Over the last 38 years, Percel has developed and maintained a relationship with TD Canada Trust for the benefit of its clients.
This has translated to the receipt of the best possible service and highest available rate of interest on current and reserve fund accounts for our clients.
Each Condominium Corporation has a separate Reserve and Operating bank account. Surplus operating balances and reserve funds are continuously monitored and invested in financial vehicles offering the highest rate of return available, while staying within the bounds of those investments approved for the condominium industry.
Pre-Authorized Payment (PAP) programs and Customer Initiated Transfers are additional to the monthly property management service fee.
As the accounts are established in the name of the corporation, the signing authorities can be quite flexible according to the corporation's requirements. We recommend that one of the Percel executive sign all cheques along with a member of the board (usually the Treasurer) except for repetitive contract payments, utilities and payroll. This item can be discussed in detail and again, is flexible. In addition, in order to avoid late payment fees, we recommend that all utility payments be made by automatic bank debit (where available).