Skip to main content
transparent-marquee.png

BUSINESS ACCOUNT & SERVICE FEES


All fees listed below apply to our business and commercial chequing or savings accounts and are listed in Canadian currency unless otherwise indicated. Personal account and service fees can be found here.

Select the category below to view specific fees, or continue to view all fees.

Monthly Account Fees

Our business banking solutions are designed to help you manage your cash flow quickly and easily. Select the account below to see the number and the type of transactions included in the monthly fee.

$6 Monthly Fee

NOTE: $7 monthly fee as of June 1, 2024

FREE monthly eStatement available in online banking

Included Transactions

Any transactions beyond those included in our monthly package will incur a fee.

  • unlimited electronic bill payments
  • unlimited electronic transfers between your Island Savings accounts
$36 Monthly Fee

NOTE: $39 monthly fee as of June 1, 2024

FREE monthly eStatement available in online banking

Included Transactions

Any transactions beyond those included in our monthly package will incur a fee.

  • unlimited cheque clearing
  • unlimited electronic & in-branch bill payments
  • unlimited branch withdrawals
  • unlimited pre-authorized payments
  • unlimited Interac® direct payments
  • unlimited electronic transfers between your Island Savings accounts
  • unlimited THE EXCHANGE® & ACCULINK® ATM withdrawals
$6 USD Monthly Fee

FREE monthly eStatement available in online banking

Included Transactions

Any transactions beyond those included in our monthly package will incur a fee.

  • unlimited in-branch and electronic transfers between your Island Savings accounts.
$0 Monthly Fee

FREE monthly eStatement available in online banking

Included Transactions
Any transactions beyond those included in our monthly package will incur a fee.

2 FREE transactions per month including:

  • in-branch withdrawals
  • in-branch transfers
  • in-branch and electronic bill payment
  • Interac® direct payments
  • pre-authorized payments
  • THE EXCHANGE® & ACCULINK® ATM withdrawals

Plus, unlimited electronic transfers between your Island Savings accounts.

$0 Monthly Fee

FREE monthly eStatement available in online banking

Included Transactions
Any transactions beyond those included in our monthly package will incur a fee.

1 FREE transaction per month including:

  • in-branch withdrawals
  • in-branch transfers
  • in-branch and electronic bill payment
  • Interac® direct payments
  • pre-authorized payments
  • THE EXCHANGE® & ACCULINK® ATM withdrawals

Plus, unlimited electronic transfers between your Island Savings accounts.

$0 Monthly Fee

FREE monthly eStatement available in online banking

Included Transactions
Any transactions beyond those included in our monthly package will incur a fee.

25 FREE transactions per month including:

  • cheque clearing
  • pre-authorized payments
  • Interac® direct payments
  • THE EXCHANGE® & ACCULINK® ATM withdrawals

PLUS, unlimited electronic bill payments and electronic transfers between your Island Savings accounts.

$0 Monthly Fee

FREE monthly eStatement available in online banking

Included Transactions
Any transactions beyond those included in our monthly package will incur a fee.
  • 1 FREE withdrawal per month


Transactions beyond the monthly package limit will incur a fee and are disclosed here:

Transaction Fee (in CAD unless otherwise indicated)
(*fees will be charged in $USD on US Dollar chequing accounts)
Cheque clearing Chequing*: $1.25
Savings: $1.25
High Interest Savings: $5
In-branch withdrawal Chequing*: $1.25
Savings: $1.25
High Interest Savings: $5
In-branch transfer out Chequing*: $1.25
Savings: $1.25
High Interest Savings: $5
In-branch utility bill payment / manual bill payment Chequing: $2
Savings: $2
High Interest Savings: $5
In-branch deposit Free
Electronic transfer between Island Savings accounts Free
Electronic utility bill Chequing: Free
Savings: $1.25
High Interest Savings: $5
Cheque deposit via mobile app Free
Interac e-Transfer® incoming (CAD currency only) Free
Interac e-Transfer® Autodeposit (CAD currency only) Free
Interac e-Transfer® outgoing (CAD currency only) Chequing: $1.25
Savings: $1.25
High Interest Savings: $5
Interac e-Transfer® Request Money Chequing: $1.25
Savings: $1.25
High Interest Savings: $5
Point of sale purchase Chequing: $1.25
Savings: $1.25
High Interest Savings: $5
Point of sale return Free
Business-to-Business transfer incoming Free
Business-to-Business transfer outgoing Chequing: $1.25
Savings: $1.25
High Interest Savings: $5
Pre-authorized debit (payment) Chequing*: $1.25
Savings: $1.25
High Interest Savings: $5
Pre-authorized credit Free
THE EXCHANGE® and ACCULINK® ATM withdrawal Chequing: $1.25
Savings: $1.25
High Interest Savings: $5
THE EXCHANGE® and ACCULINK® ATM deposit Free
Interac® ATM withdrawal Chequing: $2.50
Savings: $2.50
High Interest Savings: $6
International (including US) Cirrus® ATM Withdrawal** Chequing: $5
Savings: $5
High Interest Savings: $7

*fees will be charged in $USD on US Dollar chequing accounts

**In addition to the applicable service charges, you may be charged applicable fees (including commissions) by third parties and we may charge and earn commissions and revenue based on the difference between the applicable bid and ask rates for the currency and the rate at which the rate is offset in the market.



