Providers · Business accounts

Venn

Venn

4 plans in our database · licensed as MSB · pricing in CAD

Data last verified: 21 August 2026

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Independent data. Every figure below comes from Venn's published pricing, checked by hand - never from a sales deal. Missing fees show as “n/a” and are never counted as free. Methodology · Spotted an error? Tell us

Plans & fees

PlanTypeMonthly feeSetupFX feeSWIFT out
EssentialsbusinessFreeFree0.45%*CAD 10
PlusbusinessCAD 40/moFree0.35%*CAD 8
ProbusinessCAD 100/moFree0.25%*CAD 6
CustombusinessBespokeFree0.25%*CAD 6

* Some FX rates are “from” or “up to”. ⚠ “from” = starting price (variable pricing) - the final fee depends on your profile. “Bespoke” = custom pricing on request. Compare across providers on the fee tables.

What you get

SWIFTCardsVirtual cardsMulti-currency

Hold up to 4 currencies · local account details in CAD, EUR, GBP, USD.

Card limits

The card can't pay for paying salaries or compensation.

Getting in, and what you get

Pays up to 2% on CAD, USD balances.

Legal forms

Accepts: Corporation (Inc / Corp) · Sole trader / freelancer.

Not accepted: Partnership (form not specified).

Regulation

Regulated or registered in Canada.

Regulators: FINTRAC

In the fine print

Conditions from Venn's own terms, pricing pages and acceptable-use policy that don't fit in a table. Read in full and checked by hand.

Pricing

  • Fees for sending EUR are billed in CAD-equivalent even when paid from the EUR account balance.
  • Fees for sending USD are billed in CAD-equivalent even when paid from the USD account balance.
  • Fees for sending GBP are billed in CAD-equivalent even when paid from the GBP account balance.

Limits

  • Business onlyDaily Interac e-Transfer sending limit depends on entity type: $3,000 CAD for sole proprietors versus $10,000 CAD for corporations.
  • Business onlyEFT transfers are capped at $100,000 CAD per transaction; wire (SWIFT) transfers have no set per-transfer limit.

Payments & transfers

  • Currencies other than CAD, USD, GBP, and EUR can only be received via international wire (SWIFT); once received, funds are automatically converted to CAD.

Cards

  • Business only1% cashback on card purchases is uncapped on this plan.
  • Business only1% cashback on card purchases applies only to the first $25,000 CAD spent per month on this plan.
  • Business only1% cashback on card purchases applies only to the first $5,000 CAD spent per month on this plan.

Crypto

  • Engaging in cryptoasset-related activity can be grounds for account closure under Venn's Terms of Service.

Opening an account

  • Venn's Terms of Service describe eligibility in terms of Canadian provincial residency (age of majority "in your province or territory of residence", Quebec excluded), while its help centre and educational content describe the platform as open to foreign business owners. This isn't resolved publicly one way or the other, so non-Canadian-resident applicants should confirm directly with Venn before applying.
  • Venn is not currently available to businesses based in Quebec.

Licence & regulation

  • Venn is a technology company, not itself a bank or a licensed financial institution; account balances are held in trust at partner institutions such as Bank of Montreal and are eligible for CDIC deposit insurance up to applicable limits.

Will Venn actually accept you?

Acceptance depends on where your company is registered, where its owners live, where your money flows - and your sector. The wizard checks Venn's published rules on all of them, and shows you the alternatives too.

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