Adventure in Businessland Part 2 - Not So Easy Business Banking

 Now that I've sent all my documents and am anxiously waiting to get the reply back from the Quebec Revenue Agency about my project of starting my own company, I've started looking at the small business banking plans offered by various financial institutions; always keeping in mind that I want to be able to bank anywhere in Canada.

Here are the major banks' offerings, and let me tell you that none of them make it really simple.

RBC: Not interested in doing business with them. They let me down when they were my employer, so fuck 'em.

Laurentian Bank: They are not really all around the country, so better to forget about them.

Desjardins: Now, I mentioned a bank, not a joke!

CIBC: Not so bad; pay as you go transactions, but with a $8 monthly fee just to have the account with them. Could be worst though.

TD: Charging me for all deposits... banks are a service, companies who want to make money,... but on deposits? Now that's a theft.

Scotia Bank: Several interesting features, but may come in expensive at one point.

BMO: Wayyy too many options.

National Bank: $25 to open the account?? and minimum monthly fee of $7.50. The fee to open the account is a major drawback.

So in the end, I have 2 choices left: BMO (surprised, aren't you?) and CIBC.

So I guess I'll have to make a more detailed comparison between the two, as I will be stuck with the same financial institution for a long time...

Tags:   None

© All rights reserved.

Posted 29 days ago ( Permanent Link )
Read 7 Times
 Send to Friend