What Do I Need to Provide When I Open My Account?

Depending upon the type of business structure you have opted to set up, there will be different things that you need to provide. 

For all of the following types of structures the authorized signers will need to provide an original, valid and unexpired photo identification – for example, a driver’s license, status card, or passport. If the authorized signer does not have an original, valid and unexpired photo identification, we may verify his/her information by accessing his/her credit file, or we may be provided with 2 separate, acceptable and recent documents containing the persons name and i) address, ii) birth date and/or iii) credit statement – such as a most recent utility bill and credit card statement – to verify identity. Click here to download the Access to Basic Banking link for more types of acceptable ID.  There will also be some basic information we need from the authorized signers such as occupation and employer’s address.

Sole Proprietorship

This is an individual business operating under the owner’s name or under a trade name.  The owner is the sole signing officer of the company.  For this type of structure you would need to provide a Certificate of Registration of your business name (if operating under a name other than the owner’s). There are options we can help with if you need to have someone else designated as an authorized signer as well.

Partnership

This is a legal entity created by an agreement between two or more individuals operating a business together.  The partners share ownership and are usually the authorized signers.  The documents you need to provide include a Certificate of Registration of the Partnership name and the Partnership Agreement (we can help with this if no formal agreement has been created).

Corporation

A corporation is a distinct legal entity that is separate and apart from its shareholders, directors, officers and employees.  This entity is incorporated under provincial or federal laws by way of Articles of Incorporation.  Under this structure you would need to provide a copy of your Articles of Incorporation and Certificate of Incorporation.  If the Corporation will be operating under a different name a Certificate of Registration of the Business Name is also required.  For this type of structure all of the Directors of the Corporation will have to provide their occupation, address, employer and employer address.  In addition, any person that owns 20% or more of the corporation will need to provide their birth date and the required identification as outlined above.

First Nation Government

To open this type of account you will need to provide your original Band Council Resolution signed with quorum that details particulars of the account.  

For each of the structures above we have specialists who can review your needs and make recommendations that work for you. We specialize in finding solutions to your unique needs and look forward to hearing from you.  Whether your needs are basic or complex we can help!

To become a customer, please contact our branch to get setup.