Scotiabank starts charging small businesses an online banking bills payment fee
Posted by Staff on February 17th, 2010 at 07:24pm Comments
It appears that Scotiabank started charging small businesses a new, not so small, fee of $25 a month for the customers of said businesses to be able to use the online banking bills payments feature in Scotia’s online banking system.
Vancouver Sun reports that as far as in December 2009 small businesses started receiving notices from The Bank of Nova Scotia, stating that in order for their customers to continue using Scotia’s online banking bills payments feature to pay them, they (the businesses) would need to shell out $25 a month (or $15 if they’re already Scotia’s business clients).
The decision had a largely negative response from small businesses. Say what? Considering that online banking is touted to be the cheapest for financial institutions to maintain, why would Scotia bank want to charge this ridiculous fee on top of the standard service fees Scotia bank’s customers already pay? And why would Scotia charge them this fee for something that works for the convenience of Scotia’s online banking users?
According to Scotia’s spokesperson, the fee is charged only to businesses who receive less than 25 online bills payments a month, while the fee is meant to pay for Scotia’s new bills payments reporting system that allows payees to read statements online.
Despite the explanation, some small businesses are refusing to pay the fee, while Scotia threatens to shut down their online bills payments access. So as a Scotia customer in Canada don’t be surprised to find out that you no longer can pay an online bill that you were able to pay for years.
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