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Small Business > Borrowing and Credit > Loans and Lines of Credit > Overdraft Protection
Business Overdraft Protection
Royal Business Overdraft Protection
Even the best-run business can find itself short of funds, that's why we offer increased protection for your business. Overdraft protection allows you to extend your cash resources when you need it, giving you peace of mind while helping to protect your business’ reputation and credit rating.
How can this help my business?
- Provides overdraft protection up to $10,000 for greater control over your day-to-day cash flow
- Cheques will be honored if you're overdrawn, provided you're within your overdraft limit
- Accessible through your Business Client Card, allowing you to pay bills, make purchases and obtain cash advances anytime, anywhere
- Access these funds anywhere, and at anytime, through ABMs, Online and Telephone Banking, and through your Client Card at branches or through Interac
What else do I need to know?
- No set-up fee if you apply online, via fax, telephone, or mail (otherwise a low set-up fee of $25)
- Interest is calculated at RBC Royal Bank Prime rate plus 5%
- A low monthly fee of $10 or $5 per cheque
- Overdraft interest must be paid monthly