Skip to main content

Important Information

Canada Emergency Business Account (CEBA):

The online-only enrollment process to participate in the Government of Canada’s Canada Emergency Business Account (CEBA) is now live. To enroll for CEBA, log into your RBC Online Banking for Business. The online enrollment process is only available through this platform. If you are not registered for online banking, click here to enroll in RBC Online Banking for Business.

If you are an RBC Express client, please contact your RBC Account Manager for separate instructions to enroll for CEBA.

Detailed CEBA eligibility, pre-enrollment actions and other FAQs can be found below.

If you are self-employed or a contract worker, please refer to the Government of Canada’s Canada Emergency Response Benefit. For additional details on the Canada’s COVID-19 Economic Response Plan to support individuals and businesses, click here.

Supporting your employees' health:

Through RBC's partnership with Wello – a leading Canadian virtual healthcare company – we are making it easier for you to provide important COVID-19 screening information, timely access to physicians and nurse practitioners for health advice, and resources to support general health needs, including prescriptions, diagnostic and specialist referrals. Wello can support your employees' physical and mental health needs, wherever they are. If you are an RBC business client, you can access more information on Wello by logging into your RBC Online Banking for Business and navigating to the ‘RBC Offers’ tab.

For those who are self-employed or contract workers, please refer to the Government of Canada’s Canada Emergency Response Benefit for further support and details.

For businesses clients, we are assessing the needs of business owners who have been affected by COVID-19 on a case-by-case basis to provide relief solutions that are tailored to their circumstances.

Relief support may include:

  • Business loan payment deferrals
  • Increases to operating line of credit limits
  • Waiving of credit card minimum payments
  • Waived setup fees for new enrollments to cash management solutions
  • Waived Stop Payments fee

If your business is experiencing financial hardship as a result of COVID-19, please contact your advisor or call our Advice Centre at 1-800-ROYAL-20 to discuss your options. Due to extremely high call volumes, please expect delays.

For immediate financial relief: Our call centres are experiencing extremely high call volumes. For clients enrolled in RBC Royal Bank Online Banking immediate access to request financial relief is available, please use our self-serve options found in RBC Royal Bank Online Banking. Detailed instructions are below:

  1. Log into Online Banking.

  2. From the Account Summary page, select your credit card account.

  3. Select the “Need to defer a minimum payment due to COVID-19?” link above the name and number of your credit card, and follow the instructions.

You can use this form to request us to temporarily waive the requirement for you to make the minimum payment on your credit cards for up to two months (deferring your payment). This will provide some short-term financial relief to you during the COVID-19 situation.

Interest charges will continue to accrue at your current annual interest rates during the relief period and will continue to be added to your outstanding balance at the end of each billing cycle. This means your outstanding balance on your credit card will increase during that period. Please note that during the relief period you always have the option to make one or more payments toward your outstanding balance. Please also note that interest will not be charged on the accrued interest.

If you chose BalanceProtector on your credit card, you may be covered due to loss of income. Please contact the insurer, Assurant Solutions directly at 1-888-896-2766, or visit www.BenefitActivations.ca to submit a claim. Please note that BalanceProtector premiums will continue to be charged to your account and increase your outstanding balance. Interest will not be charged on BalanceProtector premiums.

For longer term relief (Up to 6 months): Should you require additional financial relief beyond two months, please use our online booking tool to schedule a time to speak with one of our advisors by phone.

Not enrolled in RBC online banking? Click here for instant enrolment.

Credit Card Interest Relief: Effective April 6, 2020, RBC will reduce credit card interest charges by 50% for personal and small business clients receiving credit card minimum payment deferrals. The 50% relief will automatically be applied to your statement. Click here for details.

Putting the health and safety of our clients and employees first, RBC announced plans to temporarily close select branches nationally. Please see the full list of closed branches. We ask that you check the branch locator for the most current information.

Staying Connected

We remain committed to ensuring that your business needs are met. While select branches are closed, our advisors and solutions remain available to you across a variety of channels. Given the current situation, we are experiencing extremely high call volumes.

As always, the RBC Mobile App and RBC Online Business Banking solutions are safe, easy-to-use and available 24/7.

