Here's How Many Shares of RBC and TD You Need to Pay Your Monthly Bank Fees

Here’s How Many Shares of RBC and TD You Need to Pay Your Monthly Bank Fees

Owning productive assets like stocks can help you pay for the various fees life throws at you.

Tony Dong, MSc, CETF®

Tony turned a series of 2017 marijuana stock losses into a freelance career advocating for ETF investing. He currently holds a Master’s in Risk Management from Columbia University and is a Certified ETF Advisor (CETF®). Tony is the founder of ETF Portfolio Blueprint (etfportfolioblueprint.com) and the Lead ETF Analyst for ETF Central, a partnership between Trackinsight and the NYSE. His analysis has also been featured in publications like Kiplinger, 24/7 Wall St., U.S. News & World Report, TheStreet, and Benzinga. Tony also provides independent content and marketing consulting services to various Canadian and U.S. ETF issuers. His editorial opinions for The Motley Fool remain independent and objective.

Published October 3, 2025 4:00 pm EDT

I hate getting nickel-and-dimed by bank fees. That’s why I moved everything to Wealthsimple. I get a credit card, chequing, a Tax-Free Savings Account (TFSA), and a Registered Retirement Savings Plan (RRSP) in one place.

Some of you are still with the big banks, whether from inertia or perks. There’s an easy way to blunt those pesky fees. Own enough shares of the same banks you use. The dividends can act like a rebate on your monthly charges.

Today, I’ll run the passive-income math for Royal Bank of Canada (TSX:RY) and Toronto-Dominion Bank (TSX:TD), using their most recent quarterly payouts. I’ll assume a combined chequing and savings fee of $20 per month. If your fees are different, just swap in your number.

money goes up and down in balance — Source: Getty Images

Royal Bank of Canada

For Royal Bank, let’s assume you want to cover $20 a month in fees, which adds up to $60 each quarter. Royal Bank currently pays a quarterly dividend of $1.54 per share.

If you divide your $60 in quarterly fees by that $1.54 payout, you’ll see you need just under 39 shares. At the current share price of $204.44, that means an investment of roughly $8,000 would generate enough dividends each quarter to fully offset those bank fees.

Toronto-Dominion Bank

Now, let’s do the same math for TD Bank. The same $20 monthly fee again adds up to $60 per quarter. TD currently pays a quarterly dividend of $1.05 per share.

Dividing $60 by $1.05 shows you’d need about 58 shares. At the current price of $111.14, that means investing a little over $6,400 would cover your bank fees through dividends.

The Foolish takeaway

Your bank fees are a small but constant expense, but the bigger takeaway is about mindset. Thinking in terms of dividends reframes your relationship with money—you’re not just a consumer paying bills, you can also be an owner of the companies you rely on.

This doesn’t just apply to banks. Utilities, grocery chains, and plenty of other companies you pay every month are publicly traded. By buying shares, you become a part-owner, entitled to dividends and a claim on their long-term growth.

Holding those shares in a TFSA makes the process even more powerful, since the income is completely tax-free. The point isn’t to obsess over covering every bill but to steadily build an asset base that works for you in the background while you go about your life.