A citizen business bank arena is a small business bank that’s been certified by the province of Ontario. This is a very unique program that allows small business owners to operate within the province with a small bank that’s not as big as a traditional bank. It’s great for people to start small businesses so they can become more efficient, but there are also some advantages that come with being affiliated with a citizen business bank and a smaller bank.
Citizens banks are very different from regular banks. A citizen bank is more like a savings and loan, but no credit and no checking. This is because the citizens bank is required to provide its clients with the exact same services you would get from a credit union or small bank, but without the risk. There are several advantages to being affiliated with a citizen business bank, but by and large these advantages aren’t nearly as significant as you’d think.
Citizens banks are like credit unions but without the restrictions. The most significant difference between a citizen bank and a regular credit union is that a citizen bank requires that clients not only have the exact same minimum balances as a credit union, but also have an exact similar amount of money or money equivalent. So if you have four thousand dollars in your bank account, you can be affiliated with a citizen bank and still not be required to take any action that a credit union would.
Citizens banks are more like “super-creditors” than a credit union. They are the “credit unions” in which the bank accepts deposits in exchange for interest.
Citizens banks and credit unions have two very different roles. Citizens banks offer an array of services that a credit union can not. Citizens banks have their own branch, for example, but they also have a website and email address. They are able to open accounts, receive payments, open loans, and also make loans. They are, however, generally not permitted within a credit union’s building because they generally are not permitted to accept deposits.
So if you’re a Canadian citizen, you’re not allowed to have a bank account in the US. However, because the bank is within Canada, it’s considered a Canadian bank. So, if you’re a Canadian citizen, you can go to a US bank and open a Canada bank account and use it there. If you have a Canadian bank account, you can use the US online bank account application.
And just for the record, the Bank of Canada is actually quite active online. There is a website where you can register to use online credit union accounts. There is a website where you can get a Canada bank account. And, if you are a US citizen, you can use the US online bank account application.
Why not do it? Because it’s so easy to use online banking online, and that’s all the more reason why I would go to a US bank.
Yes, the US has the most banks online, and that includes the Bank of Canada. But Canada has the most financial institutions online, too, and that includes most banks online, and that includes the Bank of Canada. Canadians are just as savvy, and just as willing to use their online banking accounts.