RBC Small Business eAccount = $5/mo. June 1, 2019 - Alternatives?
So I am on the hunt for alternatives. Figured I'd start a thread. My concerns are: 1) cost per cheque mobile deposited, 2) cost per cheque debited, and 3) can I transfer the funds out for free, in large amounts and with no hold period, either to a no-fee personal account at the same branch, or I suppose if you're a sole proprietor (I'm not) you could setup a PAD to your personal account elsewhere.
Here's what I've looked at so far:
BMO eBusiness Plan
https://www.bmo.com/main/business/accou ... ness-plan/
$0.20/cheque deposited. $1.25/cheque debited. 2 free Interac. I assume free transfer to your personal BMO account but they don't have any free personal chequing accounts [EDIT: See BMO Sobey's option below]. EFT service (e.g. Pay Vendors and Employees) is an add-on they won't tell me the price of unless I make an appointment so I imagine $$.
DUCA Start Me Up Account (Ontario only)
https://www.duca.com/business/accounts/ ... s-account/
EDIT: No fee on mobile or ATM cheque deposit. Looks like $0.75/cheque debited. Unlimited free Interac. Free transfers to personal DUCA accounts which can be no-fee. EFT/CAFT is an add-on.
FirstOntario $0 fee eBanking Account (Ontario only?)
https://www.firstontario.com/business/b ... g-accounts
Looks promising if you're in the Hamilton/Oakville/Burlington area but few details online.
I am in Ontario so haven't looked much at other provinces' credit unions but it looks like VanCity probably has some good options if you're in BC.
Curious to hear what others plan to do or what other options might be out there. Meridian, Alterna, MemberOne/Tandia, Servus, ATB all charge monthly minimum.