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 
2.85%
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

Rates

Earn high interest rate on all your money:

2.85%
Business Advantage Account Rate1

Fees

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

Deposit service fees
Services Fees
Transferring money from your account at another Canadian bank No charge
Direct deposit No charge
Mobile cheque deposit No charge
Receiving money via Interac e-Transfer®3 No charge
Mail in cheque No charge
Withdrawal service fees
Services Fees
Transferring money to your account at another Canadian bank No charge
Pre-authorized withdrawal No charge
Bill Payment $1.00
Sending money using 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.

Here's how to deposit money into your account:

  • Transfer money from your account at another Canadian bank with online, mobile, or telephone banking
  • Deposit a cheque with our mobile banking app
  • Send a cheque by mail
  • Deposit money at a Royal Bank branch via NDDS slips
  • Receive money via Interac e-Transfer

Here's how to withdraw money from your account:

  • Transfer money to your account at another Canadian bank with online, mobile, or telephone banking
  • Pay bills with online or telephone banking
  • Set up pre-authorized payments
  • Write a cheque
  • Send money using Interac e-Transfer

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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