RBC Royal BankBusiness Chequing

RBC Digital Choice Business Account

Our take: the default first business account for a Canadian sole proprietor or small company that banks online — $6 a month, unlimited electronic transactions, and no minimum balance to maintain.

Included each monthUnlimited electronic debit and credit transactions, plus 10 outgoing Interac e-Transfers.

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Our review

RBC’s Digital Choice Business Account is built for a business that does its banking through the app rather than a branch. For $6 a month you get unlimited electronic debit and credit transactions with no minimum balance, which is a genuinely different proposition from the pay-per-transaction accounts several competitors sell at the same price. The trade-off is that it is a digital account: assisted and paper transactions are charged separately, and cash handling is priced under RBC’s business fee schedule rather than included.

At a Glance

Monthly fee

no minimum balance

Electronic transactions

Unlimited

debit and credit

Interac e-Transfers

10 per month

outgoing

Receiving e-Transfers

No charge

Cheque deposits

Unlimited

by mobile and ATM

Interest paid

None

not an interest-bearing account

Fees confirmed on RBC’s product page on September 25, 2026.

Pros and Cons

What works

Unlimited electronic debit and credit transactions at the lowest big-bank price point, which very few $6 accounts actually include.
No minimum balance to open or maintain, so none of your working capital is locked up to avoid a fee.
Receiving Interac e-Transfers is free, and 10 outgoing transfers a month are included.
Unlimited cheque deposits by mobile or ATM, which suits businesses still paid by cheque.

What to watch

Ten outgoing e-Transfers a month is modest for a business that pays contractors or suppliers that way.
Assisted and paper transactions are charged separately — this is priced as a digital account.
RBC does not publish the cash deposit rate on the product page; it is set out in the business fee schedule, so confirm it if you handle cash.
No interest is paid on the balance, so idle cash earns nothing here.

What It Costs

$6Monthly account fee, with no minimum balance option to waive it

$0Unlimited electronic debit and credit transactions

10 includedOutgoing Interac e-Transfers each month

See fee scheduleCash deposits, assisted transactions and paper items are priced separately

A business that pays 15 suppliers a month by e-Transfer would exceed the included 10 and pay per transfer beyond that — worth checking against BMO’s 6 and National Bank’s 12 before deciding.

How Your Money Is Protected

RBC Royal Bank is a CDIC member institution. Eligible deposits are insured by the Canada Deposit Insurance Corporation up to $100,000 per depositor, per insured category. Business deposits are eligible on the same basis as personal deposits.

Who It’s For

A good fit if

You run your banking through the app and rarely visit a branch.
You want unlimited electronic transactions without keeping a large balance on deposit.
You are a sole proprietor or small company opening a first business account.

Look elsewhere if

You deposit cash regularly — cash handling is charged and the rate is not published on the product page.
You send more than about 10 e-Transfers a month and want them included.
You want your operating balance to earn interest; this account pays none.

Not Sure? Accounts People Compare It With

TD Business Digital Account

Pick this instead if you want the same $6 and 10 e-Transfers but prefer TD, and you can accept $5.00 per $1,000 on cash deposits.

Fee $6/mo10 free e-Transfers, unlimited electronic

BMO Essential Business Account

Pick this instead if you want the cheapest big-bank plan at $5 and can live with 6 e-Transfers a month.

Fee $5/moCheapest big-bank plan, 6 e-Transfers

Venn Business Account

Pick this instead if you want no monthly fee at all, free e-Transfers both ways and 2% on your balance — and you are not in Quebec.

Fee $0/mo2% interest, free e-Transfers both ways

RBC Digital Choice Business Account

Fees confirmed September 25, 2026

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Jen, founder of MoneyMint

Reviewed by Jen. We verify every rate, fee and account term against the institution’s own published material before we publish it, and we re-check on a set schedule.

Fees and account terms in this review were confirmed on the institution’s own site on September 25, 2026. MoneyMint does not currently have an affiliate relationship with this institution. Account fees and features change without notice — confirm current terms on the institution’s own page before you open an account. This is general information, not financial, legal or tax advice.

Frequently Asked Questions

How much does the RBC Digital Choice Business Account cost?

$6 a month. RBC does not offer a minimum-balance waiver on this account, so the fee applies regardless of your balance — but there is also no minimum balance requirement to maintain the account.

How many transactions are included?

Unlimited electronic debit and credit transactions, plus unlimited cheque deposits by mobile and ATM. Ten outgoing Interac e-Transfers are included each month; receiving e-Transfers is free.

Can I deposit cash into this account?

Yes, but cash handling is not included in the $6 fee. RBC does not state the rate on this product page — it is set out in the business account fee schedule, and RBC’s own published materials have quoted different figures, so confirm the current rate with RBC before relying on it.

Does the account pay interest?

No. RBC does not advertise an interest rate on this account. If you hold a meaningful operating balance, compare it against a business account that pays interest, or keep surplus cash in a separate business savings account.

Can a sole proprietor open this account?

Yes. Canadian banks generally open business accounts for sole proprietors as well as incorporated companies, though the documents differ — a sole proprietor typically needs a business name registration, while a corporation needs its incorporation documents. Check RBC’s current requirements before you apply.