Business Service Fees

Westminster Savings Credit Union offers competitively priced business services to ensure your business gets maximum value at a low cost.

Service pricing effective: March 1, 2013

Automated Teller Machine (ATM)Fees
Replace lost card $5.001
Canadian Exchange Network Fee Free
Interac Network Fee $1.75
Foreign Network Fee (Exchange or Plus) $2.50

1 Plus GST

Bill PaymentsFees
In-branch $0.501
TelExpress $0.501
Online Banking $0.501

1 Fee can vary by account type

ClearingFees
Unencoded Items1 $5.00
U.S. Funds drawn on CDN account $5.00
Deposit Euro/GBP cheque to WSCU account $10.00
Overdraft Charge (if cheque is paid)2 $5.00
Coverdraft transfers $5.00
NSF (cheques/PAPs)3 $40.00
Stop Payments $10.00
Chargebacks - business $5.00
Chargebacks - personal $5.004
Tracing/Bill Payments - items with payment date less than a year ago $15.00
Tracing/Bill Payments - items with payment date 1+ years ago $30.00 per hour
($15.00 minimum)
Hold Funds $5.005
Non-member cheque cashing $10.00
Cleared item search (cheque, debit, credit) - less than 90 days old $5.00
Cleared item search (cheque, debit, credit) - 90+ days $15.00,
or $30.00 per hour

1 Non-encoded cheques and pre-authorized items
2 For each cheque, ATM or POS which creates or increases an overdraft
3 Overdraft fee also applies
4 If item is members own cheque
5 Plus applicable long distance charges

CollectionsFees
Cheque sent for Collection $15.00
Cheque received for collection $15.00
Electronic Funds Transfer for BusinessesFees
Set Up Fee1 $150.00
Auto Release2 $60.00
Manual Release3 $10.00
Credit union transaction4 $0.10
Other financial institution transaction4 $0.15
Mass error correction5 $10.00
Other financial institution transaction $55.00

1 One time fee
2 One fee covers all auto releases during a given month
3 Fee applied to each manual release
4 Fees apply to credits and debits
5 Fee charged to reverse previously transmitted files

Electronic Funds Transfer (in-house)Fees
Monthly fee - 0 to 50 transactions $20.00
Monthly fee - 51 to 100 transactions $40.00
Monthly fee - 100+ transactions $75.00
MiscellaneousFees
Post-dated Cheques1 $3.00
Statement Reprint2 $5.00
Duplicate Tax Receipt3 $5.00
Account Closure4 $20.00
Dormant Accounts5 $30.00
$3.00

1 Charged in branch and in advance, per deposit
2 First reprint is free; statements available in Online Banking
3 Charged for current tax year. For previous tax years, $5.00 + cost
4 Charged only if account is closed within 90 days of opening
5 Initial fee and ongoing monthly fee, respectively

Certified FundsFees
Canadian Money Orders $7.00
Canadian/U.S. Drafts - Member Fee $7.00
Canadian/U.S. Drafts - Non-member Fee $10.00
Foreign Drafts - Member Fee $7.00
Foreign Drafts - Non-member Fee $10.00
Office Cheques - Member Fee $7.00
Office Cheques - Non-member Fee $10.00
Foreign currency buy/sell - less than $250 CDN equivalent - Non-member Fee $15.00
Foreign currency buy/sell - overnight shipping less than $2000 $15.00
Night DepositoryFees
100 plastic bags $25.001
Annual key charge2 $10.00
Replacement key $15.00 + cost

1 Plus GST
2 If applicable; not all branch night depositories require key access

Record SearchesFees
Revenue Canada Request/Requirement for Information and Inspection No Charge
Member requested record searches $30.00 per hour + cost of retrieving archived materials
Revenue Canada Requirement to Pay/Garnishee Orders1 No Charge

1 Includes demands under Family Relations Act and Garnishee before & after judgement.

References & ConfirmationsFees
Bank Confirmations $35.00
Immigration & Reference Letters $15.00
Lawyer review of documents $100.001

1 Plus GST

Registered Savings PlansFees
RESP Transfer Fee1 $50.00
RRSP Transfers Out2 $50.00
Closing Fee3 $100.003
Full transfer $100.003
Partial transfer $50.003

1 No charge to other credit union
2 Funds transferred out through our Financial Planners will not be charged. Transfer fee applies to all financial institutions, including credit unions
3 Fee charged if plan is closed within 12 months of opening

Safety Deposit Boxes1Fees
X-Small - 1.5" X 5" and 2" X 5" $40.002
Small - 2.5" X 5" and 3.5" X 5" $55.002
Medium - 2.5" X 10" and 5" X 5" $75.002
Large - 2.5" X 11" and 3.5" X 11" and 3" X 10" $80.002
X-Large - 5" X 10" and 5" X 11" $140.002
Industrial - 10" X 10" $240.002
Replace lost key $15.002
Drill box $25.003

1 Annual charged is debited in advance to member's account on November 1; fees are non-refundable; box sizes vary by branch
2 Plus GST
3 Plus costs and GST

TransfersFees
Telephone Transfers1 $5.00
Inter-institution (outgoing) $7.502
Interac e-mail money transfer $1.00
Inter-institution (incoming) $2.60
Me To Me Transfer (outgoing) $2.00
Me To Me Transfer (incoming) Free
Balance of account to another institution $20.00
Set up loan PAP from another institution $2.00

1 Within WSCU
2 Plus costs

Travellers ChequesFees
Regular Free
 

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Member Service Centre Hours

Monday to Friday 8 am - 8 pm


Saturday 9 am - 4 pm


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