Skip to main content

Important Information

Canada Emergency Business Account (CEBA)

To enroll for CEBA, log into your 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.

To be eligible for CEBA, you must meet the Government of Canada’s requirements outlined in Q6 of the FAQ below. As part of this, you must provide the 15-digit CRA Reference Number which is found on your 2019 T4 Summary of Remuneration Paid statement if you have employees, and thus, the required payroll information to be eligible for the program.

*UPDATED* The Government of Canada has updated the eligibility criteria related to employer payroll requirements. The criteria for an organization’s total employment income paid in the 2019 calendar year is now between $20,000 and $1,500,000 CAD. If your business was not previously eligible under the former payroll criteria ($50,000 to $1,000,000), please log into your RBC Online Banking for Business to re-submit your enrollment form.

Please see below for the full CEBA FAQ, including further details about the CEBA eligibility criteria in Q6.

Canada Emergency Wage Subsidy (CEWS)

The Government of Canada’s Canada Emergency Wage Subsidy (CEWS) provides eligible employers that have experienced an eligible reduction in revenue to receive a subsidy of 75% of employee wages for up to 12 weeks, retroactive from March 15, 2020, to June 6, 2020.

For detailed information about the program, eligibility, and how to apply, refer to the Government of Canada’s site.

You should also enroll for CRA Direct Deposit by logging into your RBC Online Banking for Business or RBC Express platform. CRA Direct Deposit is a quick, safe and secure way to receive eligible amounts to be paid to you by the Canada Revenue Agency (CRA) such as CEWS, should you be eligible for this program. Please see the FAQs below for more details. If you are eligible and expecting a CRA payment of more than $25 million, click here for details on how to receive your payment thought the Large Value Transfer System.

IMPORTANT: Please note that enrolling for CRA Direct Deposit through your RBC Online Banking for Business or RBC Express does not register you for the Government’s CEWS. You must apply for CEWS through the CRA directly. For instructions on how to apply, click here.

The BDC Co-Lending Program

The BDC Co-Lending program is designed to support Canadian businesses of all sizes that have been negatively impacted by COVID-19. Eligible applicants can access funding up to $6.25 million CAD (maximum loan amounts dependent on business size) to cover operating expenses (such as rent, payroll and other operating expenses) and working capital needs. For more program details, please read the FAQ below.

The EDC Business Credit Availability Program (BCAP) Guarantee:

The Government of Canada announced the availability of the Export Development Canada (EDC) BCAP Guarantee help Canadian businesses with impacted by COVID-19. Eligible applicants can access up to $6.25 million CAD in short-term liquidity to cover expenses which are critical to business continuity such as rent, payroll and other operational costs. For more program details, please read the FAQ below.

The Government of Canada’s Relief Program Eligibility

The Government of Canada released Canada’s COVID‑19 Economic Response Plan for individuals and businesses, providing economic and financial support. Answer a few quick questions to help you see which Government of Canada programs your business might qualify for. Please note that RBC does not make any determinations with respect to eligibility, approval amount, or timing of these programs.

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
    • Reimbursement for Credit Card Interest Charges: Effective April 6, 2020, RBC will provide business and commercial card clients receiving minimum payment deferrals with a credit to their credit card account(s) to reimburse them for 50% of the interest charged to their account(s) during the period they are receiving the deferrals. The credit(s) will be displayed on upcoming statement(s).
  • Waived setup fees for new enrollments to cash management solutions
  • Waived Stop Payments fee
  • Waived ATM mini-statement 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.

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.

To further help your business during this difficult time, if your business is receiving minimum payment deferrals, RBC will reimburse 50% of the interest charged to the account(s) during the period they are receiving the deferrals. This credit(s) will be displayed on upcoming statement(s).

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.

Reimbursement for Credit Card Interest Charges: Effective April 6, 2020, RBC will provide business and commercial card clients receiving minimum payment deferrals with a credit to their credit card account(s) to reimburse them for 50% of the interest charged to their account(s) during the period they are receiving the deferrals. This credit(s) will be displayed on upcoming credit card statement(s).

