Canadian Western Bank (CWB) Flex Notice Account

Amount:

$100,000 minimum balance required

Type:

Savings

Description:

The Flex Notice Account from Canadian Western Bank offers a high-earning flexible investment option, allowing business owners to maximize returns on their surplus funds.

Comments on Funding:

This account offers the following features, and inclusions:
– Monthly fee: $0.00;
– Rate: 93-day Flex Notice (Talk to your local banking centre for tiered interest rate details).

Product Inclusions:
– Unlimited deposits: Unlimited, no fee withdrawals or deposits;
– Minimum balance: $100,000 minimum balance required;
– Earn premium interest: Maximize your funds with tiered interest rates;
– Two coins: Available in USD or CAD funds.

Deadline:

Continuous Intake

Eligibility:

Businesses seeking to grow deposits over $100,000.

Application Steps:

Connect with the Relationship Manager using the bank’s online contact form.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

1. All funds requested by a withdrawal notice will automatically be withdrawn within 5 calendar days following the expiry of the notice period. Multiple transactions can be performed during this time. Full or partial withdrawals from the Flex Notice Account are permitted. Additional terms and conditions apply.
2. Withdrawal notice must include the amount requested and a payment direction. Upon completion of the Notice Period, CWB will withdraw the funds requested within five (5) calendar days (the “Availability Period”) and transmit them in accordance with the payment instructions provided in the Withdrawal Notice (the “Payment Direction”)
3. The interest rate is tied to CWB CAD Prime Rate, and will fluctuate accordingly with that benchmark. Interest is calculated daily and paid monthly. CWB CAD Prime Rate is the variable annual interest rate published by us from time to time and is the interest rate we will use as a reference to determine (1) the variable interest rate that we will charge for loans provided by us in Canadian dollars in Canada and (2) the variable interest rate paid on certain guaranteed investment certificates.

Maurice

About the author

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Canada to identify and maximize funding to grow their business.

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