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Originally Posted by jade12
That is indeed pretty messed up
I had a similar problem to that with my old bank (TD) here in Canada with my mainstream business once they froze my bank account on "suspicious activity" when I sold one of my business' for 2K (not a lot of money IMHO to justify "suspicious activity".)
They knew I had an internet business, refused to see it as "viable income" but had no problem taking that money and applying it to my loan and mortgage payments ... they were also quite shocked when I told them I was taking all my personal and business banking elsewhere, as they refused to supply me with a merchant account. I think if I spend a few hundred K in your bank, you best be giving me a merchant acct, esp when 90% of those debts are paid off and the reason why they are 90% paid off is because of my internet business'.
Do yourself a favor and find a small nice bank that will cater to your needs and value your business, I have found a good provincial bank and now couldn't be more pleased with their services and they know everything I do online.
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Jade - you found a Canadian bank that would give you a merchant account? I thought this was impossible now so it's great to hear there are some options. Is it a credit union?