I deal with both Canadian and US banks. Canadian banks are borderline criminal in how they gouge their customers. They also have the most incompetent employees. The fees are outrageous, the mistakes inexcusable. Serious frustration when you stop to actually think about it.
Just Got Ripped Off
- Thread starter westwoody
- Start date
I have no idea why so many ignore Credit Unions. I have done all my "banking" with a credit union for over 25 years and have had no problems.
When I travel, my first stop is always Vancity for cash withdrawals, no fees at all, and very good exchange rate.
When I travel, my first stop is always Vancity for cash withdrawals, no fees at all, and very good exchange rate.
westwoody is there reason you have that much just sitting in the account earning their joke of an interest rate? Unless you are looking to purchase a few chinese AK 47's or wholesaling coke why do you need that much in a liquid account (off topic but I'm curious...) As a note to the western readers, you too might have 100k in the bank if your real estate market allowed a house to sell for 350k instead of a 1.2 million.
I tried to join up
The last go around with the mortgage negotiation. I tried to deal with a credit union and they couldn't deal with my three different property locations. They would only touch my principal residence. All of them are tied financially together.
It's too bad. I used a credit union when I lived in Alberta and thought it was a good banking experience.
I have experience in the banking sector. What you have is an All Inclusive TD account. Some of the perks for this account is a free small safety deposit box, free personal cheques, free drafts/money orders, annual credit card fee is waived, unlimited transactions and free certification of cheques among other benefits.
Please don't be so naive, when you signed up for this premium account it must have been made clear that you are charged the monthly $29.95 fee unless you maintain a balance above $5000. Clearly you did not maintain that balance so why blame the bank for something you agreed to.
Not a rip off, just something you should have kept track of. You agreed to upgrade to the premium package for the benefits I gave above, all those would be completely free as long as you maintained over $5000 in the account.
Please don't be so naive, when you signed up for this premium account it must have been made clear that you are charged the monthly $29.95 fee unless you maintain a balance above $5000. Clearly you did not maintain that balance so why blame the bank for something you agreed to.
Not a rip off, just something you should have kept track of. You agreed to upgrade to the premium package for the benefits I gave above, all those would be completely free as long as you maintained over $5000 in the account.
While I was a student I enjoyed the fee-free banking at Scotiabank. Once I was no longer a student, I moved to Vancity. Like Coast Capital, pleasant, painless experience without getting gouged. Only need to hold $1000 in the checking account for it to be no-fee.
Banks and telecom companies are two businesses that make money hand-over fist in Canada, and you're best owning shares in them if you want to offset their charges.
Banks and telecom companies are two businesses that make money hand-over fist in Canada, and you're best owning shares in them if you want to offset their charges.
One of the benefits of over age 65 no more bank charges except overdraft if it occurs. I ordered some checks, they billed me about $100. I squawked, they reversed and don't charge me for checks any more. Probably all banks similar. Something to look forward to:doh:
and the feds absolutely LOVE it!!!
they tax them at normal corporate rates, swelling the federal coffers considerably - all at the consumers' expense of course. because the taxes are passed on to the consumers as a cost of doing business
it's really just a hidden tax on the consumers
Have not really read this thread but I concur... In fact our system is quite flawed.