You can:

  • View account balances, transaction history, and your RBC business credit card account information.
  • Send and receive money with simple and easy solutions like Interac® e-Transfer and Interac® Request Money. Sign up for the Autodeposit feature if you haven’t already so that the Interac e-Transfers you receive are safely and directly deposited into your account, and your funds are immediately available to you.
  • Make bill payments online so that you can eliminate cheques and reduce the administrative time.
  • Digitally deposit cheques using the RBC Mobile app and smartphone camera when it’s most convenient to you.
  • Manage your other banking needs.

For more information on ways to bank with RBC, including how to sign up for Online Business Banking, RBC Express or to download the RBC Mobile App click here.

Frequently Asked Questions

Government of Canada's Relief for Business

The Government of Canada recently announced that it will be providing the Canada Emergency Business Account to support Canadian businesses that have been adversely affected by COVID-19. Eligible businesses will receive a $40,000 line of credit loan for immediate financial support to cover short term operating expenses, payroll and other non-deferrable expenses which are critical to sustain business continuity.

The Canada Emergency Business Account details are as follows:

  • It’s a $40,000 loan to help eligible businesses pay for operating expenses, payroll and other non-deferrable expenses which are critical to sustain business continuity.
  • Until December 31, 2020, the Canada Emergency Business Account will be funded as a revolving line of credit for $40,000.
  • After December 31, 2020, any outstanding balance on the revolving $40,000 line of credit will be converted into a non-revolving 5‑year term loan maturing on December 31, 2025, at which time the balance must be paid in full.
  • No interest applies until January 1, 2023.
  • Commencing on January 1, 2023, interest accrues on the balance of the term loan at the rate of 5% per annum, payable monthly on the last day of each month.
  • If you pay 75% of the balance of the term loan (as at January 1, 2021), on or before December 31, 2022, the remaining balance of your term loan will be forgiven. For example, if your balance is $40,000 on January 1, 2021 and you repay $30,000 on or before December 31, 2022, the remaining $10,000 will be forgiven.
  • If you do not repay 75% of the balance of the term loan (as at January 1, 2021) on or before December 31, 2022, the full loan balance and all accrued and unpaid interest will be due and payable on December 31, 2025.
  • For complete details on the CEBA terms and conditions, click here.

The CEBA enrollment process is now open. RBC business clients should log into their RBC Online Banking for Business for instructions. Please note that the CEBA enrollment can only be completed online.

Preparing for Enrollment

In advance of CEBA enrollment, you must do the following 4 things:

  • Sign up for RBC Online Banking for Business if you have not already done so. The online enrollment tool and funds are only available through this platform. If you are not registered for RBC Online Banking for Business, click here to enroll.
  • Update your email and contact details on your RBC Online Banking for Business profile. We will need this information to send you post-enrollment communications.
  • Locate your organization’s 2019 T4 Summary of Remuneration Paid statement. You can also contact the Canada Revenue Agency to have them re-issue your organization’s 2019 statement.
  • Confirm that the person enrolling for CEBA has the authority to attest on behalf of the organization and bind the organization to the terms of the CEBA loan agreement.

If you are an existing RBC business banking client, click here to find out how to enroll in RBC Online Banking for Business.

Yes. Please reach out to your RBC Account Manager for more details.

Eligibility and CEBA Enrollment

To be eligible, you must be able to attest ALL of the following statements are true and correct, as required by the Government of Canada.

