Choosing the right business account is about more than convenience. It shapes how you move money, deposit payments, and keep clean records. In Canada, a popular option for companies that bank primarily online is the RBC Digital Choice Business Account package. This article gives you a clear, fact-first look at what the account includes, who it suits, and the costs to expect. You will also see where fees may apply, so you can decide if this account fits your needs.
(Fees and features can change. Verify the latest details on RBC’s website before you open an account.)
What the RBC Digital Choice Business Account Offers
The Digital Choice Business Account is a business chequing account designed for Canadian small businesses that prefer to bank online or on mobile. It offers unlimited business banking features for a low monthly cost – just $6/month¹
Rather than offering a small bundle of transactions, the appeal is simple, unlimited business banking features such as electronic debit and credit transactions, Moneris® deposits, and electronic cheque deposits.
Who It’s For
If you send invoices electronically, pay bills through online banking, receive direct deposits from clients or platforms, and rarely visit a teller, RBC Digital Choice Business account keeps day-to-day banking simple.
It suits owners who value predictable costs with unlimited electronic debit and credit transactions and a low monthly fee. Teams that are comfortable with e-statements and mobile or ATM cheque deposits usually find the structure matches how they already work.
However, if your workflow relies on frequent cash deposits or paper cheques, the per-item and per-thousand fees can outweigh the benefits of a digital-focused plan. For example, a retail or hospitality business that counts a lot of cash at the end of the day should estimate those fees carefully before choosing.
For many consultants, freelancers, agencies, and incorporated service businesses, RBC Digital Choice Business Account strikes a practical balance. You get unlimited electronic debit and credit transactions, clear rules around Interac e-Transfers, and the convenience of mobile deposit. That combination reduces mental overhead because you are not tracking a small allowance of transactions or worrying about limits.
If you are unsure, review one recent month of activity and total your electronic transactions, e-transfers, cash deposits, and paper items. If digital activity clearly dominates, the RBC Digital Choice Business Account package is likely to fit well.
What’s Included
RBC includes several core features with this account. Here’s what you get with RBC Digital Choice Business Account:
Unlimited electronic debit and credit transactions² that cover common digital activity such as bill payments, vendor transfers, and pre-authorized payments.
Unlimited Moneris® deposits allow card settlements from Moneris to land in your account without per-deposit charges.
Unlimited electronic cheque deposits³ are available through the mobile app and at RBC ATMs.
Each month includes 10 outgoing Interac e-Transfer transactions⁴ at no charge, with a per-transfer fee after that. E-statements are included at no cost. Paper statements are available for a fee, which you will see later in this guide.
These inclusions make monthly costs easier to plan for companies. You are not counting every electronic payment or watching a small allowance.
Fees to Know
Fees are from July 9, 2026 and subject to change.
Some fees apply when you use paper items or cash.
Paper
Paper-based transactions (like cheques written or in-branch deposits) are $2.50 per item. If you rarely use paper, this may not affect you. If you pay suppliers by cheque or deposit paper items often, build this cost into your monthly estimate.
Deposits in Cash
Cash deposits carry separate fees. Depositing cash at a teller is $5.00 per $1,000. Using an RBC ATM or Night & Day deposit slot reduces the rate to $2.25 per $1,000.
For example, a business that deposits $10,000 in cash at a branch in a typical month would pay an additional $50 on top of the monthly fee. The same amount deposited by ATM would cost $22.50. Run this simple math against your own deposit volumes so there are no surprises.
Online vs Paper Statements
Statement delivery differs by format. E-statements are included at no charge. Paper statements cost $4.50 or $5.00 each, depending on format. If you require paper for records or compliance, include that in your plan. Many teams find e-statements meet audit needs when combined with proper digital recordkeeping.
E-transfers
Interac e-Transfer usage has a clear threshold. The account includes 10 outgoing Interac e-Transfers each month at no charge. Any additional outgoing transfers are $1.50 each. If you expect to send many small transfers, consider batching payments where possible or review whether another RBC package would better match your volume.
The takeaway is straightforward. If you accept most payments electronically, pay bills online, and rarely touch paper or cash, your total cost can remain $6/month for this account. If you are cash-heavy or cheque-heavy, per-item and per-thousand fees can add up. Map your typical month across electronic transactions, e-Transfers, cash deposits, and paper items to see whether RBC Digital Choice Business Account aligns with your needs or whether another RBC account would deliver better value.
Nice to Know
There are a few related services that can enhance the experience if your business needs them. These are separate from the core inclusions in RBC Digital Choice Business Account but often matter in day-to-day operations. Taken together, these options let a digital-focused business keep money moving with fewer steps.
Interac e-Transfer for Business
This supports higher per-payment limits than standard personal transfers. With this service, payments of up to $25,000 per transaction are possible. It can be helpful if you pay contractors or suppliers in larger amounts. The enhanced limits are separate from the 10 included outgoing Interac e-Transfers that come with the RBC Digital Choice Business Account.
