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RBC Digital Choice Business Account Overview

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The RBC Digital Choice business account is one of Canada’s top chequing accounts for entrepreneurs. It is ideal for those who does their banking online or on the phone.

Canadians who operate e-commerce, do remote work, or are freelancers will love this business chequing account. It has similar features to the BMO e-business plan; however, it has a more flexible plan. This is a chequing account that is convenient and saves time.

The package helps you carry out your transactions online (via online banking) or through their self-channels, such as RBC Mobile App and RBC ATM.

While there are several digital business accounts in Canada, very few can match the perks of this RBC account. The ease of transactions and the security features it offers Canadians make it an excellent option for businesses.

RBC Digital Choice Business Account features

The Royal Bank of Canada remains one of the top banks in the country. Their objective is for their customers to have a bank account that can serve all their digital needs. Here are some features of the RBC Digital Choice business account:

Unlimited Electronic Transfers

The RBC business account allows unlimited digital debit and credit transactions. These include POS, pre-authorized payments, payroll bills, and other virtual bill transactions.

Cost

The account comes with a monthly payment of $6. This is for all business banking features included in the package. There aren’t any hidden or additional fees. After your limit for Interac transfers has been exhausted, you will pay a small fee of $1.50. There is also a $2.50 charge for paper deposits and credit transactions.

10 free Interac e-transactions monthly

You can make unlimited Interac payments monthly. However, the first ten outgoing transfers are free, and there are charges after this.

Unlimited Moneris Deposits

This account offers unlimited Moneris deposits and access to your Moneris funds the very next day, every day, 365 days a year. At no extra cost. 

Mobile Banking

Customers can manage their accounts on their mobile apps and web platforms. The RBC Mobile Banking app is highly secure and simple to download. With this mobile banking feature, you can easily see your transactions, pay bills, and transfer money.

Insurance

Having a secure chequing account is what Canadians deserve. The RBC Digital Choice business account offers their customers CDIC protection 24/7.

Because RBC is a member, all customers are liable for the protection of up to $100,000 in deposits. This Customer Deposit Insurance Plan signifies that RBC cares about their customers and safeguards their finances.

Fuel Savings

With this RBC business account, you will enjoy low gas prices. You must link your RBC business client card to a Petro-Canada card to enjoy this. With this, you will save three cents on each litre of gas at all Petro-Canada fuelling stations.

Unlimited Cheque Deposits

This account allows you to deposit multiple cheques electronically, via RBC Mobile App or RBC ATM. ,  putting your funds back into your business.

RBC Digital Choice Business Account - comparewise

Opening an RBC Digital Choice Business Account

To open this account, here are the steps to take:

1. Get started: Click here to go to the RBC Digital Choice Business Account page.

2. Enter your details: After opening the RBC website, you will press register and then be told to insert your details. Before continuing, ensure you meet the criteria, which include being at least 18 years old, residing in Canada, and currently having no other business products with RBC. After providing all the required information, continue to the next page.

3. State your business type: You will be asked which business category you operate in. Canadians who operate sole proprietorships or a private corporation can open this account online. You will need to consent to a soft credit check before moving to the next step. 

4. Approval: To complete the RBC Digital Choice business account registration process, you may need to visit an RBC branch close to you. This is to verify your details and activate your account immediately. Ensure you visit the branch with a valid ID.

5. Make a Deposit: After the branch has activated your account, make a deposit immediately. You can deposit as little as $5 for the first time.

FAQs about the RBC Digital Choice Business Account

How Much does RBC business Interac Cost?

You have 10 free outgoing Interac eTransfers per month included in the account package. However, after you have exhausted your limit, you will need to pay $1.50 for each Interac e-Transfer. Certain RBC accounts also incur an account debit cost based on the current balance.

Can you Open an RBC Business Account Online?

You can open an RBC business account online using your PC or mobile device. Also, you could complete the online application in less than 15 minutes for RBC business chequing accounts. However, you may need to visit a branch to validate your identity and activate your accounts such as the RBC Digital Choice.

What Is the Limit for RBC business Interac Transfers?

The RBC daily limit for business Interac eTransfers from your account is $10,000. This refers to the total amount of funds that can be processed daily.

RBC Digital Choice Business Account Details

Monthly Fee
$6
Transaction Fee
$2.50
E-Transfer Fee
$1.50
Monthly Self Serve Transactions
Unlimited
Monthly Cheque Transactions
Unlimited
Monthly E-Transfers
10
Number of Monthly Transactions
Unlimited
Other Features

RBC Digital Choice Business Account Contact

Phone Number
Hours
9:30 AM - 5:00 PM
Address
200 Bay Street Toronto Ontario M5J 2W7 Canada
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RBC Digital Choice Business Account Details
  • Account Type : Chequing
  • Monthly Fee : $6
  • Monthly Transactions : Unlimited
  • Other Features :
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