Author Topic: Best Business Account in Canada?  (Read 1501 times)

Le0

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Best Business Account in Canada?
« on: February 23, 2015, 09:16:08 AM »
I am looking to make my business a little more official. I can also apply to a few grants, but having a separate account for the business is a requirement. I have already gotten out of personal bank fees because I keep a minimum amount in the account.

But what is the best account for business? I am tempted to just us PC.

scrubbyfish

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Re: Best Business Account in Canada?
« Reply #1 on: February 23, 2015, 10:31:08 AM »
Variables specific to your business will factor in: how many transactions per month, what type, etc.

If you will be receiving USD money through PayPal, RBC seems to be the best option last I checked (about two years ago). For some reason, this is the only Canadian bank that can skip an extra conversion that PayPal will otherwise impose.

I recently moved to TD, and am unhappy with it -too many errors on their part.

Prairie Gal

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Re: Best Business Account in Canada?
« Reply #2 on: February 23, 2015, 07:54:58 PM »
I use PC Financial for my business transactions, which are very limited. It really helps with the bookkeeping at year end to have the business transactions all in one separate account.

Le0

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Re: Best Business Account in Canada?
« Reply #3 on: February 24, 2015, 10:35:02 AM »
Interesting information about RBC. I'm not sure how many transactions I am looking at to be honest. Right now I receive at least 2 a month. I imagine that will go up once I move into the business full time.

I will also have to check the place I am getting a grant from, maybe they require a specific kind of account, but otherwise I am looking a PC because there are no fees.