Statement of Attestation

  • I have the ability and authority to bind the organization.
  • The organization is a Canadian operating business in operation as of March 1, 2020.
  • The organization is not a holding company.
  • The organization has a federal tax registration.
  • The organization has an active business banking account at Royal Bank of Canada, which is its primary financial institution. This business banking account was opened on or prior to March 1, 2020, and was not in arrears on existing borrowing facilities, if applicable, with Royal Bank of Canada by 90 days or more as at March 1, 2020.
  • The organization’s total employment income paid in the 2019 calendar year was between $50,000 and $1,000,000 CAD.
  • The organization can demonstrate its total employment income paid in the 2019 calendar year by presenting a 2019 T4 Summary of Remuneration Paid when requested upon audit by the Government of Canada or any of its agents.
  • The organization has not previously used the Canada Emergency Business Account program and I am not enrolling, nor is anyone else enrolling or applying for support under, the Canada Emergency Business Account program for the organization at any other financial institution.
  • I understand that enrolling for the Canada Emergency Business Account program at more than one financial institution for the same organization may result in ineligibility under the Canada Emergency Business Account program, default under the facility in respect of which this attestation is being provided, prosecution or other enforcement measures available at law or otherwise.
  • The organization agrees to participate in post-funding surveys conducted by the Government of Canada or any of its agents.
  • The organization acknowledges its intention to continue to operate its business or to resume operations.
  • Per the requirements of the Canada Emergency Business Account program as set out by the Government of Canada, the organization confirms that:
    • It is not a government organization or body, or an entity owned by a government organization or body;
    • It is not a union, charitable, religious or fraternal organization or entity owned by such an organization or if it is, it is a registered T2 or T3010 corporations that generate a portion of its revenue from the sales of goods or services;
    • It is not an entity owned by individual(s) holding political office; and
    • It does not promote violence, incite hatred or discriminate on the basis of sex, gender, sexual orientation, race, ethnicity, religion, culture, region, education, age or mental or physical disability.
  • Per the requirements of the Canada Emergency Business Account program, as set out by the Government of Canada, I acknowledge that the funds from this loan shall only be used by the organization to pay non-deferrable operating expenses of the organization including, without limitation, payroll, rent, utilities, insurance, property tax and regularly scheduled debt service, and may not be used to fund any payments or expenses such as prepayment/refinancing of existing indebtedness, payments of dividends, distributions and increases in management compensation.
  • I acknowledge that RBC will rely upon the accuracy of this attestation in making loans and advances to the organization pursuant to the Canada Emergency Business Account program
  • For the purpose of verifying my organization’s eligibility for the Canada Emergency Business Account program, I hereby authorize Export Development Canada, as my representative with the Canada Revenue Agency, to access any required payroll information.
  • I acknowledge and agree that an audit may be conducted by the Government of Canada or any of it agents to ascertain the veracity of this attestation and the eligibility of the organization under the Canada Emergency Business Account program.

The enrollment process for RBC business clients will be online and only accessible through RBC Online Banking for Business. If you are not registered for online banking, click here to enroll in RBC Online Banking for Business.

If you are an RBC Express client, please contact your RBC Account Manager for separate instructions to enroll for CEBA.

No. Businesses must enroll for the Canada Emergency Business Account at their primary financial institution where they have an existing business banking account and cannot apply at more than one financial institution. Doing so may result in legal prosecution by the federal government.

Only one person from the organization can agree to the legal documents in the online enrollment process for the Canada Emergency Business Account. The person enrolling your organization must have the legal authority to attest on behalf of the organization and legally bind the organization to the terms of the Canada Emergency Business Account loan agreement. For example, if more than one person is normally required to sign legal documents for your organization, whether under your internal requirements or your agreement with RBC, your organization has to ensure the proper documentation, like a resolution to waive the requirement for multiple signatories for the purpose of enrolling the organization in the Canada Emergency Business Account, is made to legally permit a designated person to enroll and sign on behalf of the organization. If the other usual signatories for your organization agree, then the designated person can go ahead and enroll.

No. The Canada Emergency Business Account is only available to business clients who have been a registered operation on or before March 1, 2020 with an RBC business operating account. The government has announced additional relief measures to support sole proprietors. Further information is available at the Government of Canada’s COVID-19 Economic Response Plan site.

Yes, you can still participate in the enrollment process if you are a current borrower of other RBC lending solutions.

Yes, you can still participate in the enrollment process for the Government’s Canada Emergency Business Account.

Each business entity may enroll for CEBA. Each business must individually meet the eligibility criteria.

No. The CEBA at RBC is automatically funded with a $40,000 line of credit until December 31, 2020. Clients may choose to utilize the full amount or less. After December 31, 2020, any outstanding balance on the revolving $40,000 line of credit will be converted into a non-revolving 5-year term loan maturing on December 31, 2025, at which time the balance must be paid in full.

