Business Operating Account

At IC Savings, we're committed to providing you with the personal service, support and advice you need to grow your business and succeed in an ever-changing marketplace. A complement to Business Savings+, this is the perfect, cost-effective operating account to handle all the day-to-day transactions for your business.

Talk to us too about our merchant program, credit options like mortgages, loans and lines of credit and the Visa Low Rate and No Fee Cash Back credit cards designed for businesses like yours.

Account features

  • Free and unlimited deposits
    • Applies to those made in-branch, online by electronic fund transfer (EFT), at an IC Savings’ ATM1 or by mobile, using Deposit Anywhere2,3
  • Free and unlimited transfers
    • Applies to those made in-branch, online by EFT, at any ATM on THE EXCHANGE or ACCULINK networks4 or by mobile, using Deposit Anywhere
  • Free and unlimited withdrawals when made in-branch or at any ATM on THE EXCHANGE and ACCULINK networks4
  • Free bill payments made online or using our mobile app
  • One free debit transaction for every $500 of the lowest balance of each month. Otherwise, $0.75 applies for each cheque and EFT withdrawal and $1.50 for each sent Interac e-Transfer®
  • Detailed statements, including cheque images, are posted online for convenient access, or mailed within days of each month-end at $1.50/statement

Common features, all the time

  • Deposits are 100% protected and guaranteed by the Deposit Insurance Corporation of Ontario (DICO).5
  • Bank ding-free®. Single-signature business operating accounts don’t pay surcharge fees6 on debits7 when using a Member Card® debit card at ATMs on THE EXCHANGE® or ACCULINK® networks across the country. (Deposits should not be made at ATMs on these two networks as deposits will be returned.)
  • 24/7 online, mobile and ATM access, or in-branch personal service, Monday to Saturday, where the espresso is always on us!

Review what you need to open a business account with us. 

1 Deposits to business accounts can only be made at an IC Savings’ ATM. Deposits should not be made at ATMS on THE EXCHANGE® or ACCULINK® networks as these deposits will be returned.

2 Use our mobile banking app on your smartphone to deposit cheques directly to your account. Learn more about the secure Deposit Anywhere™ service here.

3 Deposits made using Deposit Anywhere are subject to a five-day hold.

4 Learn more and access the fee ATM locator app at

5 and deposit insurance for businesses and DICO at

6 This benefit is currently not available on multi-signature business accounts.

7 Surcharges are waived for withdrawals made on these two networks.  Otherwise, $1.50/cash withdrawal when using ATMs outside these networks, and $3/cash withdrawal when using ATMs outside of Canada.


Member Card® is a registered certification mark owned by Credit Union Central of Canada, and is used under license.
THE EXCHANGE® is a registered trademark licensed for use in Canada by Ficanex Service Limited Partnership.


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