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This is exactly what we have had to do, Sean. The company has been incorporated and I'm waiting to finish the paperwork with the bank so that the US company has
by kerryfalk 15y ago
This is exactly what we have had to do, Sean. The company has been incorporated and I'm waiting to finish the paperwork with the bank so that the US company has a bank account and we can begin process payments.
I find it unfortunate that this is the case though. I used to believe that it was due to regulatory differences of Canada vs. the USA but I don't believe that's the case.
Again, I'm not an expert this is all just based on my experience but the regulations for opening an account in the US are far more detailed than they are in Canada. The issue in Canada just seems to be that there is not enough competition. The banks in control of the payment processing industry are really large institutions, they're not hungry to gain ground by looking for new ways to do business.