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US DOLLAR BUSINESS CHEQUING ACCOUNT



THIS ACCOUNT IS FOR YOU IF: 

 

    You write cheques in US dollars.

    You want to earn interest in US dollars.

    You have better things to do than worry about the exchange rate.

 

 

$5 USD

Monthly Account Fee

 

 

 

FREE

Business Deposits

 

IT'S EASY TO APPLY!

Contact us to open a new US Dollar Business account — our approval process is quick and simple.

US DOLLAR CHEQUING

 

KEY FEATURES & BENEFITS:

 

  • FREE deposits
  • FREE in-branch and electronic transfers
  • FREE monthly eStatement including cheque images
  • Rest easy knowing that your deposits are 100% guaranteed†
  • Plus, you can access and manage your business accounts 24/7 with our Business Online Banking services.

 

FEES

Monthly Fee
$5 USD
Interest
Tiered interest rate based on the portion of the balance within each tier*
Additional
Transaction
Fees

In-branch withdrawal $1.00 

Pre-authorized payment  $1.00

Cheque clearing  $1.00

Send Me-to-Me Transfer  $1.00

  View our service fee guide

*The interest rate is subject to change without notice. Interest is expressed as an annual rate and calculated in US dollars on the applicable portion of the closing daily balance in the account and paid at month end. Transaction fees are charged in US dollars.

Bill payments, ATM transactions and Interac® transactions are not available.


†The Credit Union Deposit Insurance Corporation of British Columbia, a statutory corporation, fully guarantees all BC credit union deposits. Credit Union equity shares and investments such as mutual funds or RSP equity plans are not covered by deposit insurance.

From November 1, 2021, to November 21, 2021, the members of First West Credit Union voted on special resolutions that, among other things, authorize First West to apply to become a federal credit union under the Bank Act. If First West becomes a federal credit union, it will automatically become a member of the Canada Deposit Insurance Corporation (CDIC) and Credit Union Deposit Insurance Corporation of British Columbia deposit insurance will no longer apply. See attached Notice for further detail on what this change means to your deposits with First West.

EXPERT ADVICE AT EVERY STEP

Whether your business is just starting out or reaching new levels of success, Island Savings has the right advice to help you reach your goals. Contact one of our business banking experts today.