Entrepreneurship & Small Business

need to issue payments to 20+ subcontractors each month, is there any business checking account offering free e-transfer

  • Last Updated:
  • Mar 11th, 2022 7:27 am
Newbie
Jan 20, 2007
99 posts
53 upvotes
Mississauga

need to issue payments to 20+ subcontractors each month, is there any business checking account offering free e-transfer

need to issue payments to 20+ subcontractors each month, is there any business checking account offering free e-transfer
3 replies
Deal Fanatic
Aug 21, 2007
6055 posts
853 upvotes
Markham
you may want to look into a PAD type option that will automatically withdraw and pay...not sure what it costs...rotessa is an option that is relatively more affordable at $36/month for 11-50 transactions...with big banks i feel like you typically need commercial banking to get this type of functionality.

i suppose free etransfers could work too but that could get tedious and also make your accounting difficult...as far as I know you can't do 20 e-transfers at one time...unlike paying bills where you can select the relevant payee and do all at same time I believe
Sr. Member
Jul 31, 2017
510 posts
640 upvotes
Toronto
We use Plooto. It's not free but it's only a $1 per transfer vs $1.50 interac. They changed it last year so you have to pay minimum each month but if you're doing 20 a month you'll save over E-Transfer. There are no limits to monthly transactions either

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