Source: https://rivet.global/cad-bank-account
Last updated: 2026-11-06

# 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.

[Open an account for free Open free account](https://app.rivet.global/register) [Talk to sales](https://rivet.global/talk-to-sales)

CAD Example

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.

Updated November 2026

## 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.

- EFT Banking days, in batches Regular supplier payments

- Wire The same day on business days Large 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%.

## Get paid in CAD by EFT and wire.

Regulated partner institutions hold the funds.

[Get started for free](https://app.rivet.global/register) [Let's talk](https://rivet.global/contact)

FAQ

## Questions about CAD accounts

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.

## Questions

### Can a non-Canadian company open a CAD account?

Yes, through a registered company in a country we support. Everyone owning 25% or more is verified with ID and proof of address.

### Why bill Canadian clients in CAD?

It avoids pushing a USD conversion onto them, and it avoids the client’s bank converting at its own rate.

### Which plan includes CAD details?

Scale, at $500 a month. Scale also adds HKD and 20 more currencies, 25 in all.

### Is this a bank account?

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.

### How long does it take to open?

You apply in about 15 minutes. We verify the company before the account opens, and the verdict comes within 3 business days.