Accounts
What is the most popular business banking chequing account?
Everyday A Business Plan
What credit score does a guarantor need to be equal to or greater than to qualify for unsecured credit?
650
What are the four disclosures sent in every e-sign?
CDIC Coverage, Our Small Business Commitment, E-Signature Disclosure and Small Business Accounts Service Plans & related products.
Which countries have LLCs?
The United States of America (USA)
What is the fee for bank draft?
$9.95
How much do you need to keep in the Everyday C Business Plan to waive the $120/monthly fee?
$45,000
What information do you need to have for an employee to receive a Business Credit Card?
Name, date of birth, phone number, and address.
What internal documents are always needed when opening a new corporation?
Business Banking Service Agreement, Corporate Resolution, Signature Card, Tax Residency Self-Certification, and KYB Checklist.
Which province can we search the condo registry for a Condo Corporation?
Ontario.
What is the fee for a incoming wire?
$17.50
If someone deposits $5,000 of cash in a Basic Business Plan in a month, what will be the cash deposit fee at the end of the month?
$12.50
What is the lowest amount a BLON D can be funded for?
$5,000.
Which documents need to have a wet signature rather than be e-signed?
Power of Attorney and Revocation of Power of Attorney
When requesting a specialized COVR for a Condo Corp, what do you receive?
Declaration of the Condominium Corp.
How long until a cheque is stale dated?
Over six months past the date on the cheque.
How many different types business banking chequing accounts does BBS offer to open?
14 (Basic, Everyday A, Everyday B, Everyday C, Unlimited, Community Plan, Community Plan Plus, USD Basic, USD Everyday A, USD Everyday B, USD Everyday C, USD Unlimited, USD Community Plan, and USD Community Plan Plus).
What credit score does a guarantor need to be equal to or greater than to qualify for a BLOC/BLON A and C?
600
What documents are always sent to SBBAR when opening a Formal Trust?
Formal Trust Agreement, Proof of address, Business Banking Service Agreement (BBSA), Signature Card, Formal Trust Information for Trustees, Settlors and Beneficiaries, Tax Residency Self-Certification, and KYB Checklist.
If two corporations are partners on an LLP, who needs to sign the Partnership Resolution?
Owners of the Corporations under their own name and an authorized signor from the Corporation under each Corporation name.
What information needed to be provided to send a wire?
In the Business Savings account, what interest will you receive on balances between $250,000 - $499,999.99 currently?
3.30%
What is the maximum amount a BLOC A can be funded for?
$1,500,000
When does a business operating in British Columbia have to register a trade name?
If they are a Partnership engaged in trading, manufacturing, or mining.
How recent does the Meeting Minutes need to be to confirm Directors on an LLC or Condo Corp?
24 months.
How many days are cheques drawn on US Institutions held for?
15 business days.