Banking FAQ

Getting Started

What are the documents needed by my dealership in order to sell B2B Bank banking products?

A B2B Bank distribution agreement between your dealership and B2B Bank must be signed. Please contact your local Business Development Representative for more information on this process.

Does B2B Bank pay commissions on its banking products

Yes, a 25 bps annualized trailer is paid on daily closing balances.

How often are commissions paid?

Commissions are paid to dealers monthly by cheque

The Application Process

How do I submit my client's High Interest Savings Account (HISA) application?

It's easy! After completing the application with your client, simply fax it to 1.866.569.5942. Remember, originals must follow faxed applications. Forward originals to B2B Bank, 199 Bay Street, Suite 600, PO Box 279 STN Commerce Court, Toronto ON M5L 0A2.

What is the difference between a personal HISA and a Business HISA?

The B2B Bank Business HISA is available to Canadian businesses only and the personal B2B Bank HISA is available to individual Canadian residents.

If my client does not hold a business account at another institution are they still able to open a B2B Bank Business HISA?

We are unable to open a B2B Bank Business HISA unless the client holds a business account elsewhere. The Inter-Institution Funds Transfer (IIFT) must be from one business account to another and the account must also be held in the same name as the B2B Bank Business HISA.

What is the approximate processing time to underwrite a line of credit?

For an Unsecured Line of Credit, a decision will be sent to the advisor within 2 business days following receipt of the application at B2B Bank.

Account Access

How can my clients access their accounts?

Clients can access their accounts in a couple of ways: online through the B2B Bank website (b2bbank.com/onlinebanking), or by calling the B2B Bank Telebanking Centre at 1.866.334.4434. In both cases, however, they will need to contact the Telebanking Centre to obtain an access code and temporary password which are required for the initial registration.

As an advisor, do I also have online access to view my clients' accounts?

Only your clients have online access to their High Interest Savings Account, Business High Interest Savings Account or Line of Credit. You however, have access to their High Interest Investment Account.

Can my clients transfer money between their B2B Bank account and an account at other financial institution?

Absolutely. Your clients can easily access their funds through our Inter-Institution Funds Transfer (IIFT) capability. To register, all they need to do is complete and sign an IIFT form and forward it to our office with a personal cheque (payable to themselves) from the financial institution in which they wish to transfer funds. For Business HISA clients, a business cheque, payable to the business is required.

Can my client transfer funds between their B2B Bank Business HISA and their B2B Bank HISA?

Yes, certainly. We simply require a completed and signed letter of direction requesting the transaction. The document may be faxed to B2B Bank Client Services at 1.866.569.5942.

How can my clients withdraw funds from their B2B Bank accounts?

There are a few ways your clients can withdraw funds:

  • By writing a cheque on their B2B Bank Line of Credit.
  • By taking advantage of our IIFT capability either online or by calling the B2B Bank Telebanking Centre at 1.866.334.4434 – available for savings accounts and lines of credit.
  • By using their B2B Bank debit card at any ABM (access fees will apply) or at point-of-sale terminals (Interac®) – available for lines of credit only.

Chip-enabled debit card

What is a chip-enabled debit card?

A chip-enabled debit card is a banking card embedded with a microchip encrypted in such a way that the information is extremely difficult to copy or reproduce. This latest fraud prevention technology makes chip cards extremely secure, which is why all Canadian financial institutions and merchants are gradually adopting the chip technology.

Why is B2B Bank changing to chip-enabled debit cards?

By switching to a chip-enabled debit card, B2B Bank offers clients cutting-edge security features and, at the same time, adheres to new industry standards followed by Canadian financial institutions and merchants.

What is the difference between debit cards and chip-enabled debit cards?

Current debit cards only have a magnetic stripe while chip-enabled debit cards are also embedded with a microchip. Chip-enabled debit cards will continue to carry the magnetic stripe until merchants have transitioned over to chip-enabled terminals. The magnetic stripe will also allow cardholders to make transactions in countries that have not yet implemented the chip technology. When making transactions, cardholders will need to insert their card in the terminal and leave it there until the transaction is confirmed. As usual, the Personal Identification Number (PIN) must be entered for each transaction.

Can clients modify the PIN sent by B2B Bank?

PINs can be modified at any Laurentian Bank ABM. For a full list of Laurentian Bank ABMs, please refer to the Contact Us section of laurentianbank.ca. Due to security reasons, PINs cannot be modified over the telephone.

How do clients obtain a new PIN if they forget the one provided by B2B Bank?

Should a client forget their PIN, they must contact B2B Bank Telebanking Services at 1.866.334.4434 to obtain a new chip-enabled debit card and PIN.

For More Information

If my clients have specific questions about their accounts and I am unable to assist them, who should they contact?

Please refer your clients to the B2B Bank Telebanking centre at 1866.334.4434, Our Client Services Representatives are available to assist with enquiries Monday to Friday, from 8:00 a.m. to 8:00 p.m. ET and
Saturday & Sunday, from 9:00 a.m. to 5:00 p.m. ET.

What are your hours of operation?

B2B Bank Client Services is open from Monday to Friday, 8:00 a.m. to 8:00 p.m. ET. Please call 1.800.263.8349.