How to Close RBC Account?

Everyone in this world earns money by doing one or the other thing. But once we have made money, we need to manage it. When I say control, it is not only about spending money on various things. It is also about keeping the money safe and, at the same time, save money for the future. Now the banks come into the picture, and the bank accounts are great instruments to keep our hard-earned money safe. But sometimes circumstances arise where we need to close the bank account. And today, I will tell you how to close RBC account.

There are many reasons to close a bank account. Everyone has their reason. If you wish to share your reason for closing the account with the Royal Bank of Canada. Then the comment box at the end of this article is the best place to do it. If you comment down the reason, even the other readers of this article will know why you are closing it and why they should close their account with the RBC. Every bank that is working not only in Canada but throughout the world tries way too hard to give the best banking services to its customers.

But sometimes they end up disappointing the customers. And when the customer gets disappointed, they close down the bank account. However, many other banks are operating in Canada, like TD Bank, CBIC, etc. But I would recommend you to open a bank account (alternative account) in another Canadian bank before you close the one you have with the RBC Bank. That is because when you are planning to close the RBC account, you have to make sure that your bank account balance is zero.

About Royal Bank of Canada

Royal Bank of Canada Logo

Before we learn how you can close RBC account, I would like to tell you a few things about the RBC. I am pretty sure you might not be knowing these facts about the bank where you held your account for so many days.

Bank Type Public
Founded 1864
President and CEO (May 2020) David I. McKay
Revenue (2019) CA$ 46 Billion
Net Income (2019) CA$ 9.67 Billion
Assets Under Management (2019) CA$ 660.9 Billion
Total Assets (2019) CA$ 1.49 Trillion
Number of Clients 16 Million
Number of Employees (2019) 85,000
Number of Branches (2019) 1,2019
Number of ATMs 4,200+
Customer Care 00 1 506-864-2275

The Royal Bank of Canada is the largest bank that is operating in Canada by market capitalization. And their service is quite excellent. I discussed with many people who hold their bank account with RBC, and they are quite happy with the services they are getting from the bank.

How to Deal with RBC Dormant Accounts?

If you have not used your RBC account for more than 24 months, the bank will consider your account as dormant. The meaning of the term dormant is inactive. And if you wish to gain back access to your account by making it active again, then you will have to pay some fees to the bank.

Period of Time Fees Charged by RBC
2 – 4 Years $ 20
5 – 8 Years $ 30
9 Years $ 40

If the account holder does not make any transactions for more than nine years, then the remaining balance in the bank account is sent to the Bank of Canada, Canada’s Central Bank.

Fees Charged by Royal Bank of Canada

You should keep in mind that you can not get rid of your bank account if you are not interested in using it. Always proper steps are to be taken by you. If not, you will have to meet the people from the collection agency.

Thinking why?

Let me explain it to you. If you keep your bank account under and it goes into a negative balance, you have to pay the service charges to the bank. As the negative balance grows in your account, the bank will charge you an overdraft fee at an interest rate of 21%. So I highly recommend you to take proper steps and care of your bank account. If you don’t want to use the account, go through the appropriate steps, and close it so that you don’t have to pay unnecessary fees.

Things to Do Before you Close RBC Account

When we are using a bank account for an extended period, we get the things connected with it. So we have to make sure that everything is in good condition before we close the account. Let me tell you about the things you should do before you can close Royal Bank of Canada Account.

  • Open a new bank account in another bank.
  • Change the payment preference for any regular deposits you are receiving in your current RBC Account. Set the things right so that you can receive the deposits in another account. 
  • You have to update all your pre-authorized payments. If you don’t do it, your payment will fail.
  • If you have a negative balance in your bank account, make sure you clear it.
  • Download your bank account statement for the last six months and keep in safely with you.

Steps to Close RBC Account – Royal Bank of Canada

Steps to Close RBC Account - Royal Bank of Canada

Now, we know many things about the Royal Bank of Canada, possible charges the bank may apply, and the things you should consider doing before you close the bank account. It is time to discuss the steps that you need to follow to close RBC Account.

There are two ways to close RBC Account, and they are,

  • By visiting the Local Branch of RBC
  • And by calling the customer care of the bank.

Closing RBC Bank Account by Visiting Branch

I would recommend you to visit the branch of RBC and close your bank account. That is because you can get a clear idea of everything. Even if any issues are stopping you from closing the account, you can get those cleared with the help of bank officials. In case you have any negative balance or your account has turned into dormant, you can get the things corrected in one visit to the local branch.

Steps to Close RBC Bank Account by Visiting Branch:
  1. Locate the RBC’s branch, which is near to your location.
  2. Visit the branch and talk to the bank officials.
  3. Tell them that you want to close your bank account.
  4. They will ask you why you are closing your account and give them your reason for account closure.
  5. Tell the bank how you want to receive your remaining account balance.
  6. And complete the final formalities told to you by the RBC’s officials.

While you are going to the branch of the Royal Bank of Canada, make sure that you are carrying an identity proof document with you. The bank officials may ask you to show the identity proof document.

Closing RBC Bank Account by Call

You can also close your RBC Bank account by calling customer care. But to do this, your bank balance should be zero, and there should be no negative balance in your account. You can make your bank account balance zero by transferring it to another bank account of your choice.

I recommend you to transfer all your remaining balance on the day you wish to close your account. If you make your account balance zero well in advance, you have to pay the NSF fee to the bank.

Steps to Close RBC Bank Account by Call:
  1. Call the customer care of the Royal Bank of Canada on 1-800-769-2511.
  2. Tell them that you want to close your bank account.
  3. The customer service executive will ask you a few verification questions to answer them correctly.
  4. Then the executive will ask you the reason why you want to close the bank account.
  5. Provide your reason why you want to do it.
  6. If all the things about your bank account are right in place, then the executive will close the account for you.

This method to close your bank account over the call sounds easy. The success rate is less, and that is why I recommend you visit the local branch of the Royal Bank of Canada and get your account closed.

How is this Information Verified?

I had a conversation with the Customer Support of the RBC Bank on Instagram to verify this information. The screenshot of the same is added below.

My Conversation with RBC Bank's Customer Care on Instagram

Conversation with RBC Bank's Customer Care on Instagram

How to Contact the Royal Bank of Canada?

If you wish to contact the Royal Bank of Canada, then you can use the contact details given below. I have put my efforts to collect the right information about how you can close RBC account. But still, I recommend you to verify whatever is mentioned here with the bank and then use it for your personal use.

Contact Details of Royal Bank of Canada:
  • Phone Number: 1-800-769-2511
  • Facebook:
  • Twitter:


These are the two methods that you can follow to close RBC account. I hope all the information mentioned in this article is clear to you. But I highly recommend you to verify the information with the bank before you use it personally.

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