Business banking account and service fees
Understanding business banking fees and charges
The business banking accounts and services we offer come with different features and fees. For example, chequing accounts with a monthly fee include some or all the transactions you make each month.
We also charge fees for certain transactions, depending on the account you have. Services like bank drafts or wire transfers also have service charges that are not directly related to your bank account.
CHEQUING ACCOUNT FEES SAVINGS ACCOUNT FEES US DOLLAR ACCOUNT FEES OTHER SERVICES AND FEES
Business chequing account fees and features
| Fee type and description | Fee details |
|---|---|
| Account fees | |
| Monthly fee | $25 |
| Minimum monthly balance (MMB) to waive monthly fee | $25,000 |
| Transactions | |
| Included in monthly fee | Unlimited |
| Self-serve2 | Unlimited |
| Personal service3 | Unlimited |
| Cheques drawn on account | Unlimited |
| Deposits4 | Unlimited |
| Transfers5 | Unlimited |
| Account Services | |
| Cash and coin | $3,000 |
| Overdraft | $2 |
| Paper statements | Monthly |
| Fee type and description | Fee details |
|---|---|
| Account fees | |
| Monthly fee | $30 |
| Minimum monthly balance (MMB) to waive monthly fee | N/A |
| Transactions | |
| Included in monthly fee | Unlimited |
| Self-serve2 | Unlimited |
| Personal service3 | Unlimited |
| Cheques drawn on account | Unlimited |
| Deposits4 | Unlimited |
| Transfers5 | Unlimited |
| Account Services | |
| Cash and coin | $3,000 |
| Overdraft | $2 |
| Paper statements | Monthly |
| Fee type and description | Fee details |
|---|---|
| Account fees | |
| Monthly fee | $5 |
| Minimum monthly balance (MMB) to waive monthly fee | Not applicable |
| Transactions | |
| Included in monthly fee | 6, plus 1 free cheque with every $500 MMB1 |
| Self-serve2 | $0.85 |
| Personal service3 | $0.85 |
| Cheques drawn on account | $0.85 |
| Deposits4 | $0.85 |
| Transfers5 | Unlimited |
| Account Services | |
| Cash and coin | N/A |
| Overdraft | $2 |
| Paper statements | Monthly |
| Fee type and description | Fee details |
|---|---|
| Account fees | |
| Monthly fee | $9 |
| Minimum monthly balance (MMB) to waive monthly fee | $5,000 |
| Transactions | |
| Included in monthly fee | 5 personal service |
| Self-serve2 | Unlimited |
| Personal service3 | $0.85 |
| Cheques drawn on account | $0.85 |
| Deposits4 | Unlimited |
| Transfers5 | Unlimited |
| Account Services | |
| Cash and coin | $1,000 |
| Overdraft | $2 |
| Paper statements | Monthly: $1 |
| Fee type and description | Fee details |
|---|---|
| Account fees | |
| Monthly fee | $0 (included with Prosper Plus Chequing for business) |
| Minimum monthly balance (MMB) to waive monthly fee | N/A |
| Transactions | |
| Included in monthly fee | 4 Interac e-Transfers®, certified cheques, basic cheque order, official cheques |
| Self-serve2 | Unlimited |
| Personal service3 | Unlimited |
| Cheques drawn on account | Unlimited |
| Deposits4 | Unlimited |
| Transfers5 | Unlimited |
| Account Services | |
| Cash and coin | N/A |
| Overdraft | $5 |
| Paper statements | Monthly: $2.50 |
| Fee type and description | Fee details |
|---|---|
| Account fees | |
| Monthly fee | $0.90 |
| Minimum monthly balance (MMB) to waive transaction fees | $1,000 |
| Transactions | |
| Included in monthly fee | N/A |
| Self-serve2 | $0.50 |
| Personal service3 | $0.55 |
| Cheques drawn on account | $0.60 |
| Deposits4 | Unlimited |
| Transfers5 | Unlimited |
| Account Services | |
| Cash and coin | $1,000 |
| Paper statements | Monthly |
| Returned cheques | Yes - $0.15 / cheque |
| Online and telephone banking | Yes |
Business savings account fees and features
| Fee type and description | Fee details |
|---|---|
| Account fees | |
| Monthly fee | $0 |
| Minimum monthly balance (MMB) to waive transaction fees | $100,000 |
