Does it matter whether my corporation is federal or Ontario when I open a business bank account?

For opening a business bank account in Canada, both federal and Ontario provincial corporations are treated equally by banks. Major Canadian banks will open accounts for both CBCA and OBCA corporations. What matters to the bank is that you can provide: the certificate of incorporation, the articles of incorporation, a corporate resolution authorizing the banking arrangement and identifying who is authorized to sign, and personal identification for the directors and officers opening the account.

There is no meaningful difference in the banking experience between a federally and provincially incorporated company for a standard business bank account. Banks may ask for slightly different documents depending on their own internal procedures, but they accept both types of corporation.

One practical distinction: a federal corporation operating in Ontario should also show its Ontario extra-provincial registration certificate to some banks, which may request evidence that the corporation is properly registered in the province where the account is being opened. This is not universal, but it is worth being prepared.

The choice between federal and Ontario incorporation should not be driven by banking considerations. Choose the jurisdiction that makes sense for your operations, name protection, and growth plans — the banking relationship will follow.