RBC Business account review

Snapshot

RBC, the Royal Bank of Canada, offers business chequing accounts for Canadian businesses. Packages range from a low cost digital account to the Ultimate package, whose monthly fee is waived if you keep a minimum daily balance. RBC is one of Canada's largest banks.

Who it suits: Canadian businesses that want a major bank with branches, a range of account packages and the option to bundle savings, lending and cross border services
Broadly available in: Canada
Headline monthly fee: The Digital Choice Business Account is 6 Canadian dollars per month. Flex Choice is 7 Canadian dollars. Ultimate is 100 Canadian dollars, waived with a minimum daily balance of 75,000 Canadian dollars. As of 11 October 2026
Account type: Business chequing account

Fees and features as of 11 October 2026Last updated 11 October 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

RBC offers a range of business chequing packages for Canadian businesses. The Digital Choice Business Account costs 6 Canadian dollars per month and includes unlimited electronic debits and credits. The Ultimate package costs 100 Canadian dollars per month and waives that fee with a minimum daily balance of 75,000 Canadian dollars. Standard fees apply to transactions above what a package includes. Figures here are as of 11 October 2026.

Overview

RBC, the Royal Bank of Canada, is one of the country's largest banks and offers several business chequing packages. Options range from the Digital Choice Business Account, aimed at businesses that bank electronically, to the Ultimate package, which includes more transactions and waives its monthly fee with a qualifying balance. RBC also offers business savings accounts, lending and cross border banking for businesses operating between Canada and the United States.

Strengths

A large Canadian branch and advisor network. A spread of account packages from low cost digital to higher volume needs. Online opening is available to sole proprietors and single owner corporations with one signatory. A branch visit may still be needed to verify identity. There are linked savings, lending and cross border options.

Limitations

Charges apply for activity above what a package includes, and Flex Choice charges per transaction. Only the Ultimate package waives its monthly fee, and only with a minimum daily balance of 75,000 Canadian dollars. This banking is for Canadian businesses. Verify current packages, fees and eligibility with RBC before applying.

Fees and features

All figures as of 11 October 2026. Verify current terms with RBC Business.
Monthly fee	Digital Choice is 6 Canadian dollars per month. Flex Choice is 7 Canadian dollars. Ultimate is 100 Canadian dollars, waived with a minimum daily balance of 75,000 Canadian dollars. The U.S. Dollar Business Account is 9 dollars per month. As of 11 October 2026. Verify with RBC.
Transaction fees	Digital Choice includes unlimited electronic debits and credits and 10 outgoing Interac e-Transfers a month. Flex Choice charges per transaction. Standard fees apply to transactions above the included number. As of 11 October 2026. See the RBC business fees schedule.
FX fees	Foreign exchange and international payment charges apply per the RBC schedule. RBC also offers cross border banking between Canada and the United States. As of 11 October 2026.
Minimum deposit	No minimum opening deposit stated for the basic packages. Fuller packages waive the monthly fee only when you keep a minimum balance. As of 11 October 2026.
Multi currency	RBC offers United States dollar business accounts and cross border services alongside Canadian dollar accounts. As of 11 October 2026
Integrations	Online and mobile business banking, linked savings and lending, and cross border banking. As of 11 October 2026
Eligibility	Businesses registered in Canada. Sole proprietors and single owner corporations with one signatory can apply online. Other businesses apply in a branch, and RBC may ask for a branch visit to verify identity. As of 11 October 2026. Verify with RBC.

Open a RBC Business account

Availability and fees vary by country. Check the RBC Business by country pages below for your market, then confirm current terms with the provider. Shown as of 11 October 2026.

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RBC Business by country

Questions about RBC Business

How much does an RBC business account cost?

As of 11 October 2026, the RBC Digital Choice Business Account is 6 Canadian dollars per month and Flex Choice is 7 Canadian dollars. The Ultimate package is 100 Canadian dollars, waived with a minimum daily balance of 75,000 Canadian dollars. Verify current pricing with RBC.

Can I open an RBC business account online?

RBC states that sole proprietors and single owner corporations with one signatory can get an account number online. A branch visit may still be needed to verify identity and sign documents. As of 11 October 2026. Confirm the current process with RBC.

Does RBC waive the business account monthly fee?

On the Ultimate package RBC waives the 100 dollar monthly fee if you keep a minimum daily balance of 75,000 Canadian dollars all month. The Digital Choice account has a flat fee of 6 dollars instead. As of 11 October 2026. Verify with RBC.

Does RBC offer United States dollar business banking?

Yes. RBC offers United States dollar business accounts and cross border banking between Canada and the United States. As of 11 October 2026. Confirm current terms with RBC.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 11 October 2026. Confirm current terms with RBC Business before applying.