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Business banking
We compare monthly fees, transfer costs, interest, multi-currency features and how your money is protected, across challenger banks, fintech accounts and the big banks.
7 accounts in Canada
Fintech account · Multi-currency
Accounts, FX and cards in one place
Local CAD, USD, GBP and EUR accounts, conversions from 0.25% and corporate cards with 1% cashback, with a free Essentials plan.
Monthly fee
C$0
Essentials plan
Currencies
4
CAD, USD, GBP and EUR
FX
From 0.25%
0.45% on Essentials
Fintech account · Multi-currency
Four currencies, unlimited local transfers
A free Basic account holding CAD, USD, GBP and EUR, with unlimited local transfers by EFT, ACH and SEPA and up to 20 virtual cards.
Monthly fee
C$0
Basic plan
Currencies
4
CAD, USD, GBP and EUR
Virtual cards
20
Included
Licensed bank · High interest
Earn interest on your operating cash
A digital business account from Equitable Bank with no monthly fee and 2.25% interest on CAD balances.
Monthly fee
C$0
No monthly fee
Interest
2.25%
On CAD balances
Bank
Equitable
Licensed Canadian bank
Fintech account · Multi-currency
A global account for Canadian businesses
Hold 20+ currencies and convert at 0.5% above interbank for major currencies, with cards and expense tools on the free Explore plan.
Monthly fee
CA$0
Explore plan
Currencies
20+
Held as balances
FX
0.5%
Above interbank, major currencies
Fintech account · Multi-currency
Mid-market rates in 40+ currencies
No monthly account fee, balances in 40+ currencies and conversions at the mid-market rate from 0.48% for CAD.
Monthly fee
C$0
No monthly fee
Currencies
40+
Hold and send
FX
From 0.48%
Mid-market rate
Fintech account · Chequing
Simple, free business chequing
No monthly fee, unlimited transactions and no-fee Interac e-Transfers.
Monthly fee
C$0
No monthly fee
Transactions
Unlimited
Included
e-Transfers
Free
Interac e-Transfers
Licensed bank · Big Five
A big bank, priced for online banking
Unlimited online transactions and Interac e-Transfers for a flat $6 a month, with RBC’s branch network behind it.
Monthly fee
C$6
Flat
Transactions
Unlimited
Online
e-Transfers
Included
Interac
Best all-in-one account for startups
Local CAD, USD, GBP and EUR accounts with cards
Best for local USD, GBP and EUR accounts
Free account with CAD, USD, GBP and EUR
Best for interest on CAD balances
No monthly fee and 2.25% interest on CAD
Who holds your money affects fees, features and how your deposits are protected.
Branches, cash services and lending under one roof, usually with higher monthly fees and FX costs.
Fully licensed banks that operate online, often with free plans and modern apps, and protected deposits.
Accounts that hold your money through partner banks or as e-money, often with multi-currency features and lower FX costs.
Every rating comes from the provider’s published terms, checked against official sources and dated. Partners and non-partners are rated the same way.