If you require more than $40,000 offered by CEBA, please speak with your RBC Account Manager or Advice Centre to explore other RBC solutions to support your additional financing needs. Details on additional government initiatives to support businesses, including the Business Development Bank of Canada (BDC) Co-Lending Facility and the Export Development Canada (EDC) Business Credit Availability Program will also be available in the coming weeks.

If you only have access to RBC Express, please contact your RBC Account Manager for separate instructions to enroll for CEBA.

For all other RBC business clients, the enrollment process can only be completed online by logging into RBC Online Banking for Business. If you are not registered for online banking, click here to enroll in RBC Online Banking for Business. Please note that while our RBC Account Managers and Advice Centre advisors are available to help answer your questions about CEBA, they are not authorized to fulfill enrollment requests.

Once you’ve submitted your enrollment request, it will be reviewed by RBC and the Government of Canada. If you qualify for CEBA, the funds will appear on your RBC Online Banking for Business or RBC Express profile within 5 business days.

You will not be able to update your information during the enrollment process. Before you start enrolling, you can update your contact details through your RBC Online Banking for Business profile. If you are not registered for online banking, click here to sign up for RBC Online Banking for Business.

The funds will appear on your RBC Online Banking for Business or RBC Express profile within 5 business days of your submission. We will notify you once the funds are available. Please ensure that your email and contact details are up to date on your RBC Online Banking for Business or RBC Express profile.

When you enroll for CEBA, a credit card is not issued.

You can transfer up to $10,000 daily into your RBC Business Deposit Account.

There are a number of other relief measures that are being provided by the Government of Canada through its Canada’s COVID-19 Economic Response Plan to support individuals and businesses. Additional government relief measures offered through the Business Development Bank of Canada (BDC) and the Export Development Canada (EDC) can be found here. Further details on eligibility and enrollment details are forthcoming.

RBC is also offering a number of relief solutions for business clients affected by COVID-19. We are assessing the needs of businesses on a case-by-case basis to provide relief solutions that are tailored to their circumstances. Relief support may include:

  • Business loan payment deferrals
  • Increases to operating line of credit limits
  • Request a deferral of your minimum payment obligations on your credit cards
    • Credit Card Interest Relief: Effective April 6, 2020, RBC will reduce credit card interest charges by 50% for personal and small business clients receiving credit card minimum payment deferrals. The 50% relief will automatically be applied to your statement.
  • Waived setup fees for new enrollments to cash management solutions
  • Waived Stop Payments fee
If your business is experiencing financial hardship as a result of COVID-19, please contact your advisor or call our Advice Centre at 1-800-ROYAL-20 to discuss your options.

Additional government relief measures offered through EDC and BDC can be found here. Further details on eligibility and enrollment details are forthcoming.

If you require more than $40,000 offered by CEBA, please speak with your RBC Account Manager or Advice Centre to explore other RBC solutions to support your additional financing needs. Details on additional government initiatives to support businesses, including the Business Development Bank of Canada (BDC) Co-Lending Facility and the Export Development Canada (EDC) Business Credit Availability Program will also be available in the coming weeks.

Troubleshooting Online CEBA Enrollment

The enrollment process for RBC business clients is completely online and only accessible through RBC Online Banking for Business. If you are not registered for online banking, click here to enroll in RBC Online Banking for Business.

If you are an RBC Express client, please contact your RBC Account Manager for separate instructions to enroll for CEBA.

If it stops working before you click “Submit”, you can refresh your page and continue or redo your enrollment process.

If it stops working before you click “Submit”, you can refresh your page and continue or redo your enrollment process.

In some cases, while you may see the funds on your online banking profile, it may take up to 24 hours before funds can be accessed.

Loan Terms

No interest applies until January 1, 2023. Commencing on January 1, 2023, interest accrues on the balance of the term loan at the rate of 5% per annum, payable monthly on the last day of each month.

You may start repaying the loan in part or in full at any time without penalty. No principal repayments are required until December 31, 2025. Monthly interest only payments are required on the last day of the month commencing January 2023. The entire loan and all accrued and unpaid interest is due and payable on December 31, 2025.