Banking Services Fees

Item Fee (CAD unless otherwise indicated)
Personalized ATM card $5 plus GST
Bank confirmation Standard: $30 plus GST
Comprehensive: $50/hour plus GST ($50 minimum)
Chargeback $8 per item
Cheques printed in branch $2 plus GST per sheet (excluding new account opening at $0.50/cheque plus GST)
Ordering cheques Cost varies
The price of personalized cheques is set by an authorized third party and ranges in price, depending on several factors, such as the colour, style, customizations and other add-ons selected by you. Contact us at 1-888-597-6083 for a quote.
Cheque retrieval/record search $3 per item
Comprehensive search (not available in branch): $50/hour plus GST ($25 minimum)
Cheque received for collection $30
Cheque held for collection $20
Coverdraft $5
Dormant Accounts (If account deemed inactive prior to October 19, 2023)
Charged after 2 years of inactivity: $2.50/month
(If account deemed inactive after October 19, 2023)
Charged after 5 years of inactivity: $2.50/month
One-time admin fee charged after 5 years of inactivity: $42.50
Foreign currency/cheque ATM Deposit Foreign currency/cheque deposited to CAD account via ATM: $5
Hold post-dated item (per item left on deposit) $3
Night deposit services 100 disposable bags: $30 plus GST (any size)
lost key replacement: $15 plus GST
Overdraft Overdraft protection under $5,000: $3/month
Unauthorized overdraft: $5/item
Returned Items Per item returned due to non-sufficient funds (NSF): $48 (the NSF fee is charged in addition to the automatic unauthorized overdraft fee—see 'Overdraft' above)
For post or stale date, body, figure, signature missing: Free
Statements Mailed statement: $2/statement
Cheque images with e-statement PDF: $2/statement
In-branch transaction printout: $5 per month requested
Statement re-print: $50 (per statement range)
Stop payments (in branch, via phone or online banking) $13 (all or partial details provided)
Telephone transfers (internal transfer between accounts) $5
Third party demands Per official cheque issued: $20
Administration fee when satisfied: plus $50
Account transfer to another financial institution or credit union $25 (in addition to early account closure fee if applicable)
Unqualified item (unencoded; where manual posting is required) $10/item (includes cheques drawn in U.S. funds on CAD account)

Back to top

Remote Cheque Deposit Service Fees

(via Remote Cheque Deposit scanner technology)

Monthly fee per scanner $35
Set up fee $90**
Per additional unlisted transit $90
Add additional account $20
Remove account $5
Remove unlisted transit $30

**includes 1 unlisted transit and up to 10 accounts


Back to top

Automatic Funds Transfer (AFT)

(AFT Service provided by PaymentStream)

New AFT service set up fee
(includes: originator setup, initial file testing and credit application risk review)
$200
Creation of additional originator IDs$75
Manual or file upload transmission (cost per release)$10
Additional charge within each file (cost per item)$0.10
Automatic transmission (cost per month)$50
AFT trace request$15
AFT error correction/recall$1 per transaction
Hard token - new, lost or replacement$15

Back to top

Miscellaneous Fees

Item Fee (in CAD unless otherwise indicated)
Bank drafts (members only) U.S.: $10 USD
Foreign: $10
Stop payment: $25
Office cheques (members only) $10
Cash, coin & foreign funds cheques USD currency exchange: Free (members only)
Exchange coin: Free
Special cash order: $10 plus GST (members only)
GBP & Euro cheques: $30 
Ordering foreign currency via FX Notes Plus service
(available in-branch only)
Cost varies
The price of foreign notes is set by an authorized third party and ranges in price, depending on several factors, such as the amount ordered and delivery times you select. Visit us in branch for a quote.
Change of signer Per change, after the first one in any given year: $25
Online banking access for Commercial Banking accounts Monthly fee: $25/month
Hard token (new, lost of replacement): $10
Online banking access for Small Business Banking accounts Free
Estate Administer and settle estate account: $100 plus GST
Letters Immigration, Reference, Access, etc.: $30 plus GST
Interest advice: $30 plus GST (mortgages, etc.)
Credit reference $30/per request plus GST
Non-member charges Coin machine usage: 10%
Cashing cheque: $5
Photocopies $0.50/item plus GST
Utility bill trace service $15
$25 for items more than one year after the payment date
Interac e-Transfer® trace service $10
Safety deposit box rental
(Note that GST will be added to these prices)
Annual fees valid until May 31, 2024

View new fees as of June 1, 2024

1.5" x 4.5": $60
1.5" x 5": $60
2" x 5": $90
2.5" x 5": $90
3" x 5": $105
3.25" x 5": $105
3.75" x 5": $105
4" x 5": $105
5" x 5": $127.50
2.5" x 10": $127.50
3" x 10": $142.50
5" x 10": $225
10" x 10": $225
Safety deposit box key replacement $20 plus GST
Safety deposit box drill $200 plus GST (additional expenses may apply for remote locations)
Wires in CAD Incoming wire transfer: $15
Outgoing wire transfer: $30
Wires in USD Incoming wire transfer: $15 USD
Outgoing wire transfer: $30 USD
Wire transfer trace service
(missing originator info for incoming wire transfer, trace requests outgoing, recall of outgoing and amendments to outgoing)
$30

Back to top