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Commercial Banking > Business Accounts > U.S. Business Deposit Account

U.S. Business Deposit Account

You are on: Features & Benefits

The U.S. Business Deposit Account is a great way for businesses dealing in U.S. Dollars to manage their foreign exchange needs in a cost effective way. With a Pay As You Go fee structure that provides flexible cost savings, this account has many benefits including:

  • The monthly fee of $9 U.S. is waived if a minimum monthly balance of $2,500 U.S. is maintained in your account.
  • For each $2,500 U.S. of minimum monthly balance on deposit, the fee for one debit or credit is waived.
  • If your monthly debit/credit transaction fees for this account exceed $9 U.S, the actual fees incurred will be charged.

Open Your Business Account

Our dedicated specialists will work with you to provide the financial advice and solutions to help your business grow.


You are on: Fees

Monthly Fees & Volumes

Package Fee   $9.00 U.S(1)

Credit or Debits

Transaction   Fee
Debits / Cheques   $1.12(2) U.S. each
Credits / Deposits   $1.12(2) U.S. each
Items deposited   $0.22(3) U.S. each
Cash deposited
(Night and Day deposit(4)) chutes
$2.25 per $1000 U.S.
Cash deposited (In-branch)   $2.50 per $1000 U.S

1) Monthly fee of $9 U.S. applies only if your minimum monthly balance falls below $2,500 U.S. This fee is waived if your monthly debit/credit transaction fees for this account exceed $9 U.S.

2) One debit or credit fee is waived for each $2,500 monthly balance on deposit.

3) Deposits to U.S. dollar accounts are not permitted at RBC Royal Bank ATMs.

4) Night and Day deposit or standard pricing for such service may not be available in all areas. Other fees and charges may apply.

US Float Fees:

This fee is applied when same-day value is given for U.S. cheques which are deposited into an account and given credit but settlement is not received from the bank on which the cheques are drawn until several days later. To compensate for this difference, RBC Royal Bank will apply this US Float Fee where the average monthly credit balance in the account is less than the average monthly US float balance requirement – if the account balance is equal to or greater than the average monthly float balance requirement the US Float Fee may be charged. For complete details on the application of this fee and how it may apply to your deposit accounts ask your Account Manager or Business Advisor for details.

You are on: What You Need to Know

U.S. Law Restrictions

For a number of years, there have been U.S. laws in place that restrict the ability of U.S. persons, businesses and financial institutions from engaging in specified transactions with certain countries, individuals and entities. However, many U.S. dollar transactions, including those originated by non-U.S. financial institutions, must clear through a U.S. bank, and are in turn, governed by these U.S. laws (for example, the par crossed cheques associated with our U.S. dollar accounts clear through our branch in New York). Consequently, the U.S. laws must be respected by financial institutions and people and businesses in other countries that transact or operate in U.S. dollars and, therefore, through the U.S. banking system.

Compliance Procedures

As a result, there are additional compliance procedures for U.S. Dollar Accounts and these procedures may differ depending on the particulars of the U.S. country sanction programs for those countries targeted by U.S. sanctions or embargos.
When opening a U.S. dollar Business Account, Royal Bank of Canada requests that our Business clients provide specific information in connection with their Business operations, including the countries in which they operate or otherwise conduct business. In addition to Business operations, we request disclosure of the citizenship and residency for individuals holding significant ownership positions in such businesses.