Commercial Accounts

*If monthly transactions exceed the numbered included in the fee plan, those additional transactions will be charged at the posted rates. All other transactions are charged at the posted rates.

Simple, effective money management account designed for independent businesses. Not quite what your business needs? Contact us and we will design an account for your business!

FREE MemberDirect® Online Banking

Our Business Accounts are:

Featured On All Accounts

  • FREE auto deposits
  • FREE e-Statements
  • FREE Night deposit key and bags
  • FREE MemberDirect online banking

*Business Transactions Included

  • cheques
  • in-branch withdrawals/transfers
  • Point of Sale debits
  • EKC and other Canadian Credit Union ATM withdrawals
  • e-Transfers
  • deposits in-branch/mail/night deposit
  • online/telephone/mobile banking transactions
  • pre-authorized withdrawals

**Electronic Transactions Included

  • EKC ATM
  • other Canadian C.U. ATMs
  • direct payment (POS)
  • auto debits
  • transfers (ATM and MemberDirect)

Other Charges

  • chargeback $ 10.00
  • cheque cashing - non-member cashing cheques drawn on EKC $5.00
  • cheque drawn on CDN account in U.S. funds $15.00
  • cheque received/sent on collection (min. $500) $50.00
  • counter cheques (10) $5.00
  • closed account under 90 Days $25.00
  • foreign exchange (min. order $50): if transaction is less than $250 Canadian equivalent Member $15.00; transactions greater than or equal to $250 FREE
  • MEMBER CARD® Debit Card/MasterCard/Visa replacement $5.00
  • night deposit bags FREE
  • NSF (cheque or auto debits) $45.00
  • official cheques $10.00
  • overdraft charge $5.00
  • overdraft notice $5.00
  • paper statement fee business/non-profit (per membership per month) $3.50
  • redirect auto debits & credits/cheque $10.00
  • search records up to 90 Days FREE / over 90 days – per hour $50.00
  • stop payment $15.00
  • trace $25.00
  • TFSA/RESP/RRSP/RRIF/LIF transfer out T2033: other Credit Union FREE / non Credit Union $100.00
  • transfer to cover overdraft electronic FREE / manual $10.00
  • unqualified clearing item $15.00
  • U.S. bank drafts ($ U.S.) $15.00
  • wire transfer (+ Central1 charges) domestic $25.00 / international $35.00 *fees are in the currency being sent
  • automated fund transfers: set up fee (one time) $175.00 / additional originator (one time) $60.00 / automatic file upload (per month) $50.00 / manual file upload (per) $24.50
  • bank confirmation $30.00
  • cheque order $cost
  • commercial loan application $negotiable
  • commercial mortgage discharge $250.00

Dormant Accounts

What happens when my account is inactive?
Your account is considered dormant if you haven’t accessed it after a 12-month period. If your account has a value of $5 or greater, we will mail you a notice advising you to initiate account activity. If after 45 days you have not activated your account, we will close it and hold the funds separately and securely until you contact us.

If you don’t respond to the first notice, we will attempt two more contacts over a ten-year period. If you still haven’t come forth after 10 years, the funds are either transferred to the Unclaimed Property Society ($100 or more) or retained in a general holding account at EKC (under $100).

A $25 (effective January 1, 2015) Annual Dormant Account Fee will be deducted from the account value.

Why does EKC send the money to the Unclaimed Property Society?
This is a requirement for credit unions pursuant to the Unclaimed Property Act (British Columbia). The Unclaimed Property Society has access to more resources than EKC does and it will make further efforts to contact members to reunite them with their monies, especially in cases where we do not have current contact information.

How do I claim my funds and/or reactivate my account?
You can claim your funds or reactivate a dormant account at any time prior to the account balance remittance to the Unclaimed Property Society. Even if the funds have been transferred, we are happy to open a new EKC account for you. Contact your branch for assistance.