A Canadian dollar account for a business that earns and spends at home. Hold Canadian dollars as the primary balance, pay domestic suppliers from it, and keep global payment flows in the same place instead of splitting them across a second bank.
Some platforms hold and settle in a limited set of currencies, so Canadian dollar revenue can arrive converted and then need converting again to be spent at home.
Revenue converted at whatever rate applied that day, then converted back to settle a domestic invoice, pays two spreads on money that only had to travel one way.
A domestic bank for the home currency and a separate global platform for everything else means two logins, two fee schedules and a reconciliation that closes late.
It is a company balance denominated in Canadian dollars, funded from the company's own accounts and used to settle domestic invoices. Where a business also needs to be paid by third parties, that is what a dedicated IBAN account is for, and the two sit side by side in the same profile.
Two layers sit behind it. The balance holds the funds and is what outgoing payments are made from; a dedicated IBAN account is what third parties pay into. Each payment leaves over the rail that suits the destination, and carries a status your financial team can follow.
Funded from the company's own accounts. Domestic invoices and outgoing payments are settled from here.
What third parties pay into, kept separate from the balance. See IBAN account.
The two sit side by side under one profile, so the currency a company holds and the details other people pay into never have to be the same thing.
Fenryx is operated from Vancouver by a Canadian money services business registered with FINTRAC, so the Canadian dollar is the primary balance here rather than a currency bolted on at the end. It sits inside a multi-currency account, beside the other currencies a company earns and pays in.
Moving between them is a conversion: the rate and the applicable cost are confirmed before you approve it, rather than applied out of view. The same platform handles global payouts, so a company paying a domestic supplier and a contractor abroad does both here. Onboarding runs online through KYB review, with no bank branch visit, and the currencies enabled are agreed with you rather than published as a list.
Apply online and send documents remotely. Every company opens through KYB review.
A Canadian dollar balance funded from the company's own accounts and used for outgoing payments. To receive funds from third parties, see IBAN account.
Canadian dollars beside USD, EUR and the rest of a multi-currency set. See currency accounts.
Payments leave over the rail that suits the destination, at a cost confirmed in advance.
Every payment carries a status you can follow on the platform, for your own financial records.
Canadian dollar funds are held as CAD and used to settle domestic invoices, so nothing converts before you decide it should.
Domestic revenue converts once, with the rate and applicable cost confirmed before approval, then the payment leaves for the supplier's market.
Foreign income lands in a balance of its own and is converted to Canadian dollars at a time the company chooses, rather than automatically on arrival.
One platform replacing a domestic bank plus a global provider, with financial reporting in one export. See international business accounts.
Tell us who pays you in Canadian dollars and who you pay abroad, and we will confirm what is available before paperwork starts.
Open a CAD business accountWorking in euros or dollars too? See the EUR business account and the USD business account.
Tell us about the company and how money moves through it.
The company and its beneficial owners are verified.
The CAD balance and platform users are configured.
Fund the balance and make your first payment.
| Account fee | Quoted per company |
| Transaction fee | Quoted per account |
| Conversion | Rate and applicable cost confirmed before you approve |
| Limits | Confirmed at onboarding |
Registered legal entities only; we do not open personal accounts. A company need not be Canadian to hold Canadian dollars, because the balance follows the currency, not the place of registration.
It does depend on business type, jurisdiction and the outcome of KYB review, and financial crime screening continues for the life of the relationship. No currency or rate is guaranteed beforehand.
A summary. See our AML Policy.
A company balance denominated in Canadian dollars, funded from the company's own accounts and used for outgoing payments and domestic invoices. Where a business needs to be paid by third parties, a dedicated IBAN account sits alongside it.
The application is online and documents are sent remotely. Every company opens through KYB review, so it goes live once that review is complete rather than on a timetable we could promise.
No. Fenryx is a payment account provider operated by Globally United Tech Corporation, a money services business registered with FINTRAC in Canada. Balances held with Fenryx are not bank deposits and are not covered by deposit insurance.
Yes. CAD is the primary balance and other currencies sit alongside it, which is what makes a multi-currency account useful for global trade. On every conversion the rate and the applicable cost are confirmed before you approve it.
Per-transaction fees, and how the conversion cost is presented against the rate. Figures are quoted per company, following the currencies and volumes involved. For dollar and euro flows see the USD business account and the EUR business account.
Tell us who pays your business in Canadian dollars, and who your business pays.
Fenryx is operated by Globally United Tech Corporation, a money services business registered with FINTRAC in Canada, Vancouver, BC. Availability, currencies, rails and limits depend on business type, jurisdiction and KYB review. Balances held with Fenryx are not bank deposits and are not covered by deposit insurance. Settlement timing depends on the rail and the receiving financial institution.