Adding a Business as Payee on Online Banking?

Good morning (EDT)!

I have a small business here in Canada and am interested in potentially adding my business to the payee list on online banking so that my clients can deposit directly to me.

I wanted to get some advice from someone who has done this or knows about the process. I have asked the bank and they haven't gotten back to me yet.

What's involved in doing this? Does it cost anything and if so, how much? Is there documentation available online regarding doing this? If I set up with my bank, do I have to set up with other banks I want to be listed with or can my bank coordinate this all for me?

Thanks for any help you can offer.

In the US, it mostly depends on how many people are sending bills to that payee. The more bills get sent out, the bigger likelihood the bank is going to want to stop writing checks and paying postage and will just direct deposit the bills.

Sounds like you're not running a megacorp, so you're probably stuck getting paper checks every time someone wants to pay you.

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