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
Earn high interest rate on all your money:
No monthly fees, and no fees to deposit or transfer money. Other services and fees include:
|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®3||No charge|
|Mail in cheque||No charge|
|Transferring money to your account at another Canadian bank||No charge|
|Pre-authorized withdrawal||No charge|
|Sending an Interac e-Transfer||$1.00|
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.
*2.00% promotional interest rate is for net new deposits to Canadian-dollar Business Advantage Accounts. The promotional interest rate is made up of the regular posted variable annual interest rate of 1.00% and the variable annual promotional rate of 1.00%. The promotional interest rate is calculated daily and paid monthly on net new deposits to a maximum of $2,000,000. For new accounts opened between June 3, 2022 and August 31, 2022, interest will be calculated beginning on the date the account is opened and continuing 180 days (6 months). For existing accounts, interest will be calculated from June 3, 2022 to November 30, 2022. Any change to the regular interest rate will result in a corresponding change to the promotional interest rate. The offer is limited to one account per business client and cannot be combined with other offers. The offer and rates are as of June 3, 2022 and subject to change without notice. See full Terms and Conditions for new clients (PDF) and for existing clients (PDF) respectively for details.
- Fees are subject to change with at least 30 days of prior written notice. If you don’t receive paper statements, you can find all fee information online.
- All fees are presented on a per item basis, unless otherwise stated.
- Charges are automatically applied to your account.
1 Interest is calculated daily on the total daily balance and paid monthly. Rate is subject to change without notice.
2 Manulife Bank is a member of the Canada Deposit Insurance Corporation (CDIC), which means your deposits are eligible for CDIC deposit insurance protection. Visit cdic.ca for information on eligible deposits.
3 ®Trade-mark of Interac Inc. Used under licence. Please review our Interac e-Transfer® limits.
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 with Interac® e-Transfers
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 with Interac® e-Transfers
The following business types are eligible:
- 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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