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Small Business > Online & Mobile Banking > Online Banking > Pay Employees and Vendors

Pay Employees and Vendors

The Pay Employees and Vendors service allows you to use RBC Royal Bank Online Banking for Business to make electronic payments to employees, vendors and others at any financial institution in Canada.

Features

  1. You can make up to $5,000 in payments daily, as long you have sufficient available funds in your account. Need a higher limit? Choose our optional enhanced security feature.
  2. Move funds in Canadian or U.S. dollars
  3. Easily manage your payments with:
    • Employee and vendor payment lists
    • Detailed payment reporting with export capability
    • Currency conversion done automatically at competitive rates
  4. Email notification
    • You will receive an email each time payments are processed and completed. As well, you will receive an email to advise you of returned payments.
    • You may choose whether or not an email will be sent to your payee on the day the funds are to be credited to your payee's account.
    • For privacy reasons, banking information will not be included in automated emails.
 

Fees

Priced competitively at slightly lower than a cheque, the Pay Employees and Vendors service is a cost-effective and convenient alternative to cheques.

Item Fee
Payment Transaction $0.85
Email sent to the recipient of funds $0.25
Returned Payment $0.50
Reversal Request $15.00
Payment Trace Request $35.00
Token fee $50.00
 

Getting Started

If you are an RBC Royal Bank Online Banking for Business client, you can enrol by simply completing the required steps below. This should take about 5 minutes.

  1. Sign in to RBC Royal Bank Online Banking
  2. Click "Profile and Preferences" from the left–hand menu, and then "Pay Employee and Vendors Profile"
  3. Select Continue
  4. Review the Client Obligations
  5. Confirm your Pay Employees and Vendors client profile information
    • RBC Royal Bank will use your email address to let you know when payments are completed or returned unprocessed and when advice is received regarding a change in banking information
  6. Request a security token (optional)
  7. Confirmation

To use the service, click on the link (see Step 2 above) any time after you have signed up.

Not an RBC Royal Bank Online Banking for Business client? Call 1-800-769-2520 to enrol.

 

More Information

Phone Call 1-800-769-2520