Soon after registering my business Crossroads Media (An online advertising and Web design company), I went around to the different Banks to find out what are the requirements needed to open a business account. Finally, after visiting all the different banks, decided to open the account with Royal Bank of Canada.
I preferred Royal Bank because of its online banking service, now we can transfer money between accounts and see when payments are deposited into the account. First Caribbean Bank Int’l also offers online banking, but from my pass experience with the service was not very good one. For some reason there was always problems to log-in and just didnâ€™t cut it.
Business Bank Account requirements:
- $500.00ecd deposit which was required by all banks
- Business registration documents
- A form of pictorial ID â€“ Passport or Social Security Card.
Forget to mention that the Royal Bank charges a fee of $5.00ecd very month for the online banking service and you also need to go the Bank branch office to sign-up for the Online Banking.