From small and large commercial enterprises to farms and greenhouses, our business chequing accounts earn tiered interest based on daily balances. The interest is paid monthly to help you make effective use of available cash during flush months without locking into long-term investments.
Operating Accounts
Our operating accounts offer:
- Daily interest and monthly statements, including cheque image viewing.
- US accounts, US and foreign currency, drafts, and wires available.
- Night deposit box for overnight cash and cheque deposits, cleared, checked, and processed the next business day.
Libro’s operating account for businesses, farms, and organizations is available in five different packages:
Basic
A basic business account for those with lower balances and/or transaction volumes.
$6 / month
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Monthly Fee
- Waived with a $7,500 minimum daily closing balance per month (per transaction fee still applies).
Additional Details:
- 5 surcharge-free Interac ATM withdrawals*.
- Free transfers to loan payments, chequing, savings, and investments.
- $0.75/transaction
- $1.00 surcharge*: in-branch bill payment
- $1.50 surcharge: Interac e-Transfer
- 5 free then $1 surcharge: Interac ATM withdrawal*
- $3.00 surcharge: International ATM withdrawal (Cirrus®, Plus®)
- $10.00 monthly online cheque viewing (FREE with paperless statements)
- $7.50 fee for certified cheques, drafts
Business Special
This account is available for Organizations who would like a customized approach to their Business banking.
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This includes:
- Organizations that typically hold balances over $500,000.
- Townships, schools, hospitals, and foundations.
- Realtors, lawyers, and notary publics (where trust accounts are necessary).
Additional Details:
- Key benefits are customized to meet your organization’s needs.
Election Campaign
Available for registered candidates who are running in a federal or provincial election in a riding that resides in our general serviced area.
$0 / month
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Additional Details:
- No fee chequing account with unlimited transactions
- Free counter cheques
Business 60
For those with higher balances and/or transaction volumes.
$25 / month
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Monthly Fee
- Waived with a $25,000 minimum daily closing balance per month.
Additional Details:
- 5 surcharge-free Interac ATM withdrawals*.
- 60 Transactions.
- Free transfers to loan payments, chequing, savings, and investments.
- $0.75/transaction
- $1.00 surcharge*: in-branch bill payment
- $1.50 surcharge: Interac e-Transfer
- 5 free then $1 surcharge: Interac ATM withdrawal*
- $3.00 surcharge: International ATM withdrawal (Cirrus®, Plus®)
- $10.00 monthly online cheque viewing (FREE with paperless statements)
- $7.50 fee for certified cheques, drafts
US Business
This pay-as-you-go USD chequing account allows Business Owners to transact in US funds.
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This includes:
- Owners who monitor and take advantage of rates
- Owners who frequently exchange between CAD and USD
Monthly Fee
- 5 free transactions monthly, then $0.95 per transaction
- Image View fee of $5.00 unless paperless statements are set up
Additional Details:
- All balances, withdrawals, deposits and interest are in US funds with online banking and statements
Community
Fee-free account for small non-profit organizations and service groups with no borrowing requirements.
$0 / month
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Additional Details:
- 5 surcharge-free Interac ATM withdrawals*.
- 30 Transactions.
- Free transfers to loan payments, chequing, savings, and investments.
- $0.75/transaction
- $1.00 surcharge*: in-branch bill payment
- $1.50 surcharge: Interac e-Transfer
- 5 free then $1 surcharge: Interac ATM withdrawal*
- $3.00 surcharge: International ATM withdrawal (Cirrus®, Plus®)
- $10.00 monthly online cheque viewing (FREE with paperless statements)
- $7.50 fee for certified cheques, drafts
Business 200
For those with higher balances and/or transaction volumes.
$100 / month
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Monthly Fee
- Waived with a $100,000 minimum daily closing balance per month.
Additional Details:
- 5 surcharge-free Interac ATM withdrawals*.
- 200 Transactions plus 1 free per $1,000 minimum monthly balance over $100,000
- Free transfers to loan payments, chequing, savings, and investments.
- $0.75/transaction
- $1.00 surcharge*: in-branch bill payment
- $1.50 surcharge: Interac e-Transfer
- 5 free then $1 surcharge: Interac ATM withdrawal*
- $3.00 surcharge: International ATM withdrawal (Cirrus®, Plus®)
- $10.00 monthly online cheque viewing (FREE with paperless statements)
- $7.50 fee for certified cheques, drafts
Business Investment Savings
This investment savings account earns high daily interest.
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This includes:
- Owners who are interested in setting money aside from their regular day to day banking
- Owners wishing to save money with the flexibility of still having the funds readily available.
Monthly Fee
- 2 Free debit transactions per month, then $2.00 per transaction
Additional Details:
- The account requires a $2,000 minimum monthly balance in order to collect interest
- Interest calculated on ending daily balance
- Earns higher interest rate than the Regular Savings account without locking into a Term Deposit/GIC
Starting a small business
We’re experts in financial services and can help existing small business Owners and those who are starting a business. We can provide insights on local small business grants and guidance on the government’s Canada Small Business Financing Program (CSBFA). Your Libro Coach is here to provide you with all the support and guidance needed when starting a small business.
- Simplified and personalized business banking.
- Tips for CRA and source deductions for business banking.
- Solutions to help you manage cash flow including payroll services and Automated Funds Transfer (AFT) programs.
Commercial Banking Accounts
With holistic coaching on all your business needs, Libro is a leader in commercial banking. Our industry experts can help you navigate a variety of specific banking types and provide you with different commercial banking account options that keep your best interest in mind. To help you grow your business, we offer the following to our Owners:
- Mentorship and coaching with owners to build prosperity plans that address your goals.
- Ability to complete requests for funding or account changes both in person and remotely.
- Instant message or video call with your Libro Coach to discuss business needs.
- Promote businesses and partner with you to support the marketing of your business.
Joint Business Bank Accounts
With a joint bank account, both business owners can manage all parts of the account to effectively run your company’s financial needs. Libro can accommodate your joint business banking needs to allow owners to have access to features like signing and paying bills. Contact Libro to speak to an Account Manager to open a joint business bank account.
Enhanced Features for Businesses
Available in online and mobile banking
- Set up your business view to help you keep your personal and business finances separated.
- Switch between personal and business without signing in and out
- Set up and approve transactions on two-signer accounts.
- Set up View Only users to access your transaction history.
- Online banking only: Pay taxes right from your Libro account.
