Gather documents
- Government-issued ID for owners
- Business registration/incorporation docs
- EIN/BN/Tax ID, operating name, address
- Partnership/operating agreement (if applicable)
Choose the right account
Match your transaction volume and cash-deposit needs; confirm monthly fees, e-transfer limits, and merchant services options.
Apply online or in-branch
Complete the application, verify ownership, add authorized signers, and connect accounting software.
Separate business & personal
Use dedicated cards and accounts to keep books clean and protect liability status.
Add tools
Consider merchant accounts, expense cards for team members, and integrated invoicing.
Frequently Asked Questions
Can sole proprietors open one?
Yes—bring your registration and tax ID (or SIN/SSN where allowed).
Do I need a business address?
Most banks require a legal address; some allow virtual offices with documentation.