The Business Advantage Account is the perfect complement to traditional bank accounts, allowing business owners like you to earn high interest on your excess or idle cash. You'll also get:
- High interest on every dollar in your account
- Easy access to your money with online and mobile banking
- Free deposits and bank-to-bank transfers between your accounts at other Canadian banks
Is our Business Advantage Account right for you?
Yes, if you:
- Own a small or medium-sized business
- Have a primary operating account at another Canadian bank
- Want to earn high interest on your idle cash without locking it in
Rates
Earn high interest rate on all your money:
Fees
No monthly fees, and no fees to deposit or transfer money. Other services and fees include:
| Services | Fees |
|---|---|
| Transferring money from your account at another Canadian bank | No charge |
| Direct deposit | No charge |
| Mobile cheque deposit | No charge |
| Receiving an Interac e-Transfer®3 | No charge |
| Mail in cheque | No charge |
| Services | Fees |
|---|---|
| Transferring money to your account at another Canadian bank | No charge |
| Pre-authorized withdrawal | No charge |
| Bill Payment | $1.00 |
| Sending an Interac e-Transfer | $1.00 |
| Cheques | $1.50 |
Additional services such as wire transfers, stop payments, and official cheques (in lieu of certified cheques) are also available. Please review our services and fee guide (PDF) for a complete list of all services and associated fees.
- Fees are subject to change with at least 30 days of prior written notice. If you don’t receive paper statements, you can find all fee information online.
- All fees are presented on a per item basis, unless otherwise stated.
- Charges are automatically applied to your account.
1 Interest is calculated daily on the total daily balance and paid monthly. Rate is subject to change without notice.
2 Evolvespire Bank is a member of the Canada Deposit Insurance Corporation (CDIC), which means your deposits are eligible for CDIC deposit insurance protection. Visit cdic.ca for information on eligible deposits.
3 ®Trademark of Interac Corp. Used under licence. Please review our Interac e-Transfer limits.
Here's how to deposit money into your account:
- Transfer money from your account at another Canadian bank with online, mobile, or telephone banking
- Deposit a cheque with our mobile banking app
- Send a cheque by mail
- Deposit money at a Royal Bank branch via NDDS slips
- Receive money with Interac e-Transfer
Here's how to withdraw money from your account:
- Transfer money to your account at another Canadian bank with online, mobile, or telephone banking
- Pay bills with online or telephone banking
- Set up pre-authorized payments
- Write a cheque
- Send money with Interac e-Transfer
The following business types are eligible:
- Corporations
- Partnerships
- Trusts
- Estates
- Associations, Societies, or Lodges
- Community accounts (i.e., hockey clubs, etc.)
- Condominium corporations
- Trade or labour unions
- Charities, unincorporated charitable organizations, or not-for-profit organizations
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