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RBC Digital Choice Business Account: Ideal solution for SMEs

4 min read
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RBC Digital Choice Business Account: Ideal solution for SMEs
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In Canada, the choice of corporate accounts is rather limited compared to personal accounts. What’s more, monthly fees are often very high, which can be onerous for small and medium-sized enterprises (SMEs). With this in mind, RBC offers an affordable bank account for businesses. It’s the RBC Digital Choice Package for Business, with unlimited electronic transactions and fees as low as $6/month. In this article, we introduce you to this RBC bank account for businesses, including product details, pros and cons and our product review.

What is the RBC Digital Choice Business Account?

The RBC Digital Choice Business Account is an ideal chequing account for your small business if your banking needs are relatively straightforward and you make most of your transactions online. The fees for this RBC business account are very affordable at only $6 per month. But that doesn’t mean that the functions offered are limited. On the contrary…

With this business bank account, you get :

  • Unlimited electronic transactions for debit and credit (e.g. online bill payments, pre-authorized payments, point-of-sale transactions, etc.).
  • Unlimited digital cheque deposits (includes cheques deposited using the RBC Mobile App, RBC ATMs and ProCheque)
  • Unlimited Moneris deposits (to offer your customers the convenience of online or in-store card payments)
  • 10 free Interac e-Transfers (limited to outgoing Interac e-Transfer transactions sent through RBC Royal Bank’s Business Online Banking or RBC Advantage platforms – excludes automatic deposits, fund requests, etc.).
  • Free electronic account statements

Plus, you get Petro-Canada gas savings when you link your eligible RBC corporate cards to your Petro-Canada card.

However, you must pay for products and services that are not included in your package, such as cash deposits, paper account statements and incoming Interac e-Transfer transactions. Additional charges apply if you exceed the maximum number of transactions included in the package.

How do I open an RBC business account?

To open this RBC business account, you can start filling out your application online. Next, you’ll have an in-branch appointment to validate your documents and complete the account opening process. When your account is ready for use, you’ll be able to access it through RBC Online Banking.

Pros and cons of the RBC Digital Choice Business Account

Here are the pros and cons of the RBC Digital Choice Business Account:

Benefits

  • Low monthly fees
  • Unlimited electronic transactions for debit and credit operations
  • Unlimited digital cheque deposits
  • Unlimited Moneris deposits
  • 10 outgoing transactions Free Interac e-Transfer

Cons

  • Interac transfer fee after 10 outgoing transfers and for incoming transactions
  • Fees for paper account statements
  • Fees for paper deposit and credit transactions and cash deposits

While the downsides point to plenty of extra fees, we reiterate that this is an ideal chequing account for your SME if you predominantly use digital banking for your transactions. If so, you won’t have to pay these extra fees.

Combine the benefits of RBC business account with a RBC business credit card

Do you have a credit card for your business? You could combine the benefits of the RBC Digital Choice Business Account with a Royal Bank of Canada (RBC) business credit card. For example, the RBC Avion Visa Infinite Business Card. This way, you can earn points RBC Avion Rewards on your business purchases and expenses, while enjoying generous welcome bonuses.

RBC Avion Visa Infinite Business Card

BusinessRBCRBC Avion Rewards - Elite
Annual fee
$175
Our valuation
$525

Milesopedia first-year estimateFirst-year valueWelcome bonus$525Total$525Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.

Welcome offer
35,000 points
Apply Now

on RBC's website

The RBC Avion Visa Infinite Business Card is the premium business credit card in the RBC Avion Rewards program, designed for business owners who travel.

Get 35,000 bonus Avion points upon approval.

What the card gives you:

  • 1.25 RBC Rewards points per dollar in net purchases charged to your card, up to $75,000 per year, then 1 point per dollar beyond that
  • A Visa Airport Companion membership, which opens access to more than 1,200 airport lounges worldwide, at US$32 per person per visit
  • Avion points that are redeemable for travel with a great deal of flexibility, with no blackout dates
  • Additional cards for your employees, at $75 each, up to 9 cards

The annual fee is $175. The annual interest rate is 19.99% on purchases and 22.99% on cash advances. A 2.5% conversion fee applies to foreign currency transactions.

Annual fee

Primary card$175
Additional card$75

Annual income required

Individual$60,000
Household$100,000

Conversion fees

2.5%

Earning rate

  • 1.25xAll spending

Value

1st Year Value$856
2nd Year Value$305

Transfer partners

  • American Airlines AAdvantageAirline

Card benefits

Concierge service24/7

Travel insurance

Travel medical (under 55)Included
Travel medical (55-64)Included
Travel medical (65+)Included
Trip CancellationUp to $1,500
Trip InterruptionUp to $5,000
Hotel BurglaryUp to $2,500

Purchase protection

Purchase ProtectionIncluded
Extended Warranty+1 years
Mobile DeviceUp to $2,000 / 1 years
Auto Rental CollisionUp to $65,000 / 48 days

RBC Avion Visa Business Card

BusinessRBCRBC Avion Rewards - Elite
Annual fee
$120
Our valuation
$300

Milesopedia first-year estimateFirst-year valueWelcome bonus$300Total$300Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.

