RBC Bank Announces Launch of Cross-Border Business Banking

Business banking services make it easier and more affordable for RBC Royal Bank clients to conduct business in the U.S. and Canada

RALEIGH, N.C. (Nov. 12, 2014)– RBC Bank, the leading provider of banking solutions for Canadians, announced its new U.S. business banking package today. The unique business banking account offers many benefits to RBC Royal Bank customers that have had an account for more than two years and do business in the U.S. 

“Managing funds across the border between the United States and Canada can be time consuming and expensive for businesses,” said Eva Kang, business banking segment manager at RBC Bank. 

One international wire transfer between the U.S. and Canada typically costs about $75, and that fee  adds up quickly for businesses that conduct business on both sides of the border. Through RBC Bank’s new business banking solution, RBC Royal Bank customers use a single sign in to their online banking to easily manage both their U.S. and Canadian business accounts, and instantly transfer funds with just a few clicks.

Transferring money is not the only challenge for cross-border businesses though. RBC Bank offers merchant and payroll services for Canadian businesses with U.S. employees. Businesses can also manage U.S. bills and check deposits online.   

“At RBC Bank, we are proud to offer a new package that streamlines this process of cross-border business while providing the dedicated, personalized support and service of the RBC Bank team,” said Kang.  Each business client is matched with a dedicated and experienced banker who can be reached when the business has any needs.

With instant, no-fee transfers and streamlined online account management, RBC Royal Bank customers will have the opportunity to truly focus on conducting business instead of worrying about the financials – RBC Bank has that covered.

About RBC Bank

RBC Bank means RBC Bank (Georgia), N.A., a wholly-owned subsidiary of the Royal Bank of Canada that provides U.S. banking solutions to RBC consumer clients with a cross-border lifestyle.   RBC Bank pioneered cross border banking and has been serving clients who visit, shop, study or relocate in the U.S., for more than ten years.  Today, the Bank provides everyday banking and real estate lending solutions to Canadian clients in all 50 states. For more information, visit www.rbcbank.com.  

About RBC Royal Bank

Royal Bank of Canada is Canada’s largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America’s leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. We employ approximately 79,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 40 other countries. For more information, please visit www.rbc.com.

RBC supports a broad range of community initiatives through donations, sponsorships and employee volunteer activities. In 2013, we contributed more than $104 million to causes worldwide, including donations and community investments of more than $69 million and $35 million in sponsorships. Learn more at www.rbc.com/community-sustainability.