Venn · Prepaid corporate
Venn Corporate Card review
Venn is a Canadian business account with a prepaid corporate Mastercard that pays 1% cashback on all card purchases, with no minimum spend, paid out monthly. You can hold CAD, USD, GBP and EUR, there’s no personal guarantee, and the Essentials plan costs nothing.
Who Venn is best for
Small Canadian businesses that want cashback from the first dollar, companies holding and spending USD, GBP or EUR and founders who don’t want a personal guarantee.
Businesses that need credit or payment terms and sole proprietors and unincorporated businesses.
Venn is a Canadian business account with a prepaid corporate Mastercard that pays 1% cashback on all card purchases, with no minimum spend, paid out monthly. You can hold CAD, USD, GBP and EUR, there’s no personal guarantee, and the Essentials plan costs nothing.
Currency conversion costs 0.45% on Essentials, 0.35% on Plus (C$40 a month) and 0.25% on Pro (C$100 a month). Because it’s prepaid, you spend money you already hold rather than borrowing, which keeps things simple but doesn’t help cash flow the way a charge card with payment terms does. Venn is open to incorporated Canadian businesses.
Fees, features and eligibility
| Rewards | 1% on all card purchases, paid monthly |
|---|---|
| Annual fee | CA$0 |
| Fees | C$0 (Essentials); C$40 (Plus); C$100 (Pro) |
| Payment terms | Spends from account balance |
| Foreign transaction fee | 0.45% conversion on Essentials (0.25% on Pro) |
| Card type | Prepaid corporate |
| Eligibility | Incorporated Canadian businesses |
| Personal guarantee | Not required |
| Currencies | CAD, USD, GBP and EUR |
Source: Venn published product information.
What stands out
Pros
- 1% cashback with no minimum spend
- C$0 Essentials plan
- No personal guarantee
- CAD, USD, GBP and EUR accounts
Cons
- Prepaid, so no credit or payment terms
- Incorporated businesses only
Venn: common questions
Does Venn have a minimum spend for cashback?
No. Venn pays 1% cashback on all card purchases, with no minimum, paid out monthly.
How much does Venn cost?
The Essentials plan is C$0 a month. Plus is C$40 a month and Pro is C$100 a month, with lower conversion fees on the paid plans.
What is Venn’s currency conversion fee?
0.45% on Essentials, 0.35% on Plus and 0.25% on Pro.
Does Venn require a personal guarantee?
No. Venn doesn’t require a personal guarantee.
Which currencies can I hold with Venn?
CAD, USD, GBP and EUR.
Who can open a Venn account?
Incorporated Canadian businesses.
Used Venn? Help other businesses choose.
