Personal Finance

business chequeing account with lowest fee

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  • Mar 23rd, 2006 12:59 am
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Newbie
Aug 8, 2005
93 posts

business chequeing account with lowest fee

I'm looking for a business account, which can allow me to occasionally write cheques (maybe 1-2 per month), and that's about the only transactions that I will make.

Which bank or credit union that can allow me to do this, with lowest service fee (or waive the fee is I maintain a lowest amount of balance) ?

Thank you!
I live in the POO!! the Province Of Ontario!!
8 replies
Deal Addict
User avatar
Apr 29, 2002
3855 posts
47 upvotes
Mississauga
PC Financial offers free cheques - what's the difference between a chequing acct and a business cheqing acct? (Aside from that your Business is in the name instead of your own?)
Member
Dec 11, 2003
353 posts
1 upvote
Calgary, AB
simms wrote:PC Financial offers free cheques - what's the difference between a chequing acct and a business cheqing acct? (Aside from that your Business is in the name instead of your own?)
That's basically the only difference. But you can't have a business name in a personal account.

Where are you living? In central Alberta, Community Savings Credit Union charges $2 a month and 0.60 per cheque. They print off cheques for you for free.
Newbie
Aug 8, 2005
93 posts
CoolEddie wrote:That's basically the only difference. But you can't have a business name in a personal account.

Where are you living? In central Alberta, Community Savings Credit Union charges $2 a month and 0.60 per cheque. They print off cheques for you for free.
I live in GTA, any good credit union around here?

Thanks!
I live in the POO!! the Province Of Ontario!!
Deal Addict
Jan 3, 2005
2276 posts
47 upvotes
CoolEddie wrote:That's basically the only difference. But you can't have a business name in a personal account.

Where are you living? In central Alberta, Community Savings Credit Union charges $2 a month and 0.60 per cheque. They print off cheques for you for free.
Are you saying that Community Savings charges those fees for *business* accounts, or personal accounts?
Deal Addict
May 6, 2003
1047 posts
20 upvotes
BMO has different plans for business accounts that include waiving fees for maintaining a minimum balance. I have a plan that waives fees for up to 15 or 20 transactions as long as I maintain a $5,000 min. balance.
Deal Addict
User avatar
Mar 8, 2006
2925 posts
628 upvotes
Toronto
It depends on how many transactions you need...

Since I do minimal transactions, I find DUCA the cheapest business account for my needs.
Member
Dec 11, 2003
353 posts
1 upvote
Calgary, AB
jackboot wrote:Are you saying that Community Savings charges those fees for *business* accounts, or personal accounts?
Community Savings charges that for Business accounts.

I just saw in the forums here somewhere that ING is offering $100 for opening a business account with a min deposit of $1000. You could use that $100 towards the fees ING will charge you so you will get cheap banking.
Deal Addict
Jan 3, 2005
2276 posts
47 upvotes
CoolEddie wrote:Community Savings charges that for Business accounts.

I just saw in the forums here somewhere that ING is offering $100 for opening a business account with a min deposit of $1000. You could use that $100 towards the fees ING will charge you so you will get cheap banking.
Thanks for the confirmation :) Good idea on the ING account too...

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