Island Savings

Business Service Fee Guide

At Island Savings, we like to make things simple for our business members—so here is a handy list that you can reference for account related service fees.

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Member Service Fees

Account Related Fees

Account closing (within 90 days)
Bank confirmation—standard
Bank confirmation—comprehensive
Chargebacks (deposit NSF cheque)
One-time fee after 18 months of inactivity
Inactive account (per month after 18 months)
Non-sufficient funds (NSF) cheque
Office cheque / Bank Draft (for member)
Office cheque / Bank Draft (for non-member)
Counter cheques-encoded (sheet of 2)
Order cheques (see branch for styles)
Order duplicate printed statement (per stmt)
In-branch statement printout
Stop payment (in-branch & electronic)
Un-encoded cheque
Foreign currency/cheque ATM deposit
Cheque written in U.S. funds on Canadian acct
Telephone request to transfer funds between Island Savings accounts

Automatic Funds Transfer (AFT)

New AFT service set up fee
Manual file transmission (cost per release)
Additional charge within each file (cost per item)
Automatic transmission (cost per month)
Hard token - new, lost or replacement

Wire Transfers

Wire transfer incoming (CAD)
Wire transfer incoming (USD)
Wire transfer Credit Union to Credit Union
Wire transfer outgoing (CAD)
Wire transfer outgoing (USD)
Wire transfer outgoing - international

Loan & Mortgage Fees

Loan Application Fees

Application ($100.00 min)
Standby fee ($100.00 min)
Letter of credit & undertaking—domestic (min $100.00/letter)

Late Filing Fees

Monthly information requirement (i.e. accounts receivable & payable statements) per occurrence over 45 days late
Year-end information requirement per occurrence over 60 days late ($250.00 per month thereafter)

LOC / Overdraft / Approved (including excess)

System generated fee per txn for excess LOC/OD
Manual transfer from another account to cover overdraft

Mortgage Fees

Mortgage discharge (prepared by lawyer)
Mortgage discharge (prepared by us)
Mortgage renewal (minimum cost)
Progress draw—or as negotiated, per advance (includes search fees)

Other Fees

Annual review—loan & LOC (min/per annum)
LOC margining admin fee ($100 min)/month

Everything Else


Credit reference request
Letters (minimum)

BizSimple™ Cheque Deposit

Monthly fee per scanner
Setup fee
Per additional unlisted transit
Add additional account
Remove account
Remove unlisted transit

**includes 1 unlisted transit and up to 10 accounts

Night Deposits

Per 100 bags
Lost Key Replacement

Safe Deposit Boxes

1.5" x 4.5" (price/year—excluding taxes)
1.5" x 5" (price/year—excluding taxes)
2.5" x 5" (price/year—excluding taxes)
4" x 5" (price/year—excluding taxes)
5" x 5" (price/year—excluding taxes)
2.5" x 10" (price/year—excluding taxes)
5" x 10" (price/year—excluding taxes)
Replacement key
Drilling box


*applicable taxes may apply to some services.