Still paying banking fees?

Stop Paying Bank Fees

Are you still paying banking fees? If you are, you should look at free banking options. A monthly fee of $12 or $15 can trun into a considerable amount over the years. Follow these steps to eliminate banking fess.

A. Consider banking online with a finanicial institution who gives you lots of value added services. An example is President Choice Financial. I get free checks (which TD, CIBC would never give) and earn at least $100 in free groceries just for using their services. It's like a double-dip bonus. I am banking free and