# Cheapest Canadian Bank for Wire Transfer?



## Fain87 (Jan 20, 2018)

Anyone have a recommendation on a cheap Canadian Business Bank Account for wire transfer fees? Currently TD Canada Trust charges my firm $80 when we wire funds out over $50,000.00.

Please only recommendations.

Thanks!


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## Mukhang pera (Feb 26, 2016)

Not sure where you are, but in lower mainland of BC you can join Vancity CU. Their wire fees for business wires is $20, going to $35 next month. Vancity has charged $20 for many years. I always use Vancity. I have never sent a wire for less than $50,000 and usually over $100,000 and the rate has still been 20 bucks. $80 sounds usurious.

See: https://www.vancity.com/Legal/Business/ServiceChargeBulletin/


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## ian (Jun 18, 2016)

EQbank (on line bank) sent me a ditto a few weeks ago about inexpensive wire transfers. As I recall the max. per transfer was only $9500. Not sure if they have business accounts.


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## Fain87 (Jan 20, 2018)

Mukhang pera said:


> Not sure where you are, but in lower mainland of BC you can join Vancity CU. Their wire fees for business wires is $20, going to $35 next month. Vancity has charged $20 for many years. I always use Vancity. I have never sent a wire for less than $50,000 and usually over $100,000 and the rate has still been 20 bucks. $80 sounds usurious.
> 
> See: https://www.vancity.com/Legal/Business/ServiceChargeBulletin/


We are based in Toronto. . .We are sending about 7-10 wires a month, to either pay for Private Placement shares, or pay vendors so definately want to reduce those fees.


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## Fain87 (Jan 20, 2018)

ian said:


> EQbank (on line bank) sent me a ditto a few weeks ago about inexpensive wire transfers. As I recall the max. per transfer was only $9500. Not sure if they have business accounts.


I got them for a personal account. No business accounts though.


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## Money172375 (Jun 29, 2018)

Fain87 said:


> We are based in Toronto. . .We are sending about 7-10 wires a month, to either pay for Private Placement shares, or pay vendors so definately want to reduce those fees.


Are you dealing with TD Commercial Banking at all? Are you sending cdn dollars or foreign dollars? I’d ask to speak to someone in Cash Management at TD Commercial Banking. you Might get a better deal if you’re wiring half a mil each month.
Disclosure: former td employee


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