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Start Out Strong with a Business Bank Account

Whether you’re just getting started or building out your side hustle, the right business bank account can help set you up for success. Easily keep track of business-related payments and expenses, get organized and be ready to take on the opportunities ahead.

3 reasons to keep your personal and business expenses separate:

Simplify tax season. You’ll stay ahead and avoid last-minute stress with all your business expenses in one place.
Make the most of tax-deductible expenses. This can help you keep more of what you earn.
Monitor how your business is doing. Keep a clear picture of how much you make and spend.

Open a business account

The right account can help save you time and money.

An RBC Digital Choice Business Account™ package has no minimum balance requirement, comes with unlimited electronic debits and credits^{legal disclaimer 2}, unlimited electronic cheque deposits^{legal disclaimer 3} and more – all for just $6/month^{legal disclaimer 1}.

Remember, the cost of your business bank account is considered a business expense, you can claim it on your tax return as a deduction.

Open a Business Bank Account

Register your business

It’s easy to register your business with Ownr.

Register your business with Ownr starting at $49 and get up to $300 back^{legal disclaimer 8} for your business when you open an RBC business bank account.

How to Get Started

It all starts with an RBC business bank account. Apply online and in less than 15 minutes^{legal disclaimer 9} you can get your business bank account number.

You may need to stop by a branch to quickly verify your identity and activate your account.

Visit RBC Services Beyond Bankingopens in a new window to discover all business services, solutions and special offers available to help you operate your business.

RBC Digital Choice Business Account Package

BEST FOR: DIGITAL BANKING

$6.00 / month^{legal disclaimer 1}

Unlimited electronic debit and credit transactions²
Unlimited electronic cheque deposits^{legal disclaimer 3}
10 free outgoing Interac e-Transfer^‡ transactions^{legal disclaimer 4}
Unlimited Moneris deposits
No minimum balance required

Open Bank Account

Most Flexible

RBC Flex Choice Business Account Package

BEST FOR: DIGITAL + IN-BRANCH BANKING

$7.00 / month^{legal disclaimer 1}

Save 40% on transactions made through RBC Online Banking, the RBC Mobile app^{legal disclaimer 5} and RBC ATMs^{legal disclaimer 6} versus paper transactions
Save on cash deposits at the RBC ATM and Night and Day Deposit^{legal disclaimer 7} Service
Only pay for what you use
Unlimited Moneris deposits
No minimum balance required

Open Bank Account

You can also open an account over the phone without coming into the branch.

Call 1-866-822-6404

Help Me Choose the Right Account

Not sure what account is right for your business? Answer a few short questions and we’ll recommend the account that best matches your business needs. Choose one answer for each question.

Based on your answers, we recommend (2 products)

^®/TM

Trademark(s) of Royal Bank of Canada.

^‡

All other trademarks are the property of their respective owner(s).

Standard fees and charges apply for services and transactions exceeding the number included in the account package.

Includes electronic (digital) debit and credit transactions to the account, such as online bill payments, pre-authorized payments (PAPs) and point of sale (POS) transactions. Standard fees apply for other services, including cheques and cash deposited at RBC ATMs, Pay Employees & Vendors (PEV), Interac e-Transfer transactions and wire transfers not expressly included in the package when completed online. For full list of fees not included with the account review the RBC Digital Choice Business Account Package page.

Includes cheques deposited through the RBC Mobile app, RBC ATMs and ChequePro.

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Only includes outgoing Interac e-Transfer transactions sent on the RBC Online Banking for business platform. Excludes all other Interac e-Transfer services such as Autodeposit, Request Money, Request Money Fulfillment and Bulk Interac e-Transfer service. Standard fees and charges apply for transactions exceeding the number included in the account package.

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RBC Mobile is offered by Royal Bank of Canada, RBC Direct Investing Inc. and RBC Dominion Securities Inc.

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Savings accrue from lower standard processing fees charged on electronic (digital) debit and credit transactions (vs. paper) such as online bill payments, pre-authorized payments (PAPs) and point of sale (POS) transactions. Standard account fee per electronic credit and debit transaction is $0.75 versus $1.25 per paper transaction. Fees and charges may vary based on location. Standard fees apply for other services, including cheques and cash deposited at RBC ATMs, Pay Employees & Vendors (PEV), Interac e-Transfer transactions and wire transfers not expressly included in the package when completed online.

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Savings range from 10% to 55%, depending on your account package. The Night and Day Deposit service may not be available in all areas. Fees and charges may vary based on location. Other fees and charges may apply.

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"$300 back" offer is inclusive of any applicable taxes ("Offer"). Offer available when you register or incorporate with Ownr and apply and get approved for a new RBC business deposit account associated with the business registered or incorporated with Ownr ("BDA") within 60 days ("Application Criteria"). Royal Bank of Canada (not Ownr or RBC Ventures Inc.) will in its discretion make approval decisions for all BDA applications. Once you complete the Application Criteria, you must log back into your Ownr account and click 'Refund Me'. You will receive the Offer as a credit in your BDA within 7-10 business days of clicking 'Refund Me'. To qualify for this Offer your BDA must remain open for a period of 1 year from the date it is opened but there is no minimum balance that must be maintained in your BDA. If you received this Offer then change or close your BDA within 1 year of the date it was opened, we reserve the right to debit from your BDA an amount equal to the value of this Offer (inclusive of applicable taxes), even if this places the BDA into overdraft. Offer may be revised or withdrawn at any time without notice.

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In order to get a business bank account and account number online, the business must be a sole proprietorship or a single-owner corporation, in each case, with only one authorized signatory. The business must be registered in Canada or a business operated in Canada by a natural person who is a permanent resident of Canada. Additionally, the authorized signatory completing the online application on behalf of the business must successfully complete the personal identification portion of the application, including, without limitation, a credit bureau report to the satisfaction of Royal Bank of Canada. Multi-owner businesses or businesses that have more than one authorized signatory will be directed to the branch to get a business bank account and account number. Issuance of an account number does not guarantee that the account is operational. RBC may restrain the use of the account and require the business client to visit a branch to satisfy any outstanding requirements prior to operating the account. RBC reserves the right, in its sole discretion, to require that the business client visit a branch to complete the application. A business client that successfully completes the online application will still need to visit a branch to obtain a business client card and sign additional documentation, even if a bank account number has been issued. Actual completion time may vary from person to person and may be affected by a variety of external factors, including internet navigation speed and other interruptions. RBC does not accept any responsibility for any damage or loss that any parties might suffer resulting from any deviations from time indicated.