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 MEMBERLINK® Telephone Banking and FREE MemberDirect® Online Banking

Our Business Accounts are:

Featured On All Accounts

  • FREE auto deposits
  • monthly paper and e-Statements
  • one FREE bank confirmation per year
  • FREE Night deposit services
  • FREE MEMBERLINK telephone banking, MemberDirect online banking
  • cheque orders available (at additional cost)

Business Transactions Include

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

Financial Service Charges

  • Interac® e-Transfers $1.00
  • funds to transfer overdraft 7.00
  • chargeback 6.00
  • overdraft charge 5.00
  • NSF 45.00
  • unauthorized overdraft 26.00%
  • stop payment 15.00
  • official cheque 7.00
  • replacement MEMBER CARD® Debit Card/MasterCard 5.00
  • commercial foreign draft (US FUNDS) 10.00
  • EFT/ wire transfer – Member (+Centtral1 Charges) starts at 21.50
  • security registration fee 75.00
  • cheque order – cost
  • vehicle search 25.00
  • search records up to 90 days FREE, over 90 days $30/hr
  • duplicate statement 2.50
  • travelers cheques regular 1.00%
  • bank confirmation 30.00
  • residential mortgage discharge 75.00
  • commercial mortgage discharge 125.00
  • registration of certificate of title 125.00
  • loan payment late charge (after 7 days) 25.00

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.

 

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