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What is Venn?

Jaden Arlene avatar
Written by Jaden Arlene
Updated over a week ago

Venn is the most affordable and easy way to manage your business banking needs. We offer the best currency exchange rates in Canada, chequing accounts in multiple currencies, domestic and international bank transfers, and access to corporate Mastercards to manage your finances.

Open a Venn account to unlock:

  • Local bank accounts in CAD, USD, GBP and EUR

  • Competitive FX rates in Canada (up to 10X cheaper than any competitors)

  • Low-cost domestic transfers (Interac, EFT, ACH, FEDWIRE, SEPA, FPS)

  • Corporate cards with Mastercard and cashback rewards

Savings you can immediately expect:

  1. Fees to send a Wire (SWIFT):
    Venn: $6 - $10 only
    Others: $45 and up

  2. Fees to convert currencies:
    Venn: 0.25% - 0.45% only
    Others: 3.00% + $10 fees

  3. Fees on card:
    Venn: $0 credit card fees
    Others: Expensive late fees

Benefits from a Venn Mastercard you can immediately expect:

  1. No Surprise Fees
    The Venn Mastercard only works if you have enough funds—so no unexpected credit card charges.

  2. Instant Virtual & Physical Card
    Get a virtual card instantly for online use. Physical cards can arrive within 3 business days.

  3. Cashback Rewards: Earn 1% on your card purchases—automatically save as you spend on business essentials.

  4. Great FX Rates
    Enjoy low FX rates from 0.25%—much lower than the 3.00%+ charged by other cards.

  5. Smart Currency Matching
    We’ll use your USD, GBP, or EUR balance if available—so you avoid conversion fees.

  6. No Funds? No Problem
    If your foreign currency balance is low, we’ll automatically process the transaction in CAD.

  7. Smart Expense Controls: Manage all company spending with unlimited cards, set individual limits, and lock or delete cards anytime.

See the video below for a Full Platform Demonstration of Venn:

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