The bus was going about 110 kilometres an hour in a 50 km/h zone on Highway 5, according to a commercial vehicle safety officer.
Greyhound says the driver has been removed from service pending an internal investigation.
"The entire situation will be looked at, the circumstances surrounding the speeding incident. From there, a determination will be made regarding any appropriate disciplinary action," said Greyhound spokesman Maurice Harris.
The bus was traveling from Edmonton to Vancouver.
The 19 passengers aboard were forced to wait at a restaurant until a second bus came to take them to their destinations.