If you pay 75% of the balance of the term loan (as at January 1, 2021), on or before December 31, 2022, the remaining balance of your term loan will be forgiven. For example, if your balance is $40,000 on January 1, 2021 and you repay $30,000 on or before December 31, 2022, the remaining $10,000 will be forgiven.

RBC's Relief Support for Businesses

RBC is also offering a number of relief solutions for business clients affected by COVID-19. We are assessing the needs of businesses on a case-by-case basis to provide relief solutions that are tailored to their circumstances. Relief support may include:

  • Business loan payment deferrals
  • Increases to operating line of credit limits
  • Request a deferral of your minimum payment obligations on your credit cards
    • Credit Card Interest Relief: Effective April 6, 2020, RBC will reduce credit card interest charges by 50% for personal and small business clients receiving credit card minimum payment deferrals. The 50% relief will automatically be applied to your statement.
  • Waived setup fees for new enrollments to cash management solutions
  • Waived Stop Payments fee

If your business is experiencing financial hardship as a result of COVID-19, please contact your advisor or call our Advice Centre at 1-800-ROYAL-20 to discuss your options.

You can quickly and easily request us to temporarily waive the requirement that you pay your minimum payment on your credit card for up to two months, by using our new online webform. The webform is available through RBC Royal Bank Online Banking. Should you require additional financial relief, beyond the first two months, please contact an advisor for additional deferrals up to a total of six months. Please note that requests are not guaranteed.

Yes. Once you complete the webform request to defer the minimum payment on one of your credit cards, you will see a link to request a deferral on other credit cards as well.

Deferred payments will not be reported to credit bureaus as missed payments.

The COVID-19 outbreak has caused an increased demand for financial relief. As a result, our people and our systems are working as quickly as possible. We will notify you within 5–10 business days to let you know if your request was accepted. Please check your Message Centre in RBC Royal Bank Online Banking for updates.

During the deferral period, you will continue to accrue interest charges at your current annual interest rates and we will add those charges to your outstanding balance. This will increase the outstanding balance on your credit card at the end of the deferral period. We do not charge interest on accrued interest.

Our Branches

Our priority is the safety and wellbeing of our employees and our clients. We continue to work closely with international and local public health authorities to monitor the situation regarding the Coronavirus. Our branches and offices have incorporated added precautionary measures including enhanced hygiene protocols. We will continue to follow the guidance of local and international health authorities to make informed decisions.

Our priority is the safety and wellbeing of our employees and our clients. We have increased frequency of cleaning, with daily disinfection of our retail branches and ATMs, and will continue to improve as we need to.

RBC announced plans to temporarily close select branches nationally. We ask that you check the branch locator for the most current information prior to your visit.

In the event of a branch closure, a notice will be posted on the branch door. To find the next closest location, simply visit maps.rbcroyalbank.com. Our Branch locator will also have updated information on whether your branch is open or closed.

RBC remains committed to supporting you through all channels. As always, the RBC Mobile App and RBC Online Business Banking solutions are safe, easy-to-use and available 24/7. You can:

  • View account balances, transaction history, and your RBC business credit card account information
  • Send and receive money with simple and easy solutions like Interac® e-Transfer and Interac® Request Money. Sign up for the Autodeposit feature if you haven’t already so that the Interac e-Transfers you receive are safely and directly deposited into your account, and your funds are immediately available to you.
  • Make bill payments online so that you can eliminate cheques and reduce the administrative time.
  • Digitally deposit cheques using the RBC Mobile app and smartphone camera when it’s most convenient to you. 
  • Manage your other banking needs

For more information on ways to bank with RBC, including how to sign up for Online Business Banking, RBC Express or to download the RBC Mobile App click here.

Supporting communities affected by COVID-19

RBC has committed an initial $2-million in support of COVID-19 community response efforts. As a first step, RBC will be donating funds to respond to community needs in Canada, the U.S. and globally to charitable partners including Food Banks Canada; Feeding America and The World Health Organization’s Covid-19 Solidarity Response Fund.