How to open a new small business account
Click-along with this demo or scan the steps below
Before you begin
Before you begin you will need to:
- Self-identify as a new business client to CWB. (This quick guide is not intended for existing clients.)
- Have your driver’s license and mobile phone handy
- Gather information about your business including:
- Number of employees
- Federal business number
- Shareholder information
Step 1: Getting started
- Confirm you business meets the requirements for a CWB account.
- Enter your Contact information including your business email address and mobile phone number. You will need to verify you’re not a robot then select “next.”
- A verification code will be sent to your mobile phone number.
- Enter the verification code and select “continue.”
Step 2: Selecting account and financial solutions
- Select the type of accounts your business will need. Each account description includes a list of services and fees. You may pick only one account, or several depending on your needs.
- Once you have selected your business accounts select “next” to move to Financial Solutions, here you may choose to select a revolving line of credit for your Business. You may also choose payment and receivable solutions as well as corporate credit cards.
- Select next and then select the check box to signify you having given your permission and then select “next.”
Step 3: About your business
- At this point you can pre-fill some of your business information by logging into your accounting software or you can skip this step and fill in the information manually.
- During this step you will need your business registration number and federal business number as well as details about revenue, industry and the number of employees. You may apply for business accounts as a corporation, a general partnership or as a sole proprietorship.
- Once you have completed adding your business information select “next” to continue your application.
Step 4: About you
- You can scan your driver’s license or skip this step and complete your personal information manually.
- Complete adding the information about yourself including your name, address, birthdate and social insurance number (SIN) (it is optional to include your SIN).
- Select a security question and answer, then select “next.”
Step 5: Add a debit card
- To add a debit card to your account or accounts select “yes” then click the check box to signify your consent and acceptance of the terms and conditions, then select “next” to continue.
Step 6: Your role
- Complete the information in this step and include the relevant information for anyone else who is an owner, major shareholder, or partner and who will have signing authority on the account.
Step 7: Fine print
- Please review and select the checkbox to signify you agree then select “next” to continue.
Step 8: Tax information
- Review the tax information and select the check box to signify your agreement, then select “next” to continue.
Step 9: Account details
- Provide details for each of your business accounts including how the account will be used, the number of authorized signers, deposit and transfer information then select “next” to continue.
Step 10: Line of credit
- Identify which account you will use to access your line of credit.
- Select the check box to signify you accept the terms and conditions and agree to CWB’s lending agreement.
- Select “next” to continue.
Step 11: Access to digital banking
- You will see a list of all authorized signers; you can add delegates like a bookkeeper or other person who helps with your business.
- Select “next” to continue.
Step 12: Approval
- The approvals page will list all your account types and their account numbers as well as your client ID number.
- A confirmation email will be sent to your email address.
Step 13: Fund your account
Step 14: You're finished!
- Welcome to cwb.digital, your new home for sharper, more modern digital banking!
- Select “go to digital banking” to sign into your accounts.