Bank service charges in 2013

[Ciel]

Inspiration for this thread came about as a result of reading an article about the changes to seniors' banking accounts, primarily BMO's fee for $2 paper statements monthly or no-fee electronic statements.
http://www.thestar.com/business/pers...tatements.html

TD Canada Trust's rates as of August 2012:
https://www.tdcanadatrust.com/docume...6-20120724.pdf

BMO's fees:
http://www.bmo.com/home/personal/ban...ees-agreements


How I discovered that CIBC was changing some fees on April 1 (no fooling!) was while updating my passbook at another branch's ATM-the screen shared the news.

Well, here's the PDF to read about the upcoming changes. https://www.cibc.com/ca/pdf/AccountS...Changes-en.pdf
Good to know the maximum hold policy on cheques-if I ever score a large lottery cheque, I will have to cool my heels for 7 business days potentially.

[marstec]

I stopped banking years ago at CIBC because of the constant nickel and dime-ing. I have a few investment products with RBC and qualify for their no-limit banking rebate, which is currently worth $10.95 per month. There is so much competition for your banking business...choose the bank that gives you the most bang for your buck, pun intended.

[Zonny]

We've banked at RBC for years. We recently inquired about whether there was a better banking package for us; it seems with them, there isn't. If you do ten or less transactions per month there's a cheaper option, but if you do more, you may as well go for the unlimited. For the most part we use our Visa for everything, but there are automatic deposits/withdrawals that happen (RRSP/RESP, payments I make for someone else and get reimbursed for), we move money around for various reasons and I can't see that we can trim that much. I'm reluctant to go to a no-fee institution, but it's not like RBC does a lot for us for the $13.95 a month we pay.

[marstec]

Zonny,

You should check and see whether you qualify for the no-limit banking package with RBC. It is charged to your account every month and rebated back in full. I have various bank accounts with them, along with an RSP, RESP and TFSA. We have been long term customers at our local branch and any concerns are dealt with promptly.

[GoStumpy]

I got a letter in the mail regarding my TD Visa... Interest rates are rising across the board on the Emerald card (don't know about others) from 12.75% to 15.75%.

I hope to have them paid off by April 1st, that's for sure!