Banking services for self-employed workers

Advice and banking services for independent workers

Becoming a self-employed worker might seem like a dream come true, but it also comes with its fair share of challenges. You’ll have to handle tasks that may go beyond your expertise. How good are you at selling your service/product? Can you organize your accounting? What about taking advantage of tax benefits? That’s why we’ve designed our banking tips and solutions to help simplify your finances.

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Separate your business and personal finances

Open a separate account to manage your business finances. On top of facilitating your accounting and tax preparations, this will help strengthen your credibility with clients and partners.

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Good to know: the tax rules for self-employed workers are more complex. Learn which revenues you must declare and how to reduce your taxable income.

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Start saving mone

Seeing as you’re responsible for building your retirement fund, making sure to max out your RRSP and TFSA every year is key to setting yourself up for success. Don’t forget to save some money in a savings account to pay your taxes.

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Good to know: you can set up systematic savings to automatically put aside a certain amount of money at set frequencies. Saving has never been more effortless!

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Protect yourself from the unexpected

As a self-employed worker, you’re responsible for generating your income. Make sure you have the right insurance to protect your loved ones as well as loan, travel or credit card insurance.

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Good to know: If you’re a homeowner, life, disability and critical illness mortgage insurance could help you continue your payments in case of a loss of income.

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Personalized financing options

We know how much your independence means to you. That’s why we’ve created a mortgage offer for self-employed workers who maybe don’t have conventional proof of income.

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Good to know: explore our flexible borrowing solutions to help tide you over if your business hits a slow period.

Thinking about incorporation?

Is your business booming? That may be a sign that it’s time to take the next step ‑ incorporation. Creating a corporation can set the foundation for real growth for your small or medium-sized business. You can count on our expert advice as you enter the next chapter of your entrepreneurial journey.

Launch your business

More resources for self-employed workers

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Economic Impact

Each month, our Chief Economist Stéfane Marion dives into the latest financial news to inform your business decisions. Learn about interest rate changes, the job market, stock market, geopolitical climate, and more.

Watch our videos

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Resource directory

Find the information you need to conduct proper market research, finance your business, choose your legal status, and more.

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Cybersecurity and fraud

Take the time to strengthen your business’ cybersecurity with the Cyberkit created in partnership with Cyberco™. You’ll find practical advice that you should be able to implement into your business practices.

Access the Cyberkit