How to open a business banking account online

Business Accounts

open a business account online

You’re eligible to open an account online if you meet these criteria:

Sole proprietor or single-owner corporation

A Canadian resident age 19 or over

Your business operates in Ontario

Review the detailed requirements for applying for a business account online, including what documents you need.

You must have 100% share ownership of the corporation – if your business has multiple-share ownership you cannot open an account online; please make a branch appointment to speak with one of our advisors.
You must have sole authority to bind, borrow and transact on behalf of the corporation.
You must be a Canadian resident and reached the age of majority.
You must have a valid e-mail address.
Your business must be registered in the Province of Ontario. If registered federally, your business must also have the necessary registrations in the Province of Ontario. Review Sample Extra Provincial Registration (PDF, 1.5 KB).
You must have a valid CRA business number.
You must provide a Social Insurance Number.
If you have tax obligations outside of Canada, and/or are a US resident or citizen, you must also provide Tax Identification Number(s) for the additional jurisdictions.

Articles of Incorporation: This document establishes the existence of your corporation in Canada (and Ontario) and could include a corporate charter and/or certificate of incorporation. Your Business Corporation Number can be found in this document as well. Review Sample Federal Articles of Incorporation (PDF, 235 KB).
Shareholder Registry, Director Registry and Officer Registry: This document shows your name as the sole shareholder, director, and officer of the corporation.
- Sample Shareholder’s Registry (PDF, 250 KB)
- Sample Directors' Resolution (PDF, 75 KB)
Business Name Registration (if you have a trade name): This would have been issued to you by the Ontario government so that you can operate under a specific business name. This is also sometimes referred to as the "Master Business License". Review samples:
- Sample Master Business License for Corporations - Certificate (PDF, 250 KB)
- Sample Master Business License for Corporations - Registration Information (PDF, 200 KB)
Professional license if you belong to a licensed profession (lawyers, doctors, dentists, accountants, etc.).
A copy of your franchise agreement if your business is a franchise.

If you meet these requirements, apply online now.

You’ll need to open your account at a Meridian branch if your business falls into any of these categories:

A shared ownership or authority

Non-profit, trust, or charitable organization

A business registered outside Ontario

Your business isn’t eligible to open an account with Meridian Credit Union if it falls into any of these categories:

Cannabis-related business (includes any business that: derives income from persons, entities or directly from the sale of cannabis, its seeds or derivatives, and/or paraphernalia).
A strata, condominium corporation, or business that has shares that are regularly traded on a securities market, issues or has outstanding anonymous or bearer shares.

Crowdfunding, foreign exchange dealing, electronic remitting or transmitting of funds, issuing or redeeming money orders/travelers cheques, dealing, exchanging or transferring virtual currency, payday loans or cheque cashing, payment services.
Weapons manufacturer or wholesale
Gambling services