IronLawyer wrote:
Because they want to sell a more expensive business chequing account service that has higher fees associated with cash withdrawals and international wire transfers. Really, what business needs more than $50,000.00 cash per billing cycle (assume monthly, but perhaps quarterly).

Businesses should be using credit cards or cheques, not cash.

The international wire transfers has me stumped, but I presume they will offer some sort of enhances account that has fees for intl. wire transfers.

Your title and tone is misleading, this is only for business accounts not personal accounts. That is a big difference.

IL


My gut reaction too - it simply boils down to a question of supervision and fees. Note that CMB is not prohibiting wire transfers altogether; it's just shifting that service to another product offering.