ECU – A Division of WFCU Credit Union’s suite of Premier Business Accounts puts business members in charge, giving them the ability to choose the account that is right for their unique business needs. From Premier Business Pay-As-You-Go to Premier Business Plus, our range of business accounts provide tailored solutions based on business size, transactions and goals.
|Monthly Fee||$4.50||$20.00||$50.00||Custom Pricing|
|Free Transactions||Up to 3||up to 50||up to 200||Unlimited|
|Interest3||No interest||Tiered interest daily & paid monthly||Tiered interest daily & paid monthly||Tiered interest daily & paid monthly|
|Cash & Coin Supplied||$1.00/$1,000||$1.00/$1,000||$1.00/$1,000||Included|
|Cash & Coin Deposited||$1.00/$1,000||$1.00/$1,000||$1.00/$1,000||Included|
To learn more about all our Premier Business Accounts or to discuss which business account is best suited for your needs, please email us at email@example.com.
1Deposits include in branch deposits, ATM deposits, electronic deposits including preauthorized credits, e-transfer received, deposit anywhere cheque deposit and corporate deposit capture.
2Withdrawals include in branch withdrawals, ATM withdrawals, electronic withdrawals including preauthorized debits, point of sale, bill payments & cheques.
3Select PREMIER accounts can earn interest, with interest calculated on the minimum daily balance and paid monthly based on the balance of the following tiers: $0.01 – $74,999 I $75,000 – $149,999 I $150,000 – $299,999 I $300,000+
The ALTO Business Savings Account gives businesses the opportunity to earn higher interest as their balances grow. Interest is calculated on the minimum daily balance and paid monthly on the entire balance based on the following tiered structure:
|ALTO Business Savings Tiers||Interest Rate|
|$10,000 - $74,999||0.25%|
|$75,000 - $299,999||0.50%|
There is no charge for credits and deposits on this account. There is a fee for debits and withdrawals with this account.
U.S. Daily Interest Saving/Chequing Account
A daily interest savings account with an option for chequing privileges. Businesses can conveniently deposit U.S. cheques or cash directly into the account without converting to Canadian funds. Interest is calculated daily and paid monthly, based on a tiered structured.
The Printable Deposit Slip for Commercial/Organization Accounts (non-ATM) is for in-branch deposits or night deposits into a ECU – A Division of WFCU Credit Union Commercial or Organization operating account. Do not use this deposit slip at an ECU – A Division of WFCU Credit Union Automated Teller Machine (ATM).
This printable deposit slip offers the convenience of:
• Printing your own deposit slip at your convenience.
• Completing your deposit slip on the computer and save a soft copy for your records.
• Automatically calculate totals.
• Save your account information.
Instructions for In-Branch Deposits
1. Complete all mandatory deposit information on the deposit slip:
• Currency Type;
• Depositor Name and Phone Number;
• Account Name, Account Branch Name, Account Number and Sub.
2. Complete all other pertinent information on the deposit slip:
• List all your cheques in the cheque listing space provided, or provide a tape. Ensure the cheques are endorsed with your Account Branch Name and Account Number;
• List all your cash and coins by denomination.
3. Print the deposit slip.
• Selecting the Print button will automatically print two copies. The branch will stamp, initial and return the second copy to you.
• Attach cheques and list tape (if you have any) to the deposit slip.
4. Make your deposit in-branch with an ECU – A Division of WFCU Credit Union Business Member Service Representative.
Instructions for Night Deposits (not for use at a ECU – A Division of WFCU Credit Union Automated Teller Machine)
1. Complete steps 1 through 3 as stated above in “Instructions for In-Branch Deposits”.
2. Place the deposit slip and contents in your night deposit bag.
3. Place your deposit bag in the night depository.
Note: Please retain the second printed copy for your files. A copy of the deposit slip will not be returned.
Should you have any questions regarding the Printable Deposit Slip for Commercial and Organization accounts please call the Member Contact Centre at 1-888-767-9535.
COMMERCIAL/ORGANIZATION ACCOUNT DEPOSIT
ECU is implementing enhanced procedures related to the handling of cash and cheque transactions, in support of regulatory requirements.
As part of these changes, ECU retail staff will no longer be able to accept cheques payable to third party companies, or the CRA, as payment for your bills. In place of this practice, we have developed a simplified Payment Authorization Form that can be completed in your office, identifying the amount of the payment, and the bill that is meant to be paid. This form should be signed in accordance with the signing authority for your business and then presented by your staff member at an ECU branch for payment. The bill remittance voucher should be included with the Payment Authorization Form to ensure the correct vendor is being credited.
Carbon copy Payment Authorization Forms are available for pick-up at your local branch. Commercial members can also print out the form, available at the link below, and bring it into any ECU branch.
Instructions for using the ECU Payment Authorization web form
- Complete all mandatory information on the form, including Member Name, Date, Debit information (branch, account #, account type) Credit information (payee name, payee account #, amount), and signature(s).
- Bring completed form to branch with bill remittance voucher.
- Branch staff will make a copy of the completed form and retain for ECU record keeping.
For questions related to the Payment Authorization Form, please contact our Member Contact Centre at 1-888-767-9535.
As an alternative to submitting payment using the Payment Authorization Form, bill payments can be made through online banking from the convenience of your office, or at the ATM. If you are not already signed up for online banking, please speak to a Member Consultant who can assist you and walk you through how to make online bill payments.
Online banking also offers a ‘Pay Business Taxes’ feature which allows you to submit remittance and make payment for the following CRA bills:
- GST/HST 34 Filing and Remittance
- GST/HST Amount Owing Remittance (RC 159)
- GST/HST Interim Payments Remittance (RC 160)
- Corporation Tax (RC 159 / RC 160)
- Payroll and Source Deduction – Current Year