The Operations Account
Withdrawals, transfers, cheques, bill payments… If you are looking for a bank account that offers flexibility, keep reading!
WHAT IS THE OPERATIONS ACCOUNT?
The Operations Account is a multipurpose account that allows you to simplify your financial management. It offers you the flexibility of a chequing account while being economical. In fact, you won’t pay any administration fees for your regular transactions if you maintain the minimal monthly balance required. Otherwise, you can combine it with one of our banking plans.
A monthly minimal balance of $3,000* will save you the following transaction fees:
- Preauthorized transfers
- Bill payments by ABM or LBCDirect
The following transaction fees apply when the monthly minimal balance is lower than $3,000:
- Withdrawal, preauthorized transfers and transfers made at an ABM or through LBCDirect: $1.001
- Cheques: $1.251
The monthly account maintenance fees will be of $3.001 with a paper bank statement2. No charge for an electronic bank statement2 via epostTM.
This bank account is suited for you if:
- You are looking for a way to ease you financial management with a single account allowing you to settle your banking transactions;
- You are able to maintain you monthly balance to a level higher than $3,000, thus lowering the administration fees;
- You settle your bills electronically.
This bank account is not suited for you if:
- You wish to save large amounts.
1. Fee schedule in force as of March 1, 2021. For Further information about this service and banking fees, please refer to the My Money fee schedule guide.
2. You will receive a bank statement only when you conduct more than five transactions since the last statement was printed. Applicable account maintenance fees will continue to be charged to your account.
epostTM is a trademark of Canada Post Corporation.
*If you don’t have the minimal balance, you should ask for a banking plan.