[ckloos]

Hi Everybody!

I just signed up to the forum, and it looks like I have lots to learn here.

Right to the point:

I am 27 years old, I own a small business which does well enough to leave me with a few bucks sitting around to save.

I am incorporated, and prefer to keep all the money in the business. My question is:

Whats the best way to save my businesses money? Right now, I am looking for low risk until I have a decent amount built up. The only thing I can think to do (which is what I am doing now) is to transfer the money online from a cheq account to a "high interest" savings account (pfffft, high interest 0.25%).

So, I looked at a bank called Acheiva who offfers a High Interest Savings of 1.75%..... problem is, can I take my companies money and transfer it to another bank legally.. seeing as though its incorporated?

Or is there something better I can be doing with the money!!??

I would honestly appreciate any advice on this matter.. I asked my bank (*cough* Scotia) and they just keep trying to push me into their products of course.

 

[Berubeland]

Your company can open a savings account at any bank.

Ally is apparently paying 2%

 

[ldk]

We do exactly that....we transfer any significant funds out of our regular business chequing account (I leave a few thousand for float) into an Achieva account to earn a little more in interest. I don't believe there is any limit to the number of bank accounts a corp. can own, but if I'm wrong, perhaps someone can correct me.