Business savings accounts

Put your business savings to work earning you interest, with our easy-access, high-rate savings accounts.

Explore our business savings account options

Everyday Business Savings

Perfect for savings you want to keep handy and use soon.

$0/month
Unlimited deposits
5 withdrawals
Additional transactions $1.25*

More details

Unlimited transactions include:

Direct deposits
Online transfer deposits
Online transfer withdrawals
Incoming Interac e-Transfer® payments
Request for Interac e-Transfer® payments
In-branch deposits
In-branch transfer deposits

Limited transactions include (5 included):

Outgoing Interac e-Transfer® payments
Online bill payments
Cheque withdrawals
Debit card purchases, including point of sale & Interac® Online payment
Pre-authorized debits
THE EXCHANGE Network® ATM withdrawals (ATMs outside this network may incur additional charges)
In-branch bill payments
In-branch withdrawals
In-branch transfer withdrawals

Find a branch

Book an appointment

High Interest Business Savings

Perfect for savings you’re setting aside for bigger goals.

$0/month
Unlimited deposits
2 withdrawals
Higher interest
Additional transactions $5*

More details

Unlimited transactions include:

Direct deposits
Online transfer deposits
Online transfer withdrawals
Incoming Interac e-Transfer® payments
Request for Interac e-Transfer® payments
In-branch deposits
In-branch transfer deposits

Limited transactions include (2 included):

Outgoing Interac e-Transfer® payments
Online bill payments
Cheque withdrawals
Pre-authorized debits
In-branch bill payments
In-branch withdrawals
In-branch transfer withdrawals

Find a branch

Book an appointment

Need help choosing an account?

Don’t hesitate to reach out. We’re just a live chat, video, or phone call away when you need us.

Get in touch

Select Image

Manage your money your way

Whether you prefer to bank online, in person or out and about, we’ve got you covered.

Mobile app

Pay vendors, deposit cheques and more – all from your phone or tablet.

Download iPhone app

Download Android app

Mobile app

Manage your finances with ease from your home, office or while out on business.

Branch network

Get friendly, in-person support at any branch in our large, local network.

Find a branch

Member Hub

Give us a call. Our Member Hub team will be happy to help you get things done.

Local: 604-419-8888

Toll-free: 1-866-736-4334

ATM network

Access cash surcharge-free at 43,000 ATMs across Canada and the US.

Find an ATM

Telephone banking

Telephone banking services are not available until further notice. Online banking services is available 24 hours a day, 7 days a week to perform day to day transactions including account balances, bill payments or transfers. As another alternative, a Member Hub team member would be happy to help you set up automated re-occurring transactions such as bill payments and transfers.

Explore digital banking

Boost your savings know-how

Your guide to earning tax free income

Ever thought of using business funds to invest in a Tax Free Savings Account? It can be a great way to earn more income. Learn all about the TFSA and its benefits.

Read on, opens in a new tab

Get more tips

Your savings account questions answered

What is a savings account? How does a savings account work?

A savings account is similar to a spending account. You can deposit and withdraw funds from it anytime you like. The difference is that you earn interest on your money in a savings account. How much depends on the type of account you choose (regular vs high interest savings account) and the interest rate it offers.

To see our latest savings account interest rates, visit our Rates page. You can also use our Savings Calculator to explore how compounding interest helps your money grow.

What is a high interest savings account?

A high interest savings account works much like a regular savings account. The big difference is in the amount of interest you earn. With a high interest savings account, your financial institution pays you a higher interest rate than with a regular savings account.

To see our latest savings account interest rates, visit our Rates page. You can also use our Savings Calculator to explore how compounding interest helps your money grow.

How do I open a business savings account?

We’d love to have you join Gulf & Fraser! There are several easy ways to open a business savings account with us:

By appointment – Book a mobile visit wherever works best
In person – Find your nearest branch
By phone – Call our Member Hub at 604-419-8888

To learn more about what to have on hand during setup, please download our Account Opening Checklist.

What do I need to open a business savings account?

To set up your business savings account, we’ll need certain documents to verify your identity. For more information about what to have on hand, please download our Account Opening Checklist.

Are business accounts covered by deposit insurance?

Yes, both our business spending and business savings accounts are 100% guaranteed by the Credit Union Deposit Insurance Corporation (CUDIC).

To learn more, take a look at our CUDIC page.

What is a Tax Free Savings Account? Can I use it for my business?

A Tax Free Savings Account (TFSA) is a registered investment plan. It helps you save for any goal or purchase completely tax free.

Incorporated businesses can’t use a Tax Free Savings Account. But, if you have extra funds, you can withdraw them from your corporation and invest them personally in a TFSA. With no restrictions on withdrawal or use of funds, doing so can be a great way to earn tax-free investment income.

Is investing in a Tax Free Savings Account the right strategy for your business? That will depend on a number of factors, including your personal and corporate tax rate, and eligibility for the small business deduction. But you don’t have to figure it out alone. Our advisors can help review your situation and determine the best investment plan for you.

Book a chat

Lost or stolen debit card?

Report it right away so we can help secure your accounts against unauthorized access.

Canada & US: 1-888-277-1043
International (Collect): 1-306-566-1276

Select Image

Other solutions you may want

Spending accounts

Whether you’re just starting out or already established, our business spending accounts make managing your cash flow a breeze.

Explore spending accounts

Term deposits

Want a secure way to invest for your business? A term deposit provides guaranteed growth and 100% protection of your initial investment.

Explore term deposits

Statement of Commitment: Code of Conduct

Gulf & Fraser is committed to upholding the Code of Conduct for the Credit and Debit Card Industry in Canada. The Code was designed to protect credit union members’ interests related to the issuance and acceptance of payment cards, and to the operation of payment card networks.

*Unlimited transactions include: Direct deposits, Online transfer deposits, Online transfer withdrawals, Incoming Interac e-Transfers, Request for money Interac e-Transfers, In-branch deposits, In-branch transfer deposits

Self-serve transactions include: pre-authorized debits, bill payments, Exchange ATM withdrawals (including Gulf & Fraser ATMs), point of sale, online transfer deposits, online transfer withdrawals, Interac e-Transfers (outgoing), Interac e-Transfers (request for money) and cheque withdrawals.

Full-serve transactions include: in-branch withdrawals and in-branch transfer withdrawals.

Transactions at non-Exchange Network ATMs, foreign, and international ATMs will continue to incur the existing applicable fee. 

Additional transactions exceeding the package limit will be charged $1.00 for each self-serve transaction or full-serve transaction. For the High Interest Savings, additional transaction fees exceeding the package limit are $5.00 per each self-serve or full-serve transaction.

Return to top