Scotiabank Select Account for Business Plan B
Chequing
Description:
The Select Account for Business Plan B from Scotiabank is a business account with plan options designed to accommodate transaction needs. Businesses can benefit from a waived monthly plan fee by maintaining a minimum balance every day of the month, providing a convenient and cost-effective solution.
Comments on Funding:
This account offers the following features and fees:
– Monthly Plan Fee: $40 (No monthly plan fee if you maintain minimum balance every day of the month);
– Monthly Plan Fee Rebate with Minimum Balance: $35,000;
– Transactions: 70;
– Deposit Items: 60;
– Cash Deposits: $8,000;
– Additional Transaction Fee: $1.50;
– Additional Items deposit fee: $0.25;
– Additional Cash Deposit Fee (For every $1,000): $2.50.
Continuous Intake
Eligibility:
Applicants must be businesses, including a sole proprietorship, a partnership, a corporation or a non-profit organization or association.
Application Steps:
1. Prospective applicants are required to apply online or visit a branch, seeking assistance from their local Small Business Advisor.
2. Individuals wishing to open an account as new customers must meet the following conditions:
a) Must be at least 16 years old,
b) Should be a Canadian resident or present for work or study purposes,
c) Intending to open an account in their own name,
d) Willing to opt for paperless document delivery.
3. For non-Canadians lacking work or study permits or those categorized as non-residents, the process involves collaboration with a branch representative to facilitate the account-opening procedure.
Documentation Needed:
Specific documentations must be provided based on the type of business structure.
Other Things to Note:
About the author
Maurice