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.

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 about Wello by signing in to RBC Online Banking and from the top of your Accounts Summary page, select the Offers for You link to browse your offers or log into the RBC Rewards app.

Do More Digitally

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, Standard RBC Online Business Banking and Premium Online Business Banking solutions are safe, easy-to-use and available 24/7.

Standard RBC Online Banking for Business

Explore all you can do online from the convenience of home or work

  • One user requires access to Online & Mobile Banking
  • Gives you 24/7 access to your business accounts – for no fee
  • Let’s you deposit cheques and stay on top of your business banking anywhere, anytime, through your mobile device
  • Ideal for use by a businesses with a lower number of transactions

Premium Online Banking with RBC Express

RBC Express might be right for your business if:

  • You are looking to delegate banking tasks to employees or other service providers
  • You need to manage and oversee a large number of business accounts
  • You are looking for extensive monitoring and reporting capabilities
  • You will be making high value payments and transactions

RBC Mobile App

Manage your business finances from anywhere.

  • Getting paid is easier
  • Stay on top of your cash flow
  • Manage your financial picture
  • Learn more

Access our newest features with the latest update of the RBC Mobile app.

Get the RBC Mobile app in the App Store (opens in a new window) Get the RBC Mobile app on Google Play (opens in a new window)

Or text “RBC” to 722722 and we’ll send you the link

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.

Helpful Business Tools and Templates

Digital Business Advisor Tool

Your needs + your details = your solution

+ =

Don’t worry. It won’t take longer than a few minutes.

Get Started

Frequently Asked Questions

Government of Canada's Relief for Business

Canada Emergency Business Account (CEBA)

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 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.

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 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.
  • *UPDATED* The organization’s total employment income paid in the 2019 calendar year was between $20,000 and $1,500,000 CAD. You will be required to provide the sum of the employment income reported in Box 14 and, if applicable, Box 71 (Indian Exempt Income – Employment) of your T4 Summary of Remuneration Paid. For more details on the CRA guidelines and the Indian Act, please click here.
  • 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 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 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.
  • *UPDATED* The organization’s total employment income paid in the 2019 calendar year was between $20,000 and $1,500,000 CAD. You will be required to provide the sum of the employment income reported in Box 14 and, if applicable, Box 71 (Indian Exempt Income – Employment) of your T4 Summary of Remuneration Paid. For more details on the CRA guidelines and the Indian Act, please click here.
  • 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.

No, they are similar but not the same. Your business HST number does not satisfy the Government of Canada’s required CEBA criteria.

To enroll in CEBA, you must provide the 15-digit CRA account number which is found on your organization’s 2019 T4 Summary of Remuneration Paid statement.

If you do not have employees, you are not eligible for CEBA.

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 to 7 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 to 7 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.

No, there are no cash advance fees to transfer your CEBA funds into your RBC Business Deposit Account. However, we are aware of a technical issue where some clients may receive a message during the transfer process stating that a cash advance fee will be applied. We are looking into this technical issue. Please note that no fee has been or will be applied to your CEBA fund transfer, regardless of whether you see this message.

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
  • Deferrals of minimum payment credit card obligations for up to 6 months
    • Reimbursement for Credit Card Interest Charges:: Effective April 6, 2020, RBC will provide business and commercial card clients receiving minimum payment deferrals with a credit to their credit card account(s) to reimburse them for 50% of the interest charged on their account(s) during the period they are receiving the deferrals. The credit(s) will be displayed on upcoming statement(s).
  • Waived setup fees for new enrollments to cash management solutions
  • Waived Stop Payments fee
  • Waived ATM mini-statement 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.
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.
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.

Canadian Emergency Wage Subsidy (CEWS)

The Canada Emergency Wage Subsidy (CEWS) provides a 75% wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020. 