| Transactions | |
| Included | 2 personal service transactions per month |
| Self-serve2 | $5 |
| Personal service3 | $5 |
| Deposits4 | $0.85 |
| Transfers5 | Unlimited |
| Interest | |
| Monthly interest | Flat rate |
| Minimum monthly balance | $5,000 |
| Interest calculation | Closing daily balance, paid monthly |
| Account Services | |
| Paper statements | Quarterly |
| Returned cheques | N/A |
| Online and telephone banking | Yes |
| Monthly activation fee | $0 |
| Fee type and description | Fee details |
|---|---|
| Account fees | |
| Monthly fee | $0 |
| Minimum monthly balance (MMB) to waive transaction fees | N/A |
| Transactions | |
| Included | N/A |
| Self-serve2 | N/A |
| Personal service3 | N/A |
| Deposits4 | N/A |
| Transfers5 | Unlimited |
| Interest | |
| Monthly interest | Tiered |
| Minimum monthly balance | $0 |
| Interest calculation | Closing daily balance, paid monthly |
| Account Services | |
| Paper statements | Monthly: online only |
| Online and telephone banking | Online only |
| Monthly activation fee | $0 |
US Dollar⁶ Account fees and features
| Fee type and description | Fee details |
|---|---|
| Account fees | |
| Monthly fee | $5 |
| Minimum monthly balance (MMB) to waive transaction fees | N/A |
| Transactions | |
| Included | N/A |
| Self-serve2 | N/A |
| Personal service3 | $0.85 |
| Cheques (drawn on account) | N/A |
| Deposits4 | $0.85 |
| Transfers5 | Unlimited |
| Interest | |
| Monthly interest | Tiered |
| Minimum monthly balance | $0 |
| Interest calculation | Closing daily balance, paid monthly |
| Account Services | |
| Paper statements | Monthly |
| Returned cheques | Yes |
| Online and telephone banking | Yes |
| Monthly activation fee | $0 |
| Fee type and description | Fee details |
|---|---|
| Account fees | |
| Monthly fee | $0 |
| Minimum monthly balance (MMB) to waive transaction fees | N/A |
| Transactions | |
| Included | N/A |
| Self-serve2 | N/A |
| Personal service3 | N/A |
| Deposits4 | N/A |
| Transfers5 | Unlimited |
| Interest | |
| Monthly interest | Tiered |
| Minimum monthly balance | $0 |
| Interest calculation | Closing daily balance, paid monthly |
| Account Services | |
| Paper statements | Online only |
| Online and telephone banking | Online only |
| Monthly activation fee | $0 |
Other banking service and fees
| Fee type and description | Fee details |
|---|---|
| Interac e-Transfers® | $1.50 |
| Interac e-Transfers® requests | $1.50 |
| Interac® ATM transactions* | $2 |
| Cirrus® (US)* | $3 |
| Cirrus® (International)* | $5 |
| Fee type and description | Fee details |
|---|---|
| Bank draft (CAD) | $10 |
| Bank draft (USD, foreign) | $10 |
| Foreign currency cheque | $15 |
| Certified cheque | $10 |
| Charge back | $7 |
| Cheques sent on collection | $20 |
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Non-sufficient funds (NSF)
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Honoured NSF
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$5 + overdraft interest
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Stop payment
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| Overdraft interest rate | 21% per annum** |
| Fee type and description | Fee details |
|---|---|
| Cash and coin | $2.25 per $1,000 |
| Fee type and description | Fee details |
|---|---|
| Audit/bank confirmations | $22.60 |
| Credit rating to other Financial Institution | $11.30 |
| Search of bank records | $30/hour (min. $15) |
| Fee type and description | Fee details | ||
|---|---|---|---|
| Incoming wires | $17.50 | ||
| Outgoing wire amount8 | Online fee | Business Banking Centre fee (non CAD/non USD) | Business Banking Centre fee (CAD/USD) and branch fee |
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| Fee type and description | Fee details |
|---|---|
| Night deposit bag | $45 + HST ($30 for additional bag) |