Sample Sidebar Module

This is a sample module published to the sidebar_top position, using the -sidebar module class suffix. There is also a sidebar_bottom position below the menu.

Sample Sidebar Module

This is a sample module published to the sidebar_bottom position, using the -sidebar module class suffix. There is also a sidebar_top position below the search.
4.2 Opening My Business Account
#200,138 4th Ave SE Calgary, AB T2G 4Z6
Email Us

Search our Site


All businesses need to have a bank account. The bank account must be separate from my personal account. I must open an account at an authorized financial institution. This is a bank or credit union.


Financial Institutes - Banks

  • Cash deposit: Accept and keep money in the bank under the depositor's name
  • Provide loans: Banks give loans for business and other needs. They charge fees and interest rates on loan amounts
  • Provide other money services like the currency exchange, savings accounts and credit cards


Financial Institutes - Credit Unions

  • Credit unions are not-for-profit organizations that operate as a bank
  • They normally have lower fees and loan interest rates than major banks
  • They are not as widespread as banks
  • The updated list of approved credit unions is available on the Government of Alberta credit union updated list website. See Links to Important Websites Section


Financial Institutes - Microlending Institutes

  • Micro-lending institutions provide small-scale loans to certain types of business owners. Some are women-friendly training and lending facilities such as:
      • Momentum
      • Alberta Women Entrepreneurs


How to open a Bank Account?

Step 1:

  • Explore websites and choose a financial institution that meets your needs. Choose a bank that has advantages such as a branch close to your business, a bank with good lending and saving rates and helpful staff. Some banks provide information in several languages.
  • Visiting the bank and meet the customer service representative
  • Share your business needs or business plan (the plan that you have made so far using the tool)

Step 2

Take the following documents to the bank where you want to open a business account:

  1. Business certificate issued ny the registry office
  2. Business contact information: address, phone number, and email address
  3. Photo ID and personal proof of identification. Your identification can be one of the following: a Driver’s license, Alberta ID, Passport, Citizenship or PR Card
  4. Social Security number(s) of the owner(s) of the business