free in that table is the word RBC prints. Upload the statement on Expenvo. The PDF stays on your device.
| When you close | Fee RBC prints |
|---|---|
| Within 15 days of opening | Free |
| After 15 days, and the balance moves to another RBC Royal Bank account or product | Free |
| After 15 days, the balance does not move to another RBC account or product, and you close in person at the branch | Free |
| After 15 days, the balance does not move to another RBC account or product, and you do not close in person at the branch | $20.00 per account |
Banks not in this table
TD, Scotiabank, BMO, CIBC, National Bank, Desjardins, Tangerine, Simplii, and EQ Bank were not opened for a closing fee. Credit unions were not opened. A missing row is not a statement that closing is free.
A dormant account notice is a different charge. RBC's inactive notices, and the Bank of Canada transfer after 10 years, are on dormant account fees at Canadian banks.
Questions
- Does RBC charge $20 every time you close an account?
- No. The $20.00 applies after 15 days when the balance is not moved to another RBC account or product and you do not close in person at the branch. The other cases on that page are free.
- Is closing within 15 days free?
- RBC prints Free for account closing within 15 days of opening.
- Is this the same as a dormant account fee?
- No. A dormant fee is for an account that has sat unused. A closing fee is for an account you ask the bank to shut.
- Why are the other banks missing?
- Their closing fee pages were not opened on 16 October 2026. Use the fee list for your own account.
Sources
Related guides
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