The CEWS aims to prevent further job losses, encourages employers to re-hire workers previously laid off as a result of COVID-19, and helps to enable businesses to resume and sustain normal operations following the crisis.

You can find more detailed information about the Government of Canada’s CEWS Program, eligibility criteria, and how to apply on the Government of Canada’s site.

You can find more detailed information about the Government of Canada’s CEWS funding calculations on the Government of Canada’s site.

For the complete CEWS eligibility details as set out by the Government of Canada, please visit the Government of Canada’s site.

RBC business clients now have the option to enroll for CRA Direct Deposit though RBC Online Banking for Business and RBC Express.

To sign up for CRA Direct Deposit:

  • Ensure that you are enrolled in RBC Online Banking for Business or RBC Express.
    • If you have not signed up for RBC Online Banking for Business and you are an existing RBC business client, click here to find out how to enroll.
  • Log in to your RBC Online Banking for Business or RBC Express.
    • RBC Online Banking for Business users can go to the Account Details page and click on the link on the right side of the screen to enroll for CRA Direct Deposit.
    • RBC Express users will see an alert to register for CRA Direct Deposit as soon as you have signed in.

    Important note: When enrolling for CRA Direct Deposit, please have your CRA Business Number (BN), including your CRA Program Account Identifier for payroll ready. You will need to enter this as part of the CRA Direct Deposit enrollment process. Click here for more information on the BN and CRA Program Account Identifier.

    Please note that enrolling for CRA Direct Deposit through your RBC Online Banking for Business or RBC Express does not register you for the Government’s CEWS. You must apply for CEWS through the CRA directly. For instructions on how to apply, click here.

  • Log into your CRA My Business Account portal to make sure that your direct deposit information has been updated. Please note that this update may take up to 24-48 hours, and processing times may vary.

No. You need to apply for CEWS through the directly. For instructions on how to apply, click here.

RBC is not acting as an administrator or facilitator of this program. The CRA Direct Deposit enrollment feature being offered by RBC is only for the purposes of helping business clients enroll to receive direct deposits from CRA for amounts (such as CEWS) to be paid to the client by CRA.

For instructions on how to apply, click here.

CEWS payments are administered by the Canada Revenue Agency (CRA). Please click here or contact the CRA for more details on the payment disbursement process.

CEWS payments are administered by the Canada Revenue Agency (CRA). Please click here or contact the CRA for more details on payment disbursement process.

EDC Business Credit Availability Program (BCAP) Guarantee

The EDC Business Credit Availability Program (BCAP) Guarantee is an EDC-guaranteed business loan to help Canadian businesses impacted by COVID-19. Eligible applicants can access up to $6.25 million CAD in short-term liquidity to cover expenses which are critical to business continuity such as rent, payroll and other operational costs.

The EDC Program features:

  • Term loans up to CAD $6,250,000
  • Terms of up to 5 years
  • Fixed 80% EDC guarantee for 1 year, with potential to renew for another 1 year
  • Loan is repayable in full on the 12-month anniversary
  • EDC guarantee fee of 1.8% on the authorized loan amount
  • 6-month EDC Guarantee fee payment deferral

For more details on the program, eligibility and application process, RBC business clients can contact their RBC Account Manager. RBC business clients who do not have a dedicated RBC Account Manager can call our Advice Centre at 1-866-591-0757.

No. The EDC BCAP Guarantee can be used to support new facilities to provide incremental emergency liquidity. It cannot be used to support an existing facility.

No. The EDC BCAP Guarantee will also be available to non-export, domestic businesses.

To qualify for an EDC BCAP, the client must:

  • Apply for a new term loan up to $6.25million CAD to finance short-term operations in response to COVID-19

The client must NOT be:

  • Government organizations or bodies or entities owned by a government organization or body.
  • Unions, charitable, religious or fraternal organizations or entities owned by such organizations except registered T2 or T3010 corporations that generate a portion of their revenue from the sales of goods or services (so that business operations of those entities remain eligible.
  • Entities owned by individuals any federal Member of Parliament or Senator.
  • Entities that violence, incite hatred or discriminate on the basis of sex, gender identity or expression, sexual orientation, colour, race, ethnic or national origin, religion, age or mental or physical disability, contrary to applicable laws.

RBC business clients should speak with their RBC Account Manager to learn more about the application process and eligibility criteria. RBC business clients who do not have a dedicated RBC Account Manager can call our Advice Centre at 1-866-591-0757.

BDC Co-Lending Program

The Government of Canada announced the availability of the Business Development of Canada (BDC) Co-Lending program supporting Canadian businesses of all sizes that have been negatively impacted by COVID-19. Eligible applicants can access up to $6.25 million CAD (max. loan amounts dependent on business size) in loans to cover operating expenses such as rent and payroll, and working capital needs such as inventory. The loan will be jointly funded by RBC and BDC.

RBC Term Loan - Maximum Loan Amount
Businesses with less than $1 million in annual revenue Businesses with $1-$50 million in annual revenue Businesses with over $50 million in annual revenue
Up to $312,500 Up to $3.125 million Up to $6.25 million

RBC business clients of all sizes that have been impacted by COVID-19 and meet the eligibility criteria can apply for the BDC Co-Lending Program.

To qualify for a BDC Co-Lending Program, clients must have:

  • Been a client of RBC as of March 1, 2020
  • Been a viable business as of March 1, 2020 prior to COVID-19 impact
  • Met the necessary requirements that will form part of the application process

Please contact your RBC Account Manager for further details on the eligibility criteria.

  • Term loan
  • Interest-only payments for the first 12 months
  • Amortization and terms based on your business needs

Please contact your RBC Account Manager for further details on the terms and conditions.

RBC business clients should speak with their RBC Account Manager to learn more about the application process and eligibility criteria. RBC business clients who do not have a dedicated RBC Account Manager can call our Advice Centre at 1-866-591-0757.

Clients that have applied for the CEBA program and/or the EDC BCAP Program may also apply for the BDC Co-Lending Program. Your RBC Advisor can help you determine which solutions are suited for your financial needs.

Your RBC Advisor will work with you to complete the application process and will keep you apprised of your loan approval status.

RBC Client Relief Program

RBC is offering a number of temporary 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 for up to 6 months
    • Reimbursement for Credit Card Interest Charges: Effective April 6, 2020, RBC will provide business and commercial card clients receiving minimum payment deferrals with a credit to their credit card account(s) to reimburse them for 50% of the interest charged to their account(s) during the period they are receiving the deferrals. The credit(s) will be displayed on upcoming credit card statement(s).
  • Waived setup fees for new enrollments to cash management solutions
  • Waived Stop Payments fee
  • Waived ATM mini-statement 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.

To further help your business during this difficult time, if you are receiving a minimum payment deferral, credits will be applied to the credit card account to reimburse your business for 50% of the interest charged to your account during the period your business is receiving the deferral – the relief period. These credit(s) will be displayed on upcoming statement(s). After the relief period your business will no longer be eligible to receive credits to the account for interest charged.

With the unprecedented impacts of COVID-19, we are temporarily waiving fees for stop payments until September 30 2020. You can use RBC Online Banking to manage stopping pre-authorized bill payments or cheques that are coming out of your bank account.

Instructions for RBC Online Banking Stop Payments:

Our Branches

For the health and safety of our employees and communities, RBC has temporary closed a number of branches. Some branches remain open and we ask clients to limit branch visits for urgent matters that must be done in-person.

We are limiting the number of clients allowed in the branch at any given time, to practice physical distancing – for both employees and clients. We’ve also installed Plexi Protection Screens to create a safer banking environment.

We encourage clients to only come to the branch if it is essential to do so, and to please use RBC Online Banking or the RBC Mobile app if at all possible.

To support the needs of our clients, we have introduced a number of relief measures. You can read about the RBC Client Relief Program – as well as all of our safety measures – at rbc.com/covid-19

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.