Welcome offer
20,000 points
Apply Now

on RBC's website

  • 20,000 welcome points upon enrolment
  • Earn 1 RBC Rewards point for every $1 spent in net purchases with your card
  • No blackout periods or seat restrictions

The RBC Avion Visa Business Card is a business credit card in the RBC Avion Rewards program, designed for self-employed workers and business owners who want to earn travel points on their business spending.

You earn Avion points, redeemable for travel with a great deal of flexibility, and the welcome offer can reach 20,000 Avion points on approval. The annual fee is $120.

The annual interest rate is 19.99% on purchases and 22.99% on cash advances. A 2.5% conversion fee applies to foreign currency transactions.

Annual fee

Primary card$120
Additional card$50

Annual income required

Individual$0
Household$0

Conversion fees

2.5%

Earning rate

  • 1xAll spending

Value

1st Year Value$585
2nd Year Value$264

Transfer partners

  • American Airlines AAdvantageAirline

Travel insurance

Trip CancellationUp to $1,500
Trip InterruptionUp to $5,000
Hotel BurglaryUp to $2,500

Purchase protection

Purchase ProtectionIncluded
Extended Warranty+1 years
Auto Rental CollisionUp to $65,000 / 48 days

RBC Visa Business Card

BusinessRBC
Annual fee
$12
Welcome offer
No current welcome offer
Apply Now

on RBC's website

The RBC Visa Business Card is a simple, affordable business credit card, with a $12 annual fee per card. It is designed to help businesses separate their professional expenses from their personal finances and keep track of them.

You manage your account anytime online or through the mobile app: bill payments, transfers, transaction tracking and account updates at an ATM. The card does not include a rewards program.

The annual interest rate is 20.99% on purchases and 22.99% on cash advances. A 2.5% foreign transaction fee applies to purchases made in a foreign currency.

Annual fee

Primary card$12
Additional card$0

Annual income required

Individual$0
Household$0

Conversion fees

2.5%

Earning rate

  • 0xAll spending

Value

2nd Year Value$-12

Purchase protection

Purchase ProtectionIncluded
Extended Warranty+1 years

Other RBC bank accounts for SMEs

If your business needs become more complex, or if you carry out both paper and electronic transactions, you may want to consider another RBC banking account, such as the RBC Summum Package for Business.

For more information, please visit the « Business » section of our website.

Bottom Line

In short, RBC offers an affordable bank account for businesses. The RBC Digital Choice Package for Business, priced at just $6/month, includes unlimited electronic transactions and unlimited Moneris deposits. It’s the ideal chequing account for your SME if you mainly use digital banking services for your transactions. You can also combine the benefits of this bank account with a corporate credit card, such as the RBC Avion Visa Infinite Card, to earn points RBC Avion Rewards on business expenses.

To discover other bank account offers, visit our best account offers page.

How do I open my RBC business account?

To open your RBC business account, such as the RBC Digital Choice Business Account, you must start by completing your online application. You will then have an in-branch appointment to validate your documents and complete the account opening process.

What type of bank account should I choose for my business?

If you are a business owner, you must open a business account. At RBC, you have several choices of business accounts, including the RBC Digital Choice Business Account, which is an ideal solution for SMEs.

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American ExpressMarriott Bonvoy
Annual fee
$120
Our valuation
$990

Milesopedia first-year estimateFirst-year valueWelcome bonus$990Total$990Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.

Welcome offer
Up to 110,000 points

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This offer ends on September 22, 2026. The annual fee is $120, and there is no annual fee on Additional Cards, so you can add a partner or a family member at no extra cost.

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American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, we may receive compensation from American Express, which can be in the form of monetary payment.

Annual fee

Primary card$120
Additional card$0

Annual income required

Individual$0
Household$0

Conversion fees

2.5%

Earning rate

  • 5xMarriott Bonvoy hotels
  • 2xAll spending

Value

1st Year Value$1,437
2nd Year Value$312

Travel insurance

Delayed BaggageUp to $500
Lost BaggageUp to $500
Flight DelayUp to $500
Hotel BurglaryUp to $500
Travel AccidentUp to $500,000

Purchase protection

Purchase ProtectionIncluded
Extended Warranty+1 years
Auto Rental Collision (primary)Up to $85,000 / 48 days

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Our reviews and rankings are based on an objective assessment. Advertisers do not influence our content. We may receive compensation through some links; our analysis and opinions remain independent.