Best Small Business Accounts

Save on fees and easily access your business accounts online. Start conducting your business faster with no fees today!

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Best Small Business Accounts

A businessman standing next to an open sign

Choose the best account for your small business banking.

Account PackageMonthly FeeMonthly Debit Transactions Included
2$20 ($0 if you maintain a $7,000 balance)50
Our most popular!
$35 ($0 if you maintain a $12,000 balance)85
4$50 ($0 if you maintain a $18,000 balance)120
5$75 ($0 if you maintain a $28,000 balance)175
Best value for high transactions!
$110 ($0 if you maintain a $30,000 balance)Unlimited

Important Resource

Discover the benefits!

  • Pay low to no fees
  • Gain interest dollars
  • Earn cash dividends

Enjoy low to no bank fees

No matter what your account balance is, you could save as much as $300/year in bank fees compared to other financial institutions. If you maintained a $7,000 balance, you could enjoy a no fee business account and save as much as $540/year! 

Earn interest on your deposits

Every business account earns interest. Your interest is calculated daily on the closing balance of your account and paid at month end. The interest rate is tiered which means as your account balance grows, so does the interest rate.

Earn cash for everyday banking

With our Member Rewards program, you’ll earn cash dividends by having your business account with us. The more you bank with us, the more you benefit!

Save money with affordable business banking

Pay low to no bank fees and earn interest and cash dividends on your business dollars. Better your business today!

Rates subject to change without notice.

Learn more about our accounts and services. Review our Account and Fee Information (pdf).

Identify the interest rates applicable to your account(s) and how they're calculated. Review our About Our Interest Calculations (pdf) document.

Looking for a Small Business Account Designed for You?

Business accounts are part of the foundation of just about every company, large and small. And for small businesses in particular, finding the right business bank account is absolutely essential.

Just think about all the variables. Some business accounts may require you to pay a penalty for not maintaining a minimum balance, or offer paltry interest rates. They might include all kinds of fees. The availability of tools like business online banking, or lack of them, is crucial to consider, too.

The best small business bank accounts in Canada will align with your needs as a business owner. They won’t include all kinds of hidden charges, or force you to visit a branch or advice centre each and every time you need to make a transaction or just want to check in on your account.

Make Financial Oversight Easier for Your Small Business

It’s not always easy to run a small business! You have to wear plenty of hats, managing the overall company and delegating responsibilities to people you can trust as you focus on core business activities.

You have plenty of options as a small business owner when it comes to bank business accounts. You’re not limited to choosing a big bank as a partner. You might find more effective support from a credit union, where membership drives a shared sense of purpose and provides plenty of rewards.


Benefits for Your Business

When you partner with Innovation, you can count on:

  • Pay a small monthly fee, or maintain a minimum balance with no fee. You decide! 
  • Minimal overall fees
  • Convenient and secure business banking online
  • The opportunity to earn not just interest, but cash dividends as well
  • Convenient and secure web business banking
  • Dependable support and service from local, experienced, and skilled professionals

A Focus on Low Fees and Banking Options

We know that flexibility is important for small businesses. That’s why we offer six account packages designed to align with a wide variety of financial and operational needs. Whether you’re just starting out or have an established small business, you’ll find something that works for you.

Fees eat into the benefits that a business bank account provides. We keep them as low as possible for our members, including options to waive fees entirely by maintaining a minimum balance. That’s the kind of flexibility that makes a difference for small businesses.

Your New Business Banking Partner

From business web banking to low fees and the opportunity to earn interest and dividends, you deserve an account that works for your small company. Don’t settle for high costs and an institutional approach that can leave you feeling like just one more customer.

When you join Innovation Federal Credit Union, you’re more than a customer — you’re a member. And our organization can only succeed when our members are satisfied. 

Contact us for more information on how you can get the best savings on your business accounts.