Integration with Moneris®
If you accept card payments, integration with Moneris® can simplify settlements. Unlimited Moneris deposits mean card sales processed through Moneris can settle into your account without a per-deposit charge. This reduces friction for both retail and e-commerce setups and keeps the focus on daily sales rather than counting deposits.
Multi-user access, permissions, and approvals
RBC’s digital banking platform also supports multi-user access, permissions, and approvals. You can assign roles for owners, bookkeepers, or managers, and set up alerts for key activities. The platform connects with common accounting tools, so reconciliations are easier and month-end closes faster.
These features are not unique to this account, yet they reinforce the digital-first design and reduce the need for branch visits.
How to Open the Account
Opening the RBC Digital Choice Business Account is straightforward. You can begin online, complete most steps digitally, and visit a branch only if identity or business verification is required.
Review your needs. Confirm that your activity is mostly electronic and that you expect limited paper or cash usage.
Gather documents. Prepare government-issued identification and business documents that apply to your structure. Sole proprietors may need a name registration. Partnerships typically provide a partnership agreement. Corporations bring articles of incorporation and a signing authority resolution.
Start the application online. Provide ownership information, business details, and contact preferences.
Verify identity. Complete online verification when available. If requested, visit a branch for a brief check of identification and business records.
Fund and set up. Make your first deposit if required, enroll in online banking, add users and permissions, and turn on alerts.
Connect tools. Enable mobile cheque deposit, link accounting software, and confirm your settlement setup if you use Moneris.
Once these steps are complete, the account is ready to use. You can send and receive electronic payments, deposit cheques by mobile or at an ATM, and rely on unlimited electronic transactions without tracking a small allowance.
Alternatives Within RBC
RBC offers other business chequing packages that may be a better fit if you frequently use cash or paper. The RBC Flex Choice Business Account is a middle ground for businesses with mixed usage needs. It carries a $7 monthly fee and is designed for owners who combine digital banking with some in-branch activity.
If you know you will write cheques regularly or bring cash deposits to a teller, RBC Flex Choice Business Account may keep total monthly costs more predictable than paying per item under the RBC Digital Choice Business Account plan.
For higher volume needs, the RBC Ultimate Business Account offers a broader set of unlimited features. It can make sense when transaction counts are consistently high across digital and branch activity. While the monthly fee is higher, the structure can be more economical for heavy users who would otherwise incur many individual charges.
A simple way to decide among the three business banking options is to map your habits for an average month. If your activity is almost entirely online and mobile with minimal cash or paper, RBC Digital Choice Business Account is often the most efficient. If your usage is mixed and you expect regular teller visits or cheque processing, RBC Flex Choice Business account is worth a careful look. If you operate at scale with sustained high volumes, the RBC Ultimate Business Account package may deliver the most value.
For full details, including fees, inclusions, and legal disclaimers, review RBC’s official product information on their website. When you are ready to proceed, start your application and set up essentials such as users, permissions, alerts, and mobile deposit. With those in place, you can focus on running your business while your banking runs in the background.
Legal Disclaimer (reproduced verbatim from RBC)
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 ATM and ChequePro.
Only includes outgoing Interac e-Transfer transactions sent on the RBC Online Banking for business or RBC Edge platforms. Excludes all other Interac e-Transfer services such as Autodeposit, Request Money, Request Money Fulfillment and Bulk Interac e-Transfer service.
RBC Mobile is offered by Royal Bank of Canada, RBC Direct Investing Inc. and RBC Dominion Securities Inc.
Standard fees and charges apply for services and transactions exceeding the number included in the account package. (Flex Choice reference for the “$7 monthly fee” callout.)
FAQ
How do I open a business account?
Start by choosing a business account that matches how you receive payments, make purchases, and handle cash or cheques. For the RBC Digital Choice Business Account Package, you can apply online in minutes or call RBC at 1-800-769-2520. You may need to visit a branch to verify your identity and activate the account.
Can I open a business bank account online?
Eligible sole proprietorships and single-owner corporations with one authorized signatory can apply online and may receive a business account number online. Multi-owner businesses and businesses with more than one authorized signatory will be directed to a branch. Additional in-branch steps may still be required before the account is fully operational.
Do I need a minimum balance for the RBC Digital Choice Business Account Package?
No. The RBC Digital Choice Business Account Package does not require a minimum balance.
Why choose a low-fee business account over a free business account?
The lowest monthly fee does not always produce the lowest overall banking cost. It is worth comparing the transactions included with the account against the additional fees your business is likely to incur. The RBC Digital Choice Business Account Package includes unlimited electronic debit and credit transactions, unlimited mobile and ATM cheque deposits, unlimited Moneris® deposits, and 10 outgoing Interac e-Transfer transactions each month.
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