Island Savings

Business Service Fee Guide

At Island Savings, we like to make things simple for our business members—so here is a handy list that you can reference for account related service fees.

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As of Dec. 1, 2018, we've made some changes to the products and services we offer. Learn more about how these changes impact you.



 

Member Service Fees

Account Related Fees


Account closing (within 90 days)
Bank confirmation—standard
Bank confirmation—comprehensive
Chargebacks (deposit NSF cheque)
One-time fee after 18 months of inactivity
Inactive account (per month after 18 months)
Non-sufficient funds (NSF) cheque
Office cheque / Bank Draft (for member)
Office cheque / Bank Draft (for non-member)
Counter cheques-encoded (sheet of 2)
Order cheques (see branch for styles)
Order duplicate printed statement (per stmt)
In-branch statement printout
Stop payment (in-branch & electronic)
Un-encoded cheque
Foreign currency/cheque ATM deposit
Cheque written in U.S. funds on Canadian acct
Telephone request to transfer funds between Island Savings accounts
$25.00
$30.00*
$50.00/hr*
$6.00
$42.50
$2.50
$45.00
$8.00
$20.00
$1.00*
Variable
$50.00
$5.00
$13.00
$10.00
$5.00
$10.00
$5.00

Automatic Funds Transfer (AFT)


New AFT service set up fee
Manual file transmission (cost per release)
Automatic transmission (cost per month)
$200.00
$10.00
$50.00

Wire Transfers


Wire transfer incoming (CAD)
Wire transfer incoming (USD)
Wire transfer Credit Union to Credit Union
Wire transfer outgoing (CAD)
Wire transfer outgoing (USD)
Wire transfer outgoing - international
$12.00
$14.50
$22.00
$25.00
$25.00
$25.00

Loan & Mortgage Fees

Loan Application Fees


Application ($100.00 min)
Standby fee ($100.00 min)
Letter of credit & undertaking—domestic (min $100.00/letter)
1.00%
Variable
Variable

Late Filing Fees


Monthly information requirement (i.e. accounts receivable & payable statements) per occurrence over 45 days late
$50.00
Year-end information requirement per occurrence over 60 days late ($250.00 per month thereafter)
$150.00

LOC / Overdraft / Approved (including excess)


System generated fee per txn for excess LOC/OD
Manual transfer from another account to cover overdraft
$5.00
$5.00

Mortgage Fees


Mortgage discharge (prepared by lawyer)
Mortgage discharge (prepared by us)
Mortgage renewal (minimum cost)
Progress draw—or as negotiated, per advance (includes search fees)
$200.00
$250.00
$125.00
$150.00

Other Fees


Annual review—loan & LOC ($50 min)
LOC margining admin fee ($100 min)/month
0.10%
0.10%

Everything Else

Miscellaneous


Credit reference request
Letters (minimum)
$30.00
$30.00*

BizSimple™ Cheque Deposit


Monthly fee per scanner
Setup fee
Per additional unlisted transit
Add additional account
Remove account
Remove unlisted transit
$35.00
$90.00**
$90.00
$20.00
$5.00
$30.00

**includes 1 unlisted transit and up to 10 accounts

Night Deposits


Per 100 bags
Lost Key Replacement
$30.00*
$15.00*

Safe Deposit Boxes


1.5" x 4.5" (price/year—excluding taxes)
1.5" x 5" (price/year—excluding taxes)
2.5" x 5" (price/year—excluding taxes)
4" x 5" (price/year—excluding taxes)
5" x 5" (price/year—excluding taxes)
2.5" x 10" (price/year—excluding taxes)
5" x 10" (price/year—excluding taxes)
Replacement key
Drilling box
$50.00*
$50.00*
$60.00*
$70.00*
$100.00*
$100.00*
$150.00*
$20.00*
$200.00*

 

*applicable taxes may apply to some services.