Business Checking Tailored To You
At Royal Bank, we understand that every business has unique banking needs. Our Business Banking Team has worked with businesses of all sizes to create efficient accounts so you can focus on what matters most - running your business! Set up an account with basic check-writing capabilities or add additional options at little or no cost.
Add E-Statements, Debit and Credit Card(s), Online Banking, Mobile Banking, Bill Pay, enhanced Cash Management features and more to any of our accounts. Compare accounts and enroll online, in-person or over the phone.
We would be happy to connect you with a member of our Business Banking Team to discuss your needs and answer any questions you may have.
Business Checking Account Comparison Chart
| Item |
Simply Business |
Business Premier |
Business Advantage |
| Best Fit For: |
Businesses of any size |
Businesses with a larger balance and greater account activity |
Businesses with a larger balance who want a return on investment |
| Opening Deposit Amount |
$25 |
$500* |
$25,000* |
| Minimum Required Balance |
N/A |
$500 |
$25,000 |
| Below Minimum Balance Fee |
N/A |
$10/mo when daily balance falls below minimum at any time during the statement cycle |
$20/mo when daily balance falls below minimum at any time during the statement cycle |
| Withdrawals Allowed |
Up to 100 Debit Transactions/Mo |
Unlimited |
Unlimited |
| Excess Withdrawal Fee |
$10/mo if over 100 debit transactions any time during the statement cycle |
N/A |
N/A |
Debit Card Fee
|
NO CHARGE
with 5+ transactions/mo; $1/mo if less than 5 transactions/mo |
NO CHARGE
with 5+ transactions/mo; $1/mo if less than 5 transactions/mo |
NO CHARGE |
|
Checks*
|
|
View Options |
View Options |
| Interest-Bearing
|
N/A
|
N/A
|
Average Daily Balance
Compounded monthly; No interest will be earned when the average daily balance falls below minimum at any time during the statement cycle
|
Online Banking
(Enhanced Features priced separately)
|
FREE
|
FREE
|
FREE
|
| Mobile Banking |
FREE
|
FREE
|
FREE
|
| Telephone Banking |
FREE
|
FREE
|
FREE
|
| Statements & E-Statements |
E-Statements Required
$5/mo for each paper statement requested
|
Enroll in E-Statements to receive a one-time $10.00 credit. 3-month enrollment required or receive a paper statement upon request (complimentary). $5/mo for each additional paper statement requested.
|
Enroll in E-Statements to receive a one-time $10.00 credit. 3-month enrollment required or receive a paper statement upon request (complimentary). $5/mo for each additional paper statement requested.
|
Statement Images
|
|
Yes
|
Yes
|
*Cost of checks will be withdrawn from the balance in the account. To avoid incurring a minimum balance fee, the initial deposit must include cost of checks.
