Business Accounts
open a business account online
Who can open a business account online?
You’re eligible to open an account online if you meet these criteria:
A Canadian resident age 19 or over
Sole proprietor or single-owner corporation
Your business operates in Ontario
Required documentation to apply online
Review the detailed requirements for applying for a business account online, including what documents you need.
Detailed requirements for a sole proprietorship:
- 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.
- 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.
Provide these documents in PDF format:
- Business Name Registration: 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" and your Business Identification Number can be found here as well. Review samples:
- 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.
Detailed requirements for a single-owner corporation
- 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.
Provide these documents in PDF format:
- 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.
- 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:
- 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.
When to open an account in person
You’ll need to open your account at a Meridian branch if your business falls into any of these categories:
Who’s not eligible for an account?
Your business isn’t eligible to open an account with Meridian Credit Union if it falls into any of these categories: