Opening your first business chequing account and ordering your first business cheques is one of the most defining stationery decisions a Canadian business owner makes — it locks in the bank relationship, the cheque format, the AP workflow, and the brand identity that appears on every supplier payment for years. This guide walks new business owners through choosing a Canadian business bank, opening the account, ordering first cheques, and avoiding the common first-order mistakes. Part of our new business stationery cluster.
Choosing Your Business Bank — The Decision Matrix
The Big Five Canadian banks (RBC, TD, BMO, CIBC, Scotiabank) all offer competitive business chequing for new businesses. The differentiators that actually matter:
- Monthly fees and transaction limits. Typical small business chequing runs $10-30/month with 15-50 included transactions. Heavy AP volumes need higher tiers.
- Branch proximity. If you handle cash deposits or want in-person support, a branch within a 10-minute drive matters.
- Online business banking quality. Test the platform before opening. The bank you use daily should not annoy you.
- Positive Pay availability and cost. Every Big Five bank offers Positive Pay; ask about the business chequing tier required.
- Account manager relationship. A dedicated business banker is genuinely useful for growing businesses. Solo founders may not need one initially.
- Credit unions and Caisses populaires are competitive alternatives — often lower fees, more personal service, but smaller branch networks.
Documents You Need to Open a Business Chequing Account
Every Canadian bank requires:
- For corporations: Articles of incorporation, certificate of incorporation, recent annual return, valid government ID for directors and signing officers, voting authority resolution.
- For partnerships: Partnership agreement, partnership registration (Master Business Licence in Ontario), valid government ID for all partners.
- For sole proprietors: Master Business Licence or trade name registration, valid government ID.
- For all: Initial deposit (typically $25-100), Business Number (BN) from CRA.
Ordering Your First Business Cheques — The Choice Framework
Three formats, three different scenarios:
- Manual Business Cheques ($49) — Best for new businesses without accounting software, field-service operators, restaurants paying suppliers at the back door, solo consultants who write a few cheques a month. Hand-filled with a pen.
- Premium Laser Business Cheques ($69) — Best for new businesses with QuickBooks, Sage or Xero set up. Software-printed in batches. The most-ordered format among new SMBs.
- Extreme Security Laser Cheques ($89) — Recommended even for new businesses if you handle trust funds (law, real estate, property management), write high-value supplier cheques, or operate in fraud-exposed industries.
What to Specify on Your First Cheque Order
- Bank info. Send a voided cheque from your new business account (your bank gives you a few sample cheques when you open the account).
- Business name and address. Exactly as you want them printed. Corporations use legal name; sole proprietors can use operating name.
- Starting cheque number. Pick up where your bank-provided sample cheques ended (e.g., starting at 1001).
- Signing authority preferences. Single signature, dual signature, or dual required above a dollar threshold.
- Optional logo. Send us your business logo file (vector preferred) and we will print it on your cheques.
The First-Order Quantity Decision
Most new businesses underbuy. Typical first-year cheque consumption:
- Solo consultants: 50-150 cheques/year. Order 250 (one manual book).
- Small SMB with 1-3 employees: 200-500 cheques/year. Order 250-500.
- SMB with active vendor base: 500-1,500 cheques/year. Order 500-1,000.
- Operations with weekly AP cycles: 1,500-5,000 cheques/year. Order 1,000-2,500 with standing reorder.
Order what you will use over 6-12 months. The per-cheque price scales with quantity — the 6-month-supply order is barely more than a 3-month-supply order.
Pair Your Cheques with Deposit Slip Books and Endorsement Stamp
Order in one shipment from our Toronto facility:
Frequently Asked Questions
How long does it take to open a Canadian business chequing account?
If you have all documents ready, in-person account opening usually takes 30-60 minutes. Online application processing typically takes 2-5 business days. Some accounts can be opened same-day.
Can I order cheques before the account is fully active?
Yes, but we need your transit number, institution number and account number on a voided cheque (which the bank provides at account opening). Some banks give same-day temporary cheques you can use as a void cheque source.
What if I switch banks later?
Order new cheques with the new bank info. Stop payment or void any outstanding cheques on the old account. We keep your specifications on file so the reorder takes 60 seconds plus the new void cheque.
Should I order business cheques from my bank or from Cheque Store?
Bank-ordered cheques are typically 40-60% more expensive than ordering direct from us — same CPA-006 standard, same bank compatibility, but you pay the bank reseller margin. See our manual cheques buying guide or laser cheques buying guide for detail.
Where does this guide fit in the new business setup process?
This is the banking-and-cheques piece of the broader 90-day stationery checklist. Other pieces include corporate incorporation stationery, your branding starter kit, and tax filing stationery.
Order Your First Business Cheques Today
Premium Laser Cheques — $69 Complete Stationery Checklist
