Corporate Bank Accounts in Canada
Opening a corporate bank account is a critical step after forming or acquiring a company in Canada. ShelfCompanies24 has established strong relationships with major Canadian banks and assists clients with the entire account opening process.
Major Banks in Canada
We work with the following banks and financial institutions in Canada:
- RBC, TD Bank, Scotiabank, BMO, CIBC, National Bank
Strong “Big Five” banking system. CAD is major world currency. Growing fintech.
Account Opening Process
- Bank selection — Based on your business type, expected transaction volume, and currency requirements, we recommend the most suitable bank.
- Document preparation — We help prepare all required documentation including corporate documents, business plan summary, and compliance materials.
- Application submission — We submit the account application to the selected bank on your behalf.
- Compliance review — The bank conducts its KYC/AML due diligence checks.
- Account activation — Once approved, you receive account details, online banking credentials, and payment cards.
Required Documents
- Certificate of incorporation
- Articles of association
- Register of directors and shareholders
- Passport copies of all directors and beneficial owners
- Proof of address for all directors and beneficial owners
- Description of business activities and expected turnover
- Source of funds documentation
Account Features
| Feature |
Details |
| Currency |
CAD (Canadian Dollar) + multi-currency options available |
| Online Banking |
Available with most banks |
| Debit/Credit Cards |
Corporate cards available |
| SEPA Transfers |
Canada banks support SEPA payments |
| International Transfers |
SWIFT transfers worldwide |
For assistance with opening a corporate bank account in Canada, please contact our consultants.
Related Services in Canada
Frequently Asked Questions
Which banks can I open an account with in Canada?
We work with major banks in Canada including RBC, TD Bank, Scotiabank, BMO, CIBC, National Bank. We recommend the best bank based on your business needs.
Can I open a bank account in Canada remotely?
Remote account opening depends on the bank’s policy. Some Canadian banks allow remote opening while others require a personal visit. Our team advises on the best approach.
What documents are needed to open a corporate bank account in Canada?
You will need the company’s incorporation documents, passports and proof of address for directors and beneficial owners, and a description of business activities.
How long does it take to open a business bank account in Canada?
The account opening process in Canada typically takes 1-4 weeks depending on the bank and the complexity of the corporate structure.
Content prepared by Anna Modlinska, Company Formation Specialist at ShelfCompanies24. Graduate of Cracow University of Economics and Lazarski School of Law. Approved by Tomasz Bielski, Managing Director.
