Daily Rant: Banking Service not always an Oxymoron

Well, we thought it high time to follow a basic tenet of small business finance – open a separate bank account for ones corporate affairs. Done!

The two of us headed off to a local mall that has three chartered banks. Selection! Choice! Which do we go with..orange, burgundy or blue? A wise friend suggested they are all about the same…in his experience, it was all about the relationship with the branch manager…yes the people were key to selecting a good bank.

Scotiabank was our first stop. One thing we forgot to bring was our third director. We were told that Scotiabank could not start processing our new account unless all three corporate directors were there, signing paperwork and watching a banking representative enter information into a computer screen. Since our directors are busy people, it is a challenge to get all three people in a room at once.