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woodworkingdirect · ‎08-15-2006

G'day. For those of you who have been using Bizsmart's no-fee business banking, prepare to give it up at the end of November. They're closing shop. Bizsmart is owned by CIBC and they likely think that we will all just open new accounts with CIBC. I am surfing the net trying to figure out which bank has the best combination of service and fees (although good service is hard to come by these days). I'm hoping that some of my fellow powersellers could post their favourite bank options and also those to stay away from. Personally, I may consider making the switch to a credit union. Thanks for your interest in this topic. Cheers, JR

recped · ‎08-15-2006

I may consider making the switch to a credit union.

Why "consider" just do it, few small enterprises need the services the big 5 can provide (assuming you have enough money that they would even consider you worthy).

That being said, I'm with Scotiabank but probably for no other reason than I've been there for 20+ years after some serious mistreatment by CIBC.

"What else could I do? I had no trade so I became a peddler" - Lazarus Greenberg 1915

"What else could I do? I had no trade so I became a peddler" - Lazarus Greenberg 1915
- answering Trolls is voluntary, my policy is not to participate.

jasonsportscards · ‎08-15-2006

actually i left cibc went to presidents choice, no fees no matter what your balance might be, just makes sense, otherwise a credit union maybe just as good

zarzuella · ‎08-16-2006

I moved my personal account to PC too, but unfortunately they do not offer business banking.

Ann

woodworkingdirect · ‎08-16-2006

Yup, we use PC too. I'm tempted to just open another account and make it work somehow....

metaldesignz · ‎08-16-2006

I use PC for personal too... But they too are run by CIBC.
I business bank with Scotia Bank.
I am a member of the REtail Council of Canada (RCC)
So I get special rates for visa and mastercard thru paymentech, and special bank fee rates... I also got a bunch of free stuff like a $150 cheque starter pack...

Scotia Bank has been fine to deal with... no problems!
Shelley

magicpixiedust · ‎08-16-2006

PC Financial Banking (President Choice) no fee banking - unlimited withdrawls and deposits - free cheques 50 at a time - order every 10 days a new batch of cheques if you need to

aa-surplus · ‎08-20-2006

ummm with Credit unions you can not take EMT's is this correct? so cedit unions without EMT's are useless to me have to go with big 5 to get EMT features.

Mark

zarzuella · ‎08-20-2006

I had my last business account with a credit union, and I did not find it any cheaper than the big banks. Personal accounts may be different, but I was surprised at the costs for a business account, which I basically only used for auto deposits from my CC processor.

Ann