Banks where to go........

[darlingqueen]

Okay I have HAD IT with TD Canada Trust!!!!!!

$343.00 alone for the month of August just in service charges!! RIDICULOUS!!!!!!!!!!!!!!!!!!!!!!!!!

Try getting someone to talk to at the branch. ha it's like pulling teeth!!!!

Seriouslly anyone got any better banks they deal with for a small business...?

Thanks

[wheel]

I'm happy with Scotiabank, but I suspect you're going to take it where the sun doesn't shine no matter what bank you're dealing with.

[antman59]

Good Thread. Best for me has been PC and ING Direct...Depending on what you need it might not be enough. Friend of mine is looking to set up a business account any sugestions?

[noodles]

I use CIBC but only deposit once a month and write 2 or 3 cheques per month. Costs me $11 I think.


It all depends on what you need and how often you're making withdrawls and deposits.

[cdnNick]

Last time I checked PC doesn't offer business accounts.

I'm happy with scotiabank, but I would be a light banker. Most of my transactions are through credit card payment and paypal so I don't have tons of transactions in and out of my account.

[lh0628]

A bit OT but couldn't one get a personal account for the business and just run all business-related transactions using that account and nothing else? And then just have your company write checks to yourself?

As long as you keep good records of everything that is.

[cdnNick]

A bit OT but couldn't one get a personal account for the business and just run all business-related transactions using that account and nothing else? And then just have your company write checks to yourself?

As long as you keep good records of everything that is.

Depends what you need to do with it, my merchant account required a business banking account so I had to have one for that. There are many other reasons but that's just one of them.

[noodles]

"Your company" can't write checques without a business account. They would be personal cheques.

[Just Confused]

I use BMO for my business account. $9.50 a month. But like noodles, I'm light on transactions. I only do 4 or 5 deposits and about the same number of cheques a month. I use cash or my personal credit cards for business expenses and generate an expense account claim against my business account withdrawals.

[peterfl]

I just applied for this account today. $5/month plus $0.8/transaction. very good choice for a starter

[HammerRFDer]

Don't forget about looking at credit unions. Since many of them have a poor online presence, their face-to-face presence can often be better than the bank's, which sounds like something you might prefer :)

[Think]

I miss Bizmart >:(

[montrealboys]

Hi all,

long time lurker first time poster. its a great forum I love the advice that's on here especially on the finance issues the credit card list e.c.t. I will start to contribute my self.

Now a question I'm looking for a bank for my new business. for my personal account I use TD but I would not like to have them for my business account for varies reasons.

I'm looking for a bank thats not very expensive and I could develop a relationship with a banker, have some one to talk to in case you need them.

how easy (difficult) is it to get a line of credit (or over draft protection) for a new business account?

am I better off by a bank where they know me trough my personal accounts or it won't help. I'm thinking between BMO and Scotia bank. can any one tell me their experience with them?

Thank you,