RBC Express Business Chequing: Operating Accounts Built for Canadian Commercial Volume

RBC Express business chequing is the operating-account backbone for 75,000+ Canadian commercial clients — from family-run retailers in Charlottetown to national logistics operators running thousands of daily EFT items. Every tier connects to the RBC Express treasury sweep, supports CAD and USD side-by-side and posts to the same 60-field reporting engine.

This is chequing, not checking — Canadian business banking with Canadian spelling, Canadian clearing and Canadian deposit insurance. RBC Express chequing accounts are CDIC-eligible deposits at a Schedule I bank regulated by OSFI. Sub-accounts, per-item pricing and overdraft facilities all surface in the same authenticated dashboard.

Open an Account See Treasury Tools

RBC Express business chequing dashboard with tier comparison, CAD and USD sub-account balances and sweep configuration

Tier	Monthly Fee	Included Items	Best For
Basic Business Chequing	$6.00 CAD	10 items; additional at $1.25 each	Sole proprietors, startups, holding companies <50 monthly items
Right Size Business Chequing	$25.00 CAD (auto-adjusts)	Self-tiering to actual volume 0-400 items	Growing SMBs with volatile monthly transaction volume
Night & Day Plus	$55.00 CAD	60 items + unlimited night-depository deposits	Hospitality, retail and convenience operators with cash closings
Flex Business Chequing	$100.00 CAD	175 items + 15 deposits + sub-accounts	Mid-market operators running 500-1,500 items monthly
USD Business Chequing (companion)	$10.00 USD	10 items; $1.75 USD per additional	Cross-border importers/exporters, USD billing entities

Per-Item Pricing Transparency

Every cheque, EFT debit, EFT credit, wire debit, wire credit, deposit item and Interac e-Transfer for Business item carries a published per-item fee. The RBC Express month-end statement itemises each charge by account, sub-account and user-posted memo. No bundled charges, no surprise interchange debits — line-item disclosure aligned with FCAC transparency expectations.

Sub-Account Structures

RBC Express master-plus-sub hierarchies run up to 99 sub-accounts under one header. Use them for department tracking, project ledgers, trust-like client separation (in regulated professions), location-level P&L or payroll versus operating segregation. Every sub-account inherits the master's per-item rates unless repriced on the relationship.

Interest Tiers on Idle Balances

Chequing balances above the tier threshold earn tiered interest posted monthly. Rates step at $25K, $100K, $500K and $2M. Where the treasury sweep is configured, balances above the target move overnight to a Business Investment Account at a higher yield and return before the opening cut-off — no manual transfer, no lost working capital.

USD Multi-Currency Companion

A USD Business Chequing Account sits alongside every CAD operating account, funded via RBC Express FX at institutional spreads or via direct USD wires from US customers. USD cheques clear through the US correspondent network. USD per-item fees post in USD. No FX conversion loss on incidental USD flows.

EFT, Wire and Bill Payment Debits

Every EFT file originated through RBC Express debits the designated chequing sub-account. Lynx and SWIFT wires debit the same chequing account under dual-control approval. Bill payments to CRA, provincial tax authorities and 3,800+ Canadian billers pull from chequing. All debits post to a single statement with source-system identifiers for easy GL reconciliation.

Payments Canada AFT credits to payroll and supplier beneficiaries settle next-business-day with same-day origination cut-off at 9:00pm ET. The RBC Express dashboard shows the expected debit date, value date and status for every item.

RBC Express chequing account statement view with EFT, wire and bill payment line items and running balance

RBC Express treasury sweep configuration with target balance, sweep source sub-account and Business Investment Account destination

Treasury Sweep Into Yield Accounts

The RBC Express treasury sweep protects chequing from idle-balance drag. Configure a target balance (e.g. $250K) on the master; anything above sweeps overnight into a Business Investment Account or laddered GIC. Mornings reverse — working capital returns before the 6:30am ET opening cut-off. The sweep respects sub-account hierarchies so departmental floats stay where they belong.

Canadian federal and provincial source-deduction remittances require a clean trust-like separation. The RBC Express sub-account model supports that segregation without opening separate chequing accounts.

Reporting, Reconciliation and ERP

RBC Express chequing accounts export to BAI2, MT940, CSV and PDF. BAI2 type codes cover every debit and credit category the chequing account produces — cheque paid (type 475), EFT debit (type 455), wire out (type 495) and so on. Custom reports pull from 60+ fields including FX rate, beneficiary BIC and GL tag. Scheduled 7:00am ET delivery of BAI2 keeps treasury workstations (Kyriba, ION, SAP TRM) synchronised before the business day.

RBC Express chequing BAI2 and MT940 export configuration with scheduled 7am delivery

Account Snapshot

RBC Express business chequing runs four tiers — Basic, Right Size, Night & Day Plus and Flex — priced on monthly items and deposit volume.
Every CAD chequing account provisions a USD companion for multi-currency operations without FX on incidental flows.
Sub-account hierarchies scale to 99 children under one master; each inherits per-item pricing and CDIC ownership by default.
The RBC Express treasury sweep moves end-of-day balances above target into a Business Investment Account overnight.
Deposits are CDIC-eligible to $100,000 CAD per depositor per ownership category at Royal Bank of Canada.
Intraday balances refresh every 15 minutes during the Canadian business day inside RBC Express.
BAI2 and MT940 export at 7:00am ET feeds treasury workstations and ERPs.

Startups & Sole Proprietors

Basic Business Chequing on RBC Express costs $6 CAD monthly and covers the first 10 items. Holding companies, consultancies and new incorporations that rarely exceed 30 items settle into Basic and upgrade when payroll or AP volume grows.

Retail, Hospitality & Cash Intensive

Night & Day Plus handles unlimited night-depository deposits — the staple for restaurants, convenience stores and independent retailers with daily cash closings. RBC Express posts deposits with location and operator memos for location-level P&L.

Mid-Market & Multi-Entity

Flex Business Chequing with sub-account hierarchies supports mid-market operators running 500-1,500 items monthly across departments or locations. RBC Express rolls sub-accounts to the master for cash concentration and GL posting.

Chequing account pricing across tiers is subject to periodic review by Royal Bank of Canada. Quoted rates are representative of the RBC Express commercial relationship and may differ from personal chequing pricing. Mid-market and corporate clients frequently negotiate bundled pricing that blends chequing per-item fees, wire volumes, FX spreads and EFT processing — ask your RBC Account Manager about relationship pricing inside RBC Express.

Business Savings & GIC

High-yield savings, cashable and non-redeemable GICs, laddering and sweep destinations for idle chequing balances inside RBC Express.

Treasury Management

Zero-balance accounts, sweeps, positive pay, lockbox and controlled disbursement running on top of RBC Express chequing.

Foreign Exchange

Real-time FX in 130+ pairs with rate-locking, feeding USD chequing and cross-border settlement via RBC Express.

Business Credit Cards

Avion Visa Infinite Business, Cash Back MasterCard and Commercial Visa cards that settle against your RBC Express chequing master.

Business Loans

Operating lines, term loans, commercial mortgages and CSBF facilities linked to your RBC Express operating accounts.

EFT Payments

Payments Canada AFT batch origination for payroll and supplier files debiting RBC Express chequing with dual-control release.

Transaction Reporting

60-field reports, BAI2, MT940 and CSV exports, scheduled 7:00am ET delivery — built for RBC Express chequing reconciliation.

What business chequing tiers does RBC Express support?

RBC Express supports four business chequing tiers — Basic Business, Right Size, Night & Day Plus and Flex — plus USD companion accounts. Details at Treasury Management and Transaction Reporting. For deposit insurance context see cdic.ca.

Does RBC Express business chequing support USD?

Yes. A USD Business Chequing Account provisions alongside every CAD operating account. USD cheques clear through the US correspondent network and USD per-item fees settle in USD. FX between accounts uses RBC Express FX at institutional spreads.

How does the RBC Express treasury sweep work?

The RBC Express treasury sweep moves end-of-day balances above a target into a Business Investment Account and reverses before the opening cut-off. Configured by the Company Administrator inside RBC Express.

Are RBC Express chequing deposits CDIC insured?

Yes. CAD and USD deposits in RBC Express business chequing accounts are eligible for CDIC coverage up to $100,000 per depositor per ownership category at Royal Bank of Canada. See cdic.ca.

Can I open sub-accounts under one RBC Express chequing master?

Yes. RBC Express supports up to 99 sub-accounts under one master with departmental, location or project reporting. Cash concentration runs through the master. User permissions scope per sub-account.

Open an RBC Express Business Chequing Account

A Commercial Banking advisor will scope the right chequing tier, provision sub-accounts and configure the treasury sweep against your RBC Express relationship.

Contact an Account Manager