Business chequing
The business account your bank can’t beat
With up to 2.25% interest and no monthly fees, this is built for CPAs, doctors, and the 20,000+ corporations we already work with.
$0 per month
With no monthly fees and no account minimums, clients save $230 per year on average. Enjoy unlimited payments via Interac e-Transfer®, deposits, and CRA payments.
Up to 2.25%
That’s the interest you could be earning. Your rate is based on your combined assets with us, because there’s more to you than your business.
20 minutes
That’s all most clients need to verify accounts. Skip the branch and get started from your home, office, call room, or anywhere.
- Receive unlimited e-Transfers, direct deposits and incoming wires — all for free. Just the way it should be
- Order cheques and deposit them from your phone
- Keep your funds organized with up to 8 chequing accounts — a major benefit at tax time and beyond
- Pay vendors or partners on time by sending up to $25,000 daily with Interac e-Transfer
- Autodeposit e-Transfers sent to your business email directly into your account
- When sending $25,000 isn’t enough, send a wire transfer from your phone — just for $15
- Switch between your business and personal accounts with ease
- Move money between your accounts instantly, making it simple to pay yourself or contribute to your business investments
- Use smart automations to invest on autopilot, pay employees on time, and never miss a payment
- Set up chequing accounts to manage your tax payments — and any other payments
- Schedule your bill payments in advance, and keep track of payments in place
- Keep your investing simple by growing your capital with an expert-built managed portfolio
- Or if you’re the hands-on type, great! Unlock advanced strategies such as margin, options trading, or alternative investments such as private equity or credit. Learn more.
- Pay your corporate income tax, GST / HST, and payroll remittances directly using bill payments
- Schedule payments for your full fiscal year
- All tax payments are free of charge — because who wants to pay a fee on top of your taxes?
Coming spring 2026
A business card that pays you back
Enjoy 1% cash back on every purchase and no FX fees with our prepaid business Visa. Coming to your wallet in spring 2026.
Run your business free from fees
Wealthsimple | The big 5 banks | |
|---|---|---|
| Average annual cost with typical usage | $0 | $230 |
| Annual interest on deposits | Up to 2.25% | 0% |
| Monthly base fee | $0 | Up to $7 per month |
| Included e-Transfers per month | Unlimited | Up to 10 (and sometimes none) |
| Cost to pay the CRA | $0 | Up to $2 per payment |
Focus on your work, not your chequing
You work hard. Your finances should be easy.
FAQs
How do I open an account?
How do I open an account?
When you open your first business account, you’ll need to onboard your corporation with us. Make sure you have your corporate information handy — and that it’s up to date with your jurisdictional business registry.
You’ll be asked to provide information such as your business type, registration details, addresses, and more. We’ll verify that information against relevant government databases.
Once your corporation is verified, you can open up to 8 business chequing accounts — and even more additional investing accounts — easily. Just select your desired accounts, sign the agreements, and you’re ready to go.
Do you support non-incorporated businesses?
Do you support non-incorporated businesses?
We don’t, but great question. To be eligible for this account, your business must:
- Be registered in Canada
- Be a Canadian-controlled private corporation or a charity/association registered with the CRA
- Have a single layer of ownership for incorporated entities
- Be an active or passive non-financial entity (it can’t be a financial institution)
- Not be a strata or condominium corporation
- Have a 9-digit federal business number
Learn more about who’s eligible for business accounts here.
How is my interest rate set?
How is my interest rate set?
The interest rate on your business chequing account is tied to your combined asset level. If you have less than $100,000 in combined assets at Wealthsimple, your rate starts at 1.25%. On the other end of the spectrum, if you have $500,000 in assets, you’ll get a 2.25% interest rate.
Also, FYI: Your interest is an annualized rate. It’s calculated daily and paid out monthly, subject to change.
What sort of coverage do my accounts get?
What sort of coverage do my accounts get?
Our business chequing accounts have $100,000 CAD in CDIC protection per business entity. That’s shared across your savings and chequing accounts.
Similarly, you also get up to $1,000,000 CAD in CIPF protection on self-directed or managed investments.
What are my transaction limits?
What are my transaction limits?
That depends. You’ll have high limits on Interac e-Transfer and wire transfers, but your exact daily transaction limits are determined by various factors, including total assets with Wealthsimple, direct deposit amount, and previous transfer amounts.
How many business chequing accounts can I open?
How many business chequing accounts can I open?
Up to 8. And they’re all free, each earning the same great interest rate.
Can I pay my corporate taxes from Wealthsimple?
Can I pay my corporate taxes from Wealthsimple?
Yes! You’re able to use your business chequing account to directly pay your corporate income taxes, as well as GST/HST, to Canada Revenue Agency.
We’re working on support for Revenu Québec, but this is not currently available for corporate tax payments.
How do I connect my accounting software?
How do I connect my accounting software?
If you use Quickbooks or Wave, you can connect your business chequing account directly to sync your transactions. For other platforms, you can download CSVs of your monthly transactions and upload them to your accounting software. Learn more about connecting to your account software here. We’ll be adding more accounting integrations — stay tuned.
How can I spend money with this account?
How can I spend money with this account?
Today, our business chequing accounts are perfect for sending and receiving money using common methods, such as e-Transfers, pre-authorized debit (PAD), direct deposit, cheques, and wire transfers.
By the middle of 2026, we’ll also be launching prepaid Visas — tied to your existing business accounts — to help you spend money in person or online.