Desjardins Business Account Review: features and fees

Looking into Desjardins business banking for your company? With options like the Desjardins small business account, the Visa Desjardins business account, and its online platform Desjardins Accès D Business, the credit union offers a full range of tools for Canadian entrepreneurs.

In this review, we’ll discuss Desjardins's offerings, how they work, what they cost, and whether they’re a good choice, especially if you have customers or suppliers outside Canada.

Desjardins Review: Quick Overview

Desjardins: Key Features

Desjardins offers one business chequing account, as well as a savings account with Canadian and US dollar variants. Although there’s no specific Desjardins small business account, you can choose a transaction plan that fits your needs. The Visa Business card is a low-interest credit card suitable for small businesses and microbusinesses, helping with expense management. It offers cashback up to 1% and a promotional first-year waiver (then $60 per card, or $50 for five or more cards).³

The online platform AccèsD Affaires allows customers to manage payments, cheque deposits, bill payments, and wire transfers. Customers can access batch payments and multi-user access, making it a helpful tool for businesses with teams. Desjardins also supports currency exchange in more currencies than competitors like Tangerine.

Ease of Use

Many Desjardins customers value the combination of physical branches and online tools. AccèsD Affaires is available via web and telephone banking, though some international transfers must be enabled by a phone request. International transfers higher than the daily transfer limit (up to $25,000/day) require a call to activate limits on AccèsD.⁴

Customer Service

Desjardins offers phone support and in-branch service. AccèsD Affaires also includes a messaging system and optional telephone support, yet Trustpilot reviews frequently cite poor customer service, such as long holding times, repeat calls without resolution, and a lack of coordination between representatives.

Desjardins Fees

Desjardins fees are tiered and depend on transaction volume.⁵ Basic fees include:

• Monthly management fee: $5.95 if no transaction plan is selected.
• Transactions: Tiered per-transaction cost depending on volume via AccèsD Affaires plans. Teller transactions are costlier.

Key international and currency-related fees:⁶

• Foreign currency purchase/sale: USD free; other currencies $3.50–$5 per exchange.
• International wire fees: CAD $15 for outgoing to non-Desjardins entities; CAD $7.50 to other Desjardins branches.

These fees add up quickly if your business has regular foreign transactions or international suppliers.

Wise Business Could Help Your Company Save on Global Payments

Desjardins Advantages and Considerations

Advantages

• Extensive branch network across Quebec and parts of Ontario
• US dollar account option available for small-to mid-sized businesses
• AccèsD Affaires platform supports batch payments, multi-user access, and support for multiple currencies
• Visa Desjardins Business Card offers cashback rewards and integration with platforms like eBay

Considerations

• International transfer fees may be higher compared to some competitors
• Exchange rates for non-USD currencies can include built-in margins
• Some users on Trustpilot have noted customer service delays and long response times
• AccèsD international transactions may require prior phone-based activation in advance

What are the benefits of Desjardins?

One of the biggest advantages of Desjardins is its strong local presence, particularly in Quebec. For business owners who value in-person service and community-based banking, Desjardins offers access to over 1,000 locations, as well as French-language support. The Desjardins business account is flexible, with multiple transaction plan options based on business needs, and can be paired with the business Visa for streamlined expense tracking and cashback rewards.

The online platform, Desjardins Accès D Business, supports batch payments, multi-user access, and the ability to manage CAD and USD accounts in one place, making it useful for companies that deal in both currencies.

What are the disadvantages of Desjardins?

Despite its local strengths, Desjardins may not be the best option for businesses with international needs. Its fees for international wire transfers are high, and currency exchange rates include hidden markups, making frequent foreign transactions costly.

Additionally, the Desjardins Accès D Business platform, while functional, has been criticized for requiring phone calls to enable international transfers or increase limits, adding unnecessary steps for busy business owners.

Desjardins vs RBC Business Banking

Compared to RBC (Royal Bank of Canada), Desjardins offers a more community-based approach, especially appealing to Quebec-based customers. Both institutions provide CAD and USD accounts, credit card options, and online banking platforms. However, RBC’s digital banking tools tend to be more robust and user-friendly, with wider availability across provinces.

RBC also has better integration with international business services, though both charge high fees for wire transfers and currency exchange. For entrepreneurs outside Quebec, RBC may offer broader accessibility.

Desjardins Alternatives

If you're exploring alternatives to Desjardins business banking, here are a few options:

• Wise Business: Best for international transfers, holding multiple currencies, and receiving foreign payments at the mid-market rate. No monthly fees or hidden costs.
• Tangerine Business Account: Good for freelancers and sole proprietors who want a no-fee chequing account, though it lacks business credit cards and branch support.
• Scotiabank Business Banking: Offers a wide range of business products and better integration with global finance tools. Fees are comparable to Desjardins but with more flexible international banking support.

Each alternative comes with its own pros and cons, so the right choice depends on how local or global your business really is.

Conclusion: Is Desjardins the best choice?

Desjardins is a solid option for Canadian business owners who prefer local branch access, CAD and USD account options, and a range of financial tools.

But for businesses that rely on international transfers or work with global customers, the high fees and slower processes may not be ideal. If global payments are part of your business model, it’s worth considering more modern, cost-effective solutions.

Save Time and Money On Overseas Payments With Wise Business

Wise Business can help you save big time on international payments. Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in 40+ currencies.

Use Wise Business >>

Some key features of Wise Business include:

• Mid-market rate: Get the mid-market exchange rate with no hidden fees on international transfers
• Global Account: Send money to 140+ countries and hold multiple currencies, all in one place. You can also get major currency account details for a one-off fee to receive overseas payments like a local
• Business Debit Card: Invite your employees to order a debit card for free, and pre-set their spending limit. Add them to your Business account with controlled access and track their spending in one place.
• Global Account: Send money to 140+ countries and hold multiple currencies, all in one place. You can also get major currency account details for a one-off fee to receive overseas payments like a local
• Auto-conversions: Don't like the current currency exchange rate? Set your desired rate, and Wise sends the transfer the moment the rate is met
• Free invoicing tool: Generate and send professional invoices
• No minimum balance requirements or monthly fees: Canada based businesses can open an account for free. Learn more about fees here

Sources:

1. Business Services | Desjardins
2. Desjardins Review | Trustpilot
3. Visa Business Card | Desjardins
4. International Transfers | Desjardins
5. Business Account Transaction Plans | Desjardins
6. Service Charges for Businesses | Desjardins