Looking for the best business bank account provider in Canada for 2025? Here are the top 10 for small as well as big businesses. It is highly suited for integration with virtual bookkeeping and online services.
Selecting the correct business bank account greatly impacts the performance of various financial transactions in the business. There are different banking schemes in Canada, and you must choose an account that meets your criteria. It involves the company, its size, the number of transactions, and overall expectations.
Here are 10 of the best business bank accounts in Canada for 2025 to fit a variety of businesses and situations.
BMO’s Business Builder 1 account is for small businesses and startups. It offers 35 monthly transactions for a rather affordable monthly charge of $22.
The account is highly flexible, and when a business expands, it can easily be moved to the next level of transactions (Business Builder 2, 3 …).
Working this account with a virtual bookkeeping firm in Canada is pretty simple since you can link your BMO online banking to a cloud-based accounting solution.
This allows businesses to keep track of their financial resources and adjust their banking needs according to economic growth.
The TD Unlimited Business Plan is perfect for companies that make many transactions. Additionally, a monthly fee of $125 allows the user to perform any number of transactions, including depositing and transferring funds and bill payments.
The added advantage is free cheque deposits and restriction-free interbank transfers online.
Customers with cloud bookkeeping firms in Canada will find TD’s digital banking tools highly usable when dealing with businesses.
Most bookkeeping software can easily link with the platform, making financial management efficient and effective.
Scotiabank currently offers the Right Size Account for Business, which allows transaction levels to be set according to the business’s needs. The basic level is the primary, while others are more advanced.
You can start with a lower level and upgrade as your business progresses. Also, the monthly fees begin at $6 for a micro account.
You can adjust the transaction capacity according to your business requirements.
This flexibility is desirable for companies operating online and providing virtual bookkeeping services in Canada.
Customers can even monitor their expenses, payments, and account balances through the online banking platform. Additionally, the bookkeeping team can easily access this banking platform.
The CIBC Unlimited Business Operating Account is popular with larger business entities due to the many transactions going on. This account is designed for a $65 monthly fee.
Moreover, it allows users to deposit, pay bills, and transfer money without limit. It also comes with free Interac e-Transfers, making it quite affordable for businesses that frequently transact locally and internationally.
Additionally, this account is compatible with virtual bookkeeping for any business in Canada. This makes it easy for companies to find quality online tools to enhance tracking and real-time reconciliation of business financial transactions.
National Bank’s Business Flex Account is favourable for enterprises with unpredictable sales since the fees depend on the number of transactions.
It allows one to decide on the number of monthly transactions processed and can be optimized according to the business situation. Additionally, the option with a monthly fee starting at $12 for 35 transactions makes this bank account great for growth.
It shall be flexible to companies using online bookkeeping services in Canada. National Bank offers digital banking for efficient money handling through its cloud bookkeeping for different transactional volumes.
HSBC provides the Business Vantage Account for companies engaged in international operations. For a $35 monthly fee, you get 25 transactions, unlimited foreign currency accounts, checks, and international wire transfers. I recommend this account to business organizations that operate internationally.
HSBC’s enhanced international facilities, such as multiple currency accounts, make it convenient for Canadian companies utilizing cloud bookkeeping firms to handle global transactions.
This can benefit companies that conduct business with their clients and suppliers in other countries.
The Meridian Business Advantage Plus Account is an account that Meridian Credit Union offers to small businesses searching for cheap business banking solutions.
The details of this service are that the account can accept any number of deposits for a monthly fee of $20 and 15 free transactions. Conversely, it is ideal for companies that do not perform too many transactions but need high amounts of money in accounts.
This account is especially suitable for virtual firms in Canada as it is simple to integrate with their bookkeeping systems for tracking costs and revenues.
Thus, Meridian’s sound digital infrastructure guarantees firms on-the-go access to their account information.
Tangerine’s business savings account is highly suitable for businesses that want a return on cash balances.
There are no monthly fees, and interest rates are also very reasonable, so it is a perfect fit for businesses that want to increase their savings while paying for other costs.
This account may not process daily operations, but companies using virtual bookkeepers tend to combine it with a full-service business checking account.
Such a structure enables firms to earn interest on money in their balances while effectively managing day-to-day operations.
Alterna Savings provides Business eChequing Account, a more digitally centred product per the requirements of internet banking businesses. It costs $6 per month and offers 20 free transactions. It is ideal for small businesses or startups.
The digitized format of this account would be suitable for businesses that employ Internet-based bookkeeping services in Canada.
Alterna’s online system allows bookkeepers to easily access transactions and balances and work from the comfort of their offices.
The best business bank account for your company in 2025 will vary depending on various factors, such as the number of transactions a business does, its level of involvement in international transactions, and its desire for online banking.
All of these accounts provide various features to enable the organization to suit different types of enterprises.
For Canada’s online bookkeeping services, businesses must select a bank connected to bookkeeping software and robust online services. Most accounts here can work with cloud bookkeeping firms in Canada, making it easy for you to get a professional bookkeeper to help oversee your financial affairs.
Therefore, choose the correct account, and you can manage your finances well, thus enabling effective business operations.