How hard is your short-term cash working?

This account is designed to complement a traditional operating account by allowing business owners to transfer excess cash into it online or over the phone and earn a high rate of interest on every dollar.

Our Business Advantage Account gives you:

  • Unlimited, no-fee deposits and fund transfers into your account
  • A high interest rate on every dollar you deposit
  • Easy transfers between your accounts at other Canadian financial institutions
  • Quick access to your money when you need it

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 interest on your idle cash

     
Smiling man bakery.

Benefits

Rates & fees

Rates

Our Business Advantage Account offers a high interest rate on all your money:

1.20%
Business Advantage Account Rate

Fees

With our Business Advantage Account, there are no fees to open an account, make deposits or transfer funds. Other services and fees include:

Services Fees
Transferring money from your account at another financial institution 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 financial institution 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 an Official Cheque (in lieu of a certified cheque), wire transfers and stop payments are also available. Please review our Services and Fee Guide for a complete list of all services and associated fees.

Resources

FAQ

There are no fees to open an account, make deposits, set up pre-authorized payments and transfer funds. Fees for other services may apply. 

Making deposits into your account is easy. You can deposit money several ways, such as:

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

You can withdraw your money any time you need it. You can make withdrawals several ways, such as:

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

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