Help choosing a new bank

[Lindz13]

I'm in search of a new bank as my current one has driven me to the edge this past year and basically broke the camels back this morning. To make the last year a short story my husband lost his job of 10plus years and we were up to our eyeballs in debt that we were just getting started on managing properly. With the help of a credit counseling place (no profit of course!) we hit up all our debtors and asked for reprieves. My VISA card with my own bank said no. I then asked for my rate to be lower in lieu of the situation, they punched in my 'stats' into their system which told them I wasn't qualified. My balance was to high. grrr...fine...I spend the next few months plugging at it. I managed to get it down to $600 which is a fraction of what my limit is and was still told this morning I don't qualify. This was the last straw. I've had other issues fueling my decision to leave this bank.

So if anyone has good and/or bad advice about banks they previously or currently deal with that would be much appreciated. I am leaving out my current banks name as to not make anyone bias to my situation. I may just have bad luck with this bank and maybe should stay with them I don't know. Very frustrated and in need of advice.

[mcandlish]

I love President Choice Financial, free banking, good service, i highly recommend.

[walkonby]

I love President Choice Financial, free banking, good service, i highly recommend.

ditto!!

[Gsxrboy]

I 3rd PC as well. Another place you may want to consider is a Credit Union, they offer some great services that most banks do not offer. Check them out and see how they compare.

[alicia]

I love President Choice Financial, free banking, good service, i highly recommend.

I am also very happy with PC. Accidentally bounced a cheque last week (first time ever - got my cheque books mixed up) and they waived the fee for me. Also, those cheques were free to get in the first place. I only have Chequeing/Savings/TFSA with them currently... No credit card (BMO MasterCard) or Registered Accounts.

[Shwa Girl]

OP, first congratulations on your success after all that hard work. Hopefully the new bank (s) you choose, will treat you better.

My 2 cents worth: I like President's Choice Financial, ING DIRECT, Bank of Nova Scotia, TD CT, and CIBC.

I hate the Royal Bank. If you tell me your bank is Royal Bank, I won't be surprised.

What we have found out is that some branches of the big banks have better employees that other branches. So we are loyal to the branches of the big bank that treat us "royally".

Good luck! And again, Congrats!

[CanadianCouponCollector]

I never had real issues with Scotiabank, my bank for the past 10 years, but the fees for everything make me so mad and they never did anything exceptional to make me want to stay. I just recently began the switch to TD Bank just for their tablet deal (open an account, get a tablet), and because it's a bit closer to me. I REALLY want to get in on the PC Financial thing and have heard good things about it. The problem is that I do not have a credit card and they won't allow you to open an account without one. I have no rave reviews for any particular bank, just wanted to share my opinions.

[Shwa Girl]

I REALLY want to get in on the PC Financial thing and have heard good things about it. The problem is that I do not have a credit card and they won't allow you to open an account without one. I have no rave reviews for any particular bank, just wanted to share my opinions.

Just clarifying, are you sure you need a credit card to apply for a PC savings account. I saw that you can provide 2 pieces of Government issued identification in person at the PC Bank in store

[redhdlois]

I prefer banking at a community credit union (vs. supporting the BIG banks)

[walkonby]

I never had real issues with Scotiabank, my bank for the past 10 years, but the fees for everything make me so mad and they never did anything exceptional to make me want to stay. I just recently began the switch to TD Bank just for their tablet deal (open an account, get a tablet), and because it's a bit closer to me. I REALLY want to get in on the PC Financial thing and have heard good things about it. The problem is that I do not have a credit card and they won't allow you to open an account without one. I have no rave reviews for any particular bank, just wanted to share my opinions.

My DD and DS both opened a PC acct and neither of them have a CC. You do need to have a chequing acct at another bank to write a cheque to open your PC acct. The CC issue, does this mean you have no credit history at all? If so, after they receive your mailed cheque and they open your acct, they might send you a form to fill out, to send them photocopies of approved gov't issued ID to prove who you are, and it will have to be signed by a Dr. or dentist, lawyer... that sort of thing.

[CanadianCouponCollector]

... oh geepers sorry for the misinformation, then! The last time I went to a booth to inquire about signing up, they told me I had to have a cc to do it. This was about 2 years ago... I never thought to try again or look into it further. I have a closed cc account which I am still slowly paying off. Credit is no good due to many different issues. Also I have no cheques from my bank and I can't bring myself to spend over $30 for them since I never use them. I don't want to hijack the thread, so if someone is able to explain how I can open one without cheques or cc pm me as I'd love to lose all these fees!

[Natalka]

I prefer banking at a community credit union (vs. supporting the BIG banks)

Same, they have always treated us well.

[Lindz13]

I never had real issues with Scotiabank, my bank for the past 10 years, but the fees for everything make me so mad and they never did anything exceptional to make me want to stay. I just recently began the switch to TD Bank just for their tablet deal (open an account, get a tablet), and because it's a bit closer to me. I REALLY want to get in on the PC Financial thing and have heard good things about it. The problem is that I do not have a credit card and they won't allow you to open an account without one. I have no rave reviews for any particular bank, just wanted to share my opinions.

Funny you say that, I had a meeting with scotia yesterday afternoon and thought the same thing that there was a fee for everything. Along with my day to day account I have a few savings accounts that I put money from each paycheque to pay for things that only come a few times a year like property taxes and autopac and I would have had to pay $4 per account. I don't think so joe! I flat out asked about a fee'less account and she said they got rid of those......gee......

President's choice not really an option for me as my city doesn't have one. I'd have to drive into the next city about 30-45mins away if I needed anything. Not really worth it. We have the big ones in town. Royal, Cambrian, Scotia and CIBC. I have an account at CIBC with 'hidden' money for emergency's. My husband's accounts are still separate from mine at Cambrian.

[alicia]

Funny you say that, I had a meeting with scotia yesterday afternoon and thought the same thing that there was a fee for everything. Along with my day to day account I have a few savings accounts that I put money from each paycheque to pay for things that only come a few times a year like property taxes and autopac and I would have had to pay $4 per account. I don't think so joe! I flat out asked about a fee'less account and she said they got rid of those......gee......

President's choice not really an option for me as my city doesn't have one. I'd have to drive into the next city about 30-45mins away if I needed anything. Not really worth it. We have the big ones in town. Royal, Cambrian, Scotia and CIBC. I have an account at CIBC with 'hidden' money for emergency's. My husband's accounts are still separate from mine at Cambrian.

But you can set up your account with PC online, just send them a cheque and photcopied ID. Then, you can use the CIBC ATM in your city for free. Everything else can be done online/via the phone. And if you REALLY need a teller then go to CIBC.

[Lindz13]

But you can set up your account with PC online, just send them a cheque and photcopied ID. Then, you can use the CIBC ATM in your city for free. Everything else can be done online/via the phone. And if you REALLY need a teller then go to CIBC.

Good to know! I didn't realize they were CIBC affiliated. Thanks!