Help me pick a bank
I have a very small business that is incorporated. It currently earns very little, but it is my hobby and want to continue working on it as such.
I am in Vancouver and have narrowed my choices down to the HSBC Business Direct account and the Coast Capital Savings Deposit-For-Free account.
My business makes apps for mobile phones. Some apps are free, but have advertising and the advertisers generally pay by transfer through PayPal. Other apps are paid and I need to give my bank account information to the store owner (Apple, Nokia, etc) for them to transfer the money to the account.
Generally, each payment source pays me once a month (under 5 transactions total per month). So I'd like to find an account that charges no monthly fee and won't charge fees for receiving money through transfers from PayPal and through the electronic transfers.
I've narrowed it down to the HSBC account and the Coast Capital Savings account. I am somewhat unclear what the charges might be for receiving money from PayPal and the direct transfers. I am concerned that some of the banks might treat the transfers as wire transfers, which I know are expensive.
Other than that, I don't have any employees so I am not going to be making many withdrawals. Anyone have experience with these accounts? Am I missing anything in my evaluation? Thanks so much for your help.
I am in Vancouver and have narrowed my choices down to the HSBC Business Direct account and the Coast Capital Savings Deposit-For-Free account.
My business makes apps for mobile phones. Some apps are free, but have advertising and the advertisers generally pay by transfer through PayPal. Other apps are paid and I need to give my bank account information to the store owner (Apple, Nokia, etc) for them to transfer the money to the account.
Generally, each payment source pays me once a month (under 5 transactions total per month). So I'd like to find an account that charges no monthly fee and won't charge fees for receiving money through transfers from PayPal and through the electronic transfers.
I've narrowed it down to the HSBC account and the Coast Capital Savings account. I am somewhat unclear what the charges might be for receiving money from PayPal and the direct transfers. I am concerned that some of the banks might treat the transfers as wire transfers, which I know are expensive.
Other than that, I don't have any employees so I am not going to be making many withdrawals. Anyone have experience with these accounts? Am I missing anything in my evaluation? Thanks so much for your help.