Entrepreneurship & Small Business

Non-profit community group bank account

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  • Jun 12th, 2018 3:18 pm
[OP]
Deal Addict
Nov 24, 2004
3392 posts
355 upvotes
Toronto

Non-profit community group bank account

This isn't strictly an entrepreneurship question, but I thought some of you in this forum might be able to help.

I lead a small community group (think arts / culture) that is registered as a non-profit. We have a bank account with TD that I believe is a small-business account. We have very few transactions each year (maybe 10) but are still charged a good amount of money as fees.

Our needs are modest: we need to be able to deposit cheques, withdraw and deposit cash, and send and receive e-transfers. We rarely have more than $1,000-$1,500 in the account at any time.

I would imagine that a bank like Tangerine would have a no-fee account for non-profits but it's really hard to tell from their online info whether this is actually the case.

Does anyone have suggestions?
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