Back to Paper Statement

1. What is changing on my statement?
2. What are my recordkeeping options?
3. If I don´t choose the electronic statement option, can I still have access to the secure 7-year archive?
4. What if I want to save my statements for longer than seven years?
5. Why are you replacing paper cheques with cheque images?

1. What is changing on my statement?

The changes to your statement will make it easier to read and quicker to find the information that's important to you. In addition, you will receive images of the front and back of your cheques instead of your paper cheques returned back to you. You also have a new recordkeeping option: the eStatement.

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2. What are my recordkeeping options?

There are two recordkeeping options for business clients:

• printed paper statement with cheque image pages mailed to the address on file
• electronic statement (eStatement) with cheque image pages distributed through RBC Royal Bank^® Online Banking or RBC Express^®

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3. If I don´t choose the eStatement option, can I still have access to the secure 7-year archive?

If you have access to RBC Royal Bank Online Banking or RBC Express, you can view your statement online, regardless of your recordkeeping option (paper or electronic).

Note: If your recordkeeping option is a paper statement, a $2.50 fee will apply to view the statement online. If your recordkeeping option is an Electronic Statement, you can view your statement online at no additional cost.¹

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4. What if I want to save my statements for longer than seven years?

If you need to retain statements for longer than seven years, you have the option of either saving or printing your eStatement to your computer. Alternatively, you can continue receiving a paper statement and file your statement once received.

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5. Why are you replacing paper cheques with cheque images?

This is to ensure our business clients are prepared for the industry wide change to electronic image clearing and is fully supported by numerous organizations and accounting associations The Canadian Revenue Agency has also confirmed that images of the front and back of the cheques will be accepted when clients are asked for copies of cheques.

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1) Regular account and service fees may apply. Fees are subject to change without notice.