Your Business Account in Canada 🇨🇦

Q: What is needed to open a business account in Canada?

To open a business account in Canada, you typically need the following documents: business registration or incorporation certificate, identification for the business owner(s), proof of address for the business, and possibly additional documentation depending on the bank's requirements.

Q: Can I open a Canadian business bank account from outside Canada?

Yes, it is possible to open a Canadian business bank account from outside Canada. However, specific requirements and procedures may vary between banks, so it's advisable to contact the desired bank directly for more information and assistance. The good news is that you don't need to have a Canada-based bank to transact in CAD. MultiPass multi-currency IBAN lets you hold, receive and send Canadian dollars and comes with 100% online onboarding.

Q: Can a foreigner open a business bank account in Canada?

Yes, foreigners can open a business bank account in Canada. However, requirements may vary depending on the bank and individual circumstances. Most banks will require your business to be registered in the Canada as well. If you are not yet ready to set up a business in Canada yet, consider MultiPass multi-currency account for simple payments in CAD and over 30 other currencies.

Q: How long does it take to open a business account in Canada?

The time required to open a business account in Canada can vary depending on the bank and specific circumstances. On average, the process typically takes a few weeks, considering the necessary documentation and verification procedures involved.

Open a business account to operate in Canada with or without local presence. Get multi-currency IBAN to manage CAD, EUR, USD, GBP and other currencies with ease.

Open account

A single solution to bank overseas

Be where your clients and partners are - With MultiPass multi-currency account do business with partners, clients and contractors both globally and in local markets. Hold, send & receive money in multiple currencies and convert only when needed, at great FX rates.

Within Canada 🇨🇦

Account details:

IBAN (EU & global)

Currencies:

CAD

Supported payment networks:

SWIFT, Electronic Funds Transfer (EFT)*

Delivery time:

0-1 business day

*Available upon request on a case by case basis

The rest of the world 🌍

Account details:

IBAN (EU & global)

Account number & Sort code (UK)

Account & Routing numbers (US)

Currencies:

EUR, GBP, USD & 30+ currencies

Supported payment networks:

SWIFT, SEPA, SEPA Instant, Faster Payments, ACH, Fedwire, 10+ local networks

Delivery time:

0-2 business days

Reliable & transparent banking, designed for international business

Worldwide transactions

Transact in 30+ currencies across 180 countries. Get your own dedicated IBAN and local UK, EU & US accounts. Make fast multi-currency payments globally via SWIFT or local payment networks.

Wholesale FX rates

Perform live FX and move money between your own accounts with ease. MultiPass gives you access to wholesale exchange rates that guarantee significant savings versus traditional banks.

Business cards

Handle your daily corporate expenses easily with your own virtual and plastic payment cards. Order and manage your cards 100% online from your MultiPass business account.

Dedicated support

No bots or automated replies!
A dedicated banking expert that understands your business nature with help you out with any questions and ensure smooth delivery or your payments.

Digital onboarding

Onboard and manage your account entirely online, wherever you are. Our team will guide you through the onboarding so that you can be up and running within days, not weeks.

Trusted service

MultiPass is a UK-based FCA-authorised EMI. MultiPass is part of the Dyninno Group, an international holding with over 19 years of experience in the global market.

How to send money to
Canada 🇨🇦 with MultiPass

Convert your currency to CAD

Save on FX vs traditional banks. Hold CAD in your account and avoid unnecessary conversions.

Choose recipient in Canada

Make a payment to their IBAN

From 0.50 GBP per payment

Your beneficiary receives the exact amount, with no hidden FX charges along the way

Pricing

Account opening

29-450 GBP

Account maintenance

29-250 GBP/month

IBAN + local UK, US details issuing

Free

Please note that pricing may vary from case to case. For more information, visit the pricing page.

Get paid in the currency your clients are used to

free to 1 GBP

Share your multi-currency account details with your customers in Canada, allowing them to pay you in CAD.

Pay overseas staff cheaper & easier

from 0.50 GBP

Local payouts offer significant savings vs international SWIFT transfers, which is perfect for companies that regularly pay salaries to overseas contractors.