Is your money working as hard as you are?

The Business Advantage Account is the perfect complement to traditional bank accounts, allowing business owners like you to earn high interest on your excess or idle cash. You'll also get:

  • High interest on every dollar in your account
  • Easy access to your money with online and mobile banking
  • Free deposits and bank-to-bank transfers between your accounts at other Canadian banks

     

1.20%
Business Advantage Account Rate1

Is our Business Advantage Account right for you?

Yes, if you:

  • Own a small or medium-sized business
  • Have a primary operating account at another Canadian bank
  • Want to earn high interest on your idle cash without locking it in
Smiling man bakery.

Benefits

Rates & fees

Rates

Earn high interest rate on all your money:

1.20%
Business Advantage Account Rate1

Fees

No monthly fees, and no fees to deposit or transfer money. Other services and fees include:

Services Fees
Transferring money from your account at another Canadian bank no charge
Direct deposit no charge
Mobile cheque deposit no charge
Receiving an Interac e-Transfer®2 no charge
Mail in cheque no charge
Services Fees
Transferring money to your account at another Canadian bank no charge
Pre-authorized withdrawal no charge
Bill Payment $1.00
Sending an Interac e-Transfer $1.00
Cheques $1.50

Additional services such as wire transfers, stop payments, and official cheques (in lieu of certified cheques) are also available. Please review our Services and Fee Guide (PDF) for a complete list of all services and associated fees.

Resources

FAQ

Here's how to deposit money into your account:
 

  • Transferring money from your account at another Canadian bank with online, mobile, or telephone banking
  • Depositing a cheque with our mobile banking app
  • Sending a cheque by mail
  • Depositing money at a Royal Bank branch via NDDS slips
  • Receiving money with Interac® e-Transfers

Here's how to withdraw money from your account:
 

  • Transferring money to your account at another Canadian bank with online, mobile, or telephone banking
  • Paying bills with online or telephone banking
  • Setting up pre-authorized payments
  • Writing a cheque
  • Sending money with Interac® e-Transfers

The following business types are eligible:
 

  • Corporations
  • Partnerships
  • Trusts
  • Estates
  • Associations, Societies, or Lodges
  • Community accounts (i.e., hockey clubs, etc.)
  • Condominium corporations
  • Trade or labour unions
  • Charities, unincorporated charitable organizations, or not-for-profit organizations

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