Does anyone know of any low fee or no fee banks? How's PC Financial? ++

[JDI007]

I currently have an account with CIBC and they are quite pricey at $3.90/month for a chequeing account..which I am thinking of dropping. It's too much..

I'v heard great things about PC Financial that they don't even charge you anything for an account, that it's absolutely free, is this true?
Does anyone have a PC account?

(Also, I have a question, I currently do not work, can I still open an account with PC Financial?)


/Any other banks you guys know of that have low or no fee's that I could open an account with?

-Thank you

[annedougherty]

PC account here No fees at all.

[Cake]

I use the PC also and had good service. And you can use the CIBC ATM with no additional fee.

[Frugalbigmama]

PC Financial for years and love it.

[lilo0003]

same here, PC and love it.

[JDI007]

Thanks guys! sounds great! I'll def. look into opening up an account there next time I'm in the area, will I still be able to even though I don't work at the moment? :/ (sorry for the stupid question)

[tjthemanto]

Thanks guys! sounds great! I'll def. look into opening up an account there next time I'm in the area, will I still be able to even though I don't work at the moment? :/ (sorry for the stupid question)

Yes , it doesn't matter if you work or not.

But if you need overdraft facility , they usually check your credit history before opening the account . They actually seem to do that for any chequing account you open.

Open a Savings & Chequing account with them ..No Minimums , No fees for cheque books etc.

But remember it takes 1 business day to transfer money from Savings to Chequing ..its not instant ..Sat/Sun & Holidays are also excluded.

You can use Online , Phone & CIBC ATM machines for banking. But CIBC tellers won't help you ..so pretty much everything is online & phone.

They have kiosks in stores like Loblaws , RCSS , No Frills etc where the rep might help you to some extent . The quickest way to open an account is to go to this kiosk with some cash & open it over the counter. You can just open with 10 bucks if you want .

You can open with cheque too, but it will take 5-6 days for the cheque to clear.

[Brad]

I have CIBC and pay no fees, you just gotta keep at least $1500 in the chequing account to avoid the fees. I think the amount is negotiable too.

[momof5boys]

I currently have an account with CIBC and they are quite pricey at $3.90/month for a chequeing account..which I am thinking of dropping. It's too much..

I'v heard great things about PC Financial that they don't even charge you anything for an account, that it's absolutely free, is this true?
Does anyone have a PC account?

(Also, I have a question, I currently do not work, can I still open an account with PC Financial?)


/Any other banks you guys know of that have low or no fee's that I could open an account with?

-Thank you

If you like banking with CIBC, then just threaten them with the fact that you will be changing to another bank if they don't drop their fees....that may work for you.

[tjthemanto]

I have CIBC and pay no fees, you just gotta keep at least $1500 in the chequing account to avoid the fees. I think the amount is negotiable too.

I think its reduced to $ 1,000 now if you have the Everyday Chequing Account.

https://www.cibc.com/ca/chequing-sav...ing-accts.html

^*Waived if you maintain a $1,000 minimum monthly balance.

[tjthemanto]

I currently have an account with CIBC and they are quite pricey at $3.90/month for a chequeing account..which I am thinking of dropping. It's too much..

I'v heard great things about PC Financial that they don't even charge you anything for an account, that it's absolutely free, is this true?
Does anyone have a PC account?

(Also, I have a question, I currently do not work, can I still open an account with PC Financial?)


/Any other banks you guys know of that have low or no fee's that I could open an account with?

-Thank you

Isn't that waived if you maintain a $ 1,000 monthly balance ?

https://www.cibc.com/ca/chequing-sav...ing-accts.html

^*Waived if you maintain a $1,000 minimum monthly balance.

[annedougherty]

Isn't that waived if you maintain a $ 1,000 monthly balance ?

https://www.cibc.com/ca/chequing-sav...ing-accts.html

^*Waived if you maintain a $1,000 minimum monthly balance.

???Are you asking the OP how much money they have in the bank? lol It says its waived so I'm sure if you have $1000 it's waived.

[padyofurniture]

Have had a PC Financial account for years. Felt like I was getting ripped off, like OP, but from the Credit Union. Never looked back.

[tjthemanto]

???Are you asking the OP how much money they have in the bank? lol It says its waived so I'm sure if you have $1000 it's waived.

Depends if they maintain it for the entire month . Even if they have $ 10,000 for 29 days and $ 999 for 1 day , they will be charged.

If it goes below for a fraction of a time & even if you fill it up immediately the same day , you still get dinged with the monthly fee.

[JDI007]

Nah I didn't have that much money in my account, I didn't put a lot in there because I wasn't sure if I was going to stick with the bank or not..for years I wanted to switch / anywho, now that I found PC Financial it sounds much better, I asked them if it's ok if I don't have a job currently and they said yes, I can still open an account, just need 2 pieces of ID so it's all good, hopefully within the next 2 months I'll be able to find work. But I think I will def. switch from my CIBC bank, they have a PC Financial kiosk at my Fortinos grocery store so that's nice.
Thank you all for the helpful info