[OSGeo Finance] Re: Bank Account Update & Question

[Tyler Mitchell (OSGeo)]

FYI - Just to follow up... HSBC won't work out.  Their costs for  
doing remote deposits and online wire transfers ended up being way  
too high for our volume and there were some limitations to using USD  
accounts made them a less attractive solution.

I've met with 6 different banks so far (2 earlier, 4 today) - ones  
that have branches in other Canadian cities so more of us can help  
manage the accounts.  In some cases they have to get back to me to  
follow up with some answers, but in some cases their features are  
fairly equal.  Anyone have preferences or experience with a small biz  
friendly one: RBC, BMO, TD, Scotia?

Tyler

On 27-Mar-08, at 9:48 AM, Tyler Mitchell (OSGeo) wrote:
> Our payroll management company, PEO Canada, helped set up a meeting  
> for me with RBC bank yesterday - who they deal with for their  
> accounts.  It doesn't sound very encouraging at first look, to be  
> able to have good representation/access on both sides of the  
> border.  Even their offices in the US run as subsidiaries and are  
> not "connected" to the Canadian system.
>
> They do support some US companies that only bank in Canada though,  
> so that's encouraging.  Their mail-in deposits and electronic wire  
> transfers sound quite the same as our current bank.  The only  
> advantage with them would be that they have a local branch (local  
> for me).  They are getting more information for me though.
>
> More to come as I have a follow up with discussion with HSBC as  
> well.  Either way, it looks like for me to manage the accounts more  
> locally, we'd need to have a Canada-based account.  Assuming that  
> is all legal, possible and affordable - are there any downsides  
> anyone sees?  I would like it that at least Dave and I could walk  
> into a branch office when needed.  Or even Frank if needed in the  
> future.
>
> Tyler
>
> On 20-Mar-08, at 6:13 AM, Dave McIlhagga wrote:
>
>> In Speaking to Tyler yesteday, I suggested we might be able to use  
>> a Candian Chartered Bank that has operations in the U.S.
>>
>> In that way we might be able to have a US based account, but allow  
>> us to do deposits etc... within the Candian Branches.
>>
>> Tyler said he was going to look into this option.
>>
>> Dave
>>