Best Bank in your opinion

[addsup]

That's good to know. I don't think that's true for Qc, though.

Given round here, we have had several puppy/horse mills shut down and the mayor was bleating about how the council "could have adopted out all the puppies/horsies to local people"...

Our cat (whiskers in the pic) was from the Hull or Gatineau Humane Society, but we got him at a PetSmart on this side of the river, go figure.

[bargain_hunter_lola]

RBC can match it as I have one. No points and an annual fee though.

Huh. I called and they told me no, they can't get us 11%. Guess I got another unknowledgeable employee, which doesn't help their case.

The one at CIBC doesn't have points either, which I honestly dont care about. We have about 35,000 points with our RBC Visa and I have no idea what they are worth. I'll have to cash out before we switch and close it!

[Dhoward12]

alright thanks guys

[TeriB]

"Also do you guys know which bank gives the highest gic inerest rates or lowest mortage rates? or know any sites I tried goggling but non were updated"

Highest GIC 2 weeks ago was Vancity - unless you're west coast you won't have them. Try ING, they are often good.

If you're going to get a mortgage, always get an Independent Mortgage Broker. That way it will be a competitive process. Do not go direct to the bank. You will not get a better rate going to them directly. My boyfriend got a better rate from his bank, through the independent mortgage broker, than he did from the bank mortgage broker. He was really annoyed, but went with them anyway as it was the best rate.

[ashokia]

I work at CIBC. I was actually pretty shocked when I first got there, after banking at Scotiabank for most of my life. The level of customer service at CIBC was a million times better than Scotiabank.

CIBC is only affiliated with PC Financial in that you can go to a PC machine with your CIBC card and not get dinged with an extra charge and vice versa. We get so many PC customers coming into the bank wanting to access money, get drafts or money orders not realizing that we have absolutely no access to their accounts. It's very frustrating because usually the customer's get mad at us. I'm sorry, but if you want no-fee banking, you get what you pay for. (Or don't pay for, in this instance.)

If you get an NSF charge you can always ask a CSR to reverse it. Unless you've racked up several in the year they will almost always give you the money back. If they won't ask to speak to the Manager. Nine times out of ten you can get the money back.

I would highly recommend setting up appointments at several banks to discuss their rates. Let them know you are shopping around. There is always a little wiggle room and the banks want your business.

If you do a little work, you'll see a bigger payout in the end.

Hope that helps, and if you need any more help, feel free to PM me!

[cricky]

Having worked for CIBC for close to 5 years for PC Financial and CIBC. I'd go with PC Financial. Getting a draft can be a bit of a pain since there are no tellers but it can be rushed through the contact center. The rates with PC Financial were all ways better. But definitely shop around. Go to each banks web site and check out their rates.

[Dhoward12]

alright thanks guys

[save_girl]

One of the few things i found was a retro-grade step when we moved to Canada was banking fees. In the UK, normal banking is free though you still have to pay for unauthorised over-draughts and the like.

The other thing was puppies/kittens in pet shops...another no-no in the UK.

You can always get a no-fee account in Canada through an on-line bank like PC or ING or through a credit union. Just not through the regular big banks (unless there are special circumstances, ex. student, senior, large cash balance). I do wish the big banks offered one, but at least there are some options.

[save_girl]

In Ottawa the kittens are usually (always?) from the Humane Society / other shelters.

Pet Smart doesn't sell dogs and cats, only bird, reptiles, fish, small animals. Pet Valu is the same. Most of the ones in the GTA run cat adoption facilities as well.

I only shop at pet stores that don't sell dogs and cats, but luckily there are a few to choose from here.

[Eeyah]

I bank with both Scotia & CIBC both of which have been wonderful to me, very little to complain about

RBC....I have a personal vendetta against them...EVIL!

TD - Never been a fan of them, they are too "fishy" for my comfort. I work with all the banks on a daily basis, and the things I see TD "pull" baffle me....read the fine print people or your stuck with them for life!

Credit Unions - I banked with them for 20+ years, only reason I stopped was they weren't advancing fast enough with regards to technology(2001) and needed access to my $$ faster, thus my switch to Scotia.

[ahatt]

I'd be interested to know what you mean about the fine print with TD. We just switched to Scotiabank from TD

I bank with both Scotia & CIBC both of which have been wonderful to me, very little to complain about

RBC....I have a personal vendetta against them...EVIL!

TD - Never been a fan of them, they are too "fishy" for my comfort. I work with all the banks on a daily basis, and the things I see TD "pull" baffle me....read the fine print people or your stuck with them for life!

Credit Unions - I banked with them for 20+ years, only reason I stopped was they weren't advancing fast enough with regards to technology(2001) and needed access to my $$ faster, thus my switch to Scotia.

[marstec]

There is so much competition in the banking industry. I think most banks are changing their policies to attract or keep customers...ie increased hours, etc.

I switched from CIBC years ago because I felt like I was being "nickel and dimed" for everything. I am with RBC now and they are wonderful. Everyone has a different experience and you should look around if you aren't happy (just like if you aren't satisfied with any other service or professional).

[mailwin]

If you want lower fees and lower mortgage rates, you will have to give up something that you have been used to. Online bank is certainly an option to consider, such as ingdirect and icici bank. However, from my personal experience, online bank should not be your only bank. You should use it as a back up such as saving account or GIC.

[musiclifesoul]

*Clap Clap* i'm in total agreement, i personally have worked for 2 of the big 5's and the culture is relatively the same. We tend to go where we think the 'grass is greener' when sometimes ours just requires fertilizer.
In some cases yes the companies may differ in some aspects, but you wont find many differences with the top 5 as they are always competing
If you have a suggestion i can tell you that 1 customer can make a change. I sat in a management meeting at a bank where a customers branch experience was discussed.
Also to add, research research research. On a good note this is a good forum for that to get some direction but filter out the opinions. - thats my two cents

I say to myself, I'm not going to the Finance tab on SC because of all the ignorance - its like a train wreck you can see happening but still watch in horror all the same. So here I am, yet again, shaking my head in disbelief.

Since the Canadian economy is fairly strong and this is directly attributed to "the banks" most notably the big 5; why then complain about them. I can almost guarantee anyone with investments are receiving the dividends from "the banks" and they are part of their oh-so-popular DRIP mantra that seems to be brought up on this site on a regular basis.

Dhoward12, here's a novel idea. Why not go to the manager of customer service and tell them what your concerns are-if they are legitimate-the manager will listen and take appropriate action and you may end up liking where you bank. If they do nothing or worse, ignore you, then fire them and hire another bank to take care of you. Shop around, get an idea of what you want and good luck.

As for PC -hello everyone-they are a subsidiary of CIBC - part of "the banks".

I personally bank at Scotiabank and LOVE them. I came from CIBC and yes PC too and didn't care for them at all. Each to his own.

I'd like for once for someone on here to say something NICE about the Canadian economy instead of all the negative hoopla.

[LauraWill]

Go with PC Financial, they are free. If you have little credit, your card holds (money available upon deposit) will be very low, but use the account at least once per month and every 6 months call in to request your card hold review, they will raise your holds and limits as long as you have positive activity.