Scotiabank

Scotiabank, the trading name of The Bank of Nova Scotia, offers business chequing accounts in Canada, with CAD and USD accounts and merchant settlement. The stated client type is businesses.

Account lineup The bank lists the Select Account for business, the Right Size Account and the Basic Business Account, plus specialised products for professionals, community organisations and agriculture. The Basic account is available in Canadian and US dollars, and the Select account lets a business change its plan as transaction volumes grow.

Published fees Select starts from CAD 20 per month and Right Size costs CAD 6. Basic costs CAD 10.95 per month, or no monthly fee when the minimum balance of CAD 8,000 is kept.

Deposit insurance Scotiabank's official disclosure confirms membership of CDIC and the eligibility of deposits. Limits and category rules apply, so large balances should be checked against them.

Currencies The two currencies named are CAD and USD, which makes the accounts convenient for firms that trade with the United States and want to hold both without opening a separate bank relationship.

Who it suits Canadian small and mid-sized companies that want a mainstream bank account with a pricing ladder, and professional or agricultural businesses looking for a tailored package.