Scotiabank has fully online account-opening service for small businesses

Toronto – Scotiabank has launched a fully online account-opening process for small businesses.

Effective immediately, small business owners across Canada can open operating and savings accounts with Scotiabank in less than 20 minutes, online at their convenience, the bank said in a news release.

In July Scotiabank announced it was the first bank in Canada to offer consumers the ability to open a personal chequing or savings account online in less than five minutes. In June, through a partnership with Kabbage, the bank began offering, approving and funding small business loans for existing customers in as little as seven minutes.

“Our new online account opening experience for small business owners is easy to use, intuitive and fast,” said Laurent Mareschal, senior vice-president of small business banking at Scotiabank.

“We know that for small business owners, wherever they bank today, business is personal, and time is incredibly important. Rapid online account opening is another way that Scotiabank is committed to helping these important and primary drivers of the Canadian economy to bank whenever, and wherever they need to.”