At Vancity Community Investment Bank (VCIB), below are our current Rates and Service Charges:
Rates:
- VCIB Prime: 5.95%
- 24 October, 2024
Historical VCIB Prime Rate Changes Effective Dates
| Year of Change | Effective Date of Change | Prime Rate |
|---|---|---|
| 2024 | September 5, 2024 | 6.45% |
| July 25, 2024 | 6.70% | |
| June 06, 2024 | 6.95% | |
| 2023 | July 13, 2023 | 7.20% |
| June 08, 2023 | 6.95% | |
| January 26, 2023 | 6.70% | |
| 2022 | December 08, 2022 | 6.45% |
| October 27, 2022 | 5.95% | |
| Sept 08, 2022 | 5.45% | |
| July 14, 2022 | 4.70% | |
| June 02, 2022 | 3.70% | |
| April 14, 2022 | 3.20% | |
| March 03, 2022 | 2.70% | |
| 2020 | March 30, 2020 | 2.45% |
| March 17, 2020 | 2.95% | |
| March 05, 2020 | 3.45% | |
| 2018 | Oct. 25, 2018 | 3.95% |
Impact High Interest Savings Account rates:
- Effective May 12, 2023
| $0 – 99,999 | Level 1 | 0.25% |
| $100,000 – $499,999 | Level 2 | 0.50% |
| $500,000 – $999,999 | Level 3 | 1.50% |
| $1MM+ | Level 4 | 2.60% |
- Interest is paid based on each tier as a split rate for dollar amounts within each tier.
- Interest is paid monthly on the last business day of the month and calculated based on closing daily balance.
Service Charges:
| VCIB Transaction & Savings Account Fee Schedule | ||||
| Account Name | Impact Business Account | Impact Business 100 Account | Impact Business Unlimited Account | Impact Business High Interest Savings |
| Clients with needs to move funds in/out for investments or limited use. | Clients with ongoing daily banking needs. | Clients with a high volume of ongoing daily banking needs. | Clients that need shorter-term fully flexible savings to complement their transaction account. | |
| Monthly Package Administration Fee | $0 | $25 | $50 | $0 |
| Monthly Fee Waiver
Monthly Administration fee waived when minimum monthly balance maintained. |
NA | $10,000 | $25,000 | NA |
| Account Administration: Statement Access | Monthly Electronic Statement FREE | |||
| Interest Rate | Refer to VCIB Interest Rate Bulletin at www.vcib.ca/rates | |||
| Online Banking Access | Included | |||
| Online Banking AFT Access | Included | |||
| Monthly Transactions included* | 25 | 100 | Unlimited | 10 |
| Note: * Where transaction threshold exceeded for 2 consecutive months fee for the next threshold transaction account will be applied. | ||||
| electronic debit and credit transactions | $0 | $0 | $0 | NA |
| External funds transfer AFT inbound (client-initiated pull) | ||||
| External funds transfer AFT outbound (client-initiated push) | ||||
| Pre-Authorized Credit (VCIB initiated pull) | ||||
| Pre-Authorized Debit (VCIB initiated push) | ||||
| Bill Payments | ||||
| Interac e-Transfer transactions | $0 | $0 | $0 | NA |
| Interac e-Transfer ® – Accept Deposit | $0 | $0 | $0 | |
| Interac e-Transfer – Send Money | $1.40 | $1.40 | $1.40 | |
| Interac e-Transfer – Request Money | $0 | $0 | $0 | |
| Interac e-Transfer – Fulfilling a Request | $1.40 | $1.40 | $1.40 | |
| Interac e-Transfer – Auto Deposit | $0 | $0 | $0 | |
| other transactions | $0 | $0 | $0 | NA |
| Cheques issued | ||||
| VCIB Miscellaneous Fee Schedule | |
| Chargeback (client receives AFT or cheque that is NSF) | $7 |
| Overdraft Charge/Handling Fee | $5 |
| Overdraft Protection Fee | Negotiable |
| NSF Fee (cheques or ongoing PAPs from client account) | $45 |
| Monthly Paper Statement (in lieu of estatement) | $5 |
| Stop Payment | $15 |
| Manual Account or Loan Statement | $10 |
| Bank Draft | $20 |
| Balance of Account – transfer of account to another FI | $25 |
| Closing account within 6 months | Within 90 days: $25.00 |
| Collection Items – Received | $20 |
| Collection Items – Sent | $20 |
| Looking Up Entries | $30/hour (min. $15) |
Vancity Community Investment Bank is a member of CDIC and is a Certified B CorpTM