Do you support business accounts?
What types of businesses can open corporate accounts?
Newton accepts the following entities for business accounts:
The following are entities we do not accept:
- Sole proprietorships
- Unincorporated associations or organizations
- Unlicensed businesses or organizations
- Money Service Businesses
- Entities that offer one of more of the following services:
- Foreign exchange dealing
- Remitting or transmitting funds
- Issuing or redeeming money orders, traveller’s cheques or anything similar
- Dealing in virtual currency
- Crowdfunding platform services
- Payment Service Providers
- Invoice payments services
- Payment services for goods and services
- Gatekeeper entities
- Legal Firms
- Accounting Firms
- Entities organized outside of Canada
What is the difference between a personal account and a corporate account?
A business account will share the same interface and appearance as a personal account. However, please note that as a corporate account, you will need to file any taxable events as part of your business taxes. You can also connect your business bank account to your corporate Newton account to easily fund your account.
Can I have more than one authorized user on the account?
At this time, there can only be one authorized user who can manage and trade on the account.