Personal Finance

TD vs RBC business account

  • Last Updated:
  • Jun 15th, 2019 4:08 pm
Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON

TD vs RBC business account

So I need a business account because the place paying me is now paying me through an LLC. So I was doing some research and only RBC has a no fee business account, but I do 99% of my personal banking with TD so just wondering what the thoughts are with which ones better.
11 replies
Member
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Jan 7, 2019
368 posts
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The no fee account is going to end soon so keep that in your considerations.
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Deal Addict
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Mar 23, 2009
1110 posts
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Toronto
Bmo has a free one... I switched from rbc because it won't be free any longer in a couple months
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May 8, 2009
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Going to the Moon
OP you're in Hamilton...not far from GTA. Consider DUCA (credit union). They offer no-fee business account and they're brick and mortar. If it's just to get a business account for direct deposits, that's probably your best bet. Also, you can use the debit card at The Exchange ATM's anywhere in Canada.
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Jul 4, 2004
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titaniumtux wrote: OP you're in Hamilton...not far from GTA. Consider DUCA (credit union). They offer no-fee business account and they're brick and mortar. If it's just to get a business account for direct deposits, that's probably your best bet. Also, you can use the debit card at The Exchange ATM's anywhere in Canada.
Didn't realize that DUCA offered business accounts and no fee ones at that. I really liked the RBC eBusiness account, however not enough to justify the new monthly fee effective June 1st.

For anyone in Whitby, there is a DUCA branch just at the border between Oshawa and Whitby.
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Deal Fanatic
Aug 21, 2007
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Markham
Was also going to suggest DUCA
Jr. Member
Feb 24, 2017
107 posts
79 upvotes
I keep my business account with TD. It’s very convenient transferring between accounts.
Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON
titaniumtux wrote: OP you're in Hamilton...not far from GTA. Consider DUCA (credit union). They offer no-fee business account and they're brick and mortar. If it's just to get a business account for direct deposits, that's probably your best bet. Also, you can use the debit card at The Exchange ATM's anywhere in Canada.
Is there online banking good though? can I pay bills and stuff?

Also how much is the RBC account fee going up too?
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May 8, 2009
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bruenor9 wrote: Is there online banking good though? can I pay bills and stuff?

Also how much is the RBC account fee going up too?
No idea about RBC.

For DUCA, I find their online banking in browser to look like other credit unions. Fairly straightforward and easy to use. The mobile app is trash unless doing mobile cheque deposit. I've only experimented with consumer membership, never tried a business account with them yet.
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Mar 23, 2009
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Rbc is going up to $5 or $6 per month and including etransfers.
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Aug 21, 2007
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astroboy100 wrote: Rbc is going up to $5 or $6 per month and including etransfers.
$6 i believe
Member
Mar 28, 2015
429 posts
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Rural AB
RBC ebusiness account is now $5 pm
Not too bad considering it’s a tax write off
plus they added a few more inclusive items that were previously chargeable on the ‘free’ account so I opened one yesterday for a brand new business and I was also pre approved for a fee free business credit card

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