Accounts & Services

Savings Accounts

Reward yourself by earning interest on the savings you have built through your business.

Save now for the future of your business.

Multiply your successes

Create new opportunities for growth with the interest earned on your extra cash.

For the wise business person

If you've planned your cash flow wisely and have a bit extra, our business savings accounts - with no monthly fees - help you earn on that extra cash.

No fees no worries

No monthly fees and earned interest make it easy to anticipate and control business expenses.

Frequently Asked Questions

To open your business savings account, what we’ll need depends on the type of business:

  • Sole proprietorship
  • Two pieces of government-issued ID
  • Trade name registration, if applicable
  • Social Insurance Number (if opening an account that earns interest)

  • Partnership
  • Two pieces of government-issued ID from each partner
  • A partnership agreement
  • Trade name registration, if applicable
  • Social Insurance Number (if opening an account that earns interest)

  • Corporation
  • Two pieces of government-issued ID from all signing authorities
  • Up-to-date articles of incorporation and certificate of incorporation
  • Shareholder registry
  • Notice of directors

  • Non-profit company
  • Articles of association
  • Signed letter or meeting minutes naming authorized signers, if not addressed in the articles of association
  • Resolution indicating who has the power to bind

  • Charitable organization
  • Documents required depend on whether the charity is incorporated or unincorporated (see above)

Yes.

On the legal side, having a separate business banking account protects your personal assets. Many small business owners form a limited liability company (LLC) or corporation to shield personal assets from unexpected changes in the business.

In order to keep that personal liability protection, you need to properly maintain your LLC or corporation, including drawing a clear line between your business and personal finances. By opening a business bank account, you're making sure that your business is its own entity.

Plus, when it comes to paying taxes, a business account makes it easier to stay on top of your books when tax time rolls around. You'll save time in tracking your spending and receipts, while making sure you take advantage of all your business deductions.

Need help?

Our Client Care team will be happy to assist.