A CAD bank account in your company’s name.
Canadian details your clients can pay by EFT or wire, issued to your company beside USD, EUR and GBP. Available on Scale.
CADExample- Account name
- Alvor Studio Lda
- Institution number
- •••
- Transit number
- ••• 01
- Account number
- •••• 4783
Northstar CloudEFT+C$8,150.00
What is a CAD bank account for a business?
A CAD business account gives a company Canadian details: an institution number, a transit number and an account number in its own name. With Rivet, Canadian clients pay by EFT or wire, and the dollars land in a CAD balance beside USD, EUR and GBP. It is available on the Scale plan, after verification.
What each line does
Institution number
Three digits that identify the financial institution.
Transit number
Five digits that identify the branch. Canadian payers enter it beside the institution number.
Account number
Yours alone, issued in your company’s name.
How clients pay you
Canadian businesses pay suppliers mostly by EFT, and by wire for large amounts.
- EFTBanking days, in batchesRegular supplier payments
- WireThe same day on business daysLarge amounts
Who it suits
Bill in CAD and spare the client a USD conversion at their own bank’s rate.
Price in Canadian dollars and collect them in a balance of their own.
Hold CAD beside USD and convert between them when the rate suits you.
From Scale
$500 a month
Scale adds CAD and HKD accounts, 25 currencies in all and the lowest published fees. FX from 0.30%.
Yes, through a registered company in a country we support. Everyone owning 25% or more is verified with ID and proof of address.
It avoids pushing a USD conversion onto them, and it avoids the client’s bank converting at its own rate.
Scale, at $500 a month. Scale also adds HKD and 20 more currencies, 25 in all.
Rivet is a financial technology platform, not a bank. Regulated partner institutions hold and move the funds, and to the person paying you the details work like any others.
You apply in about 15 minutes. We verify the company before the account opens, and the verdict comes within 3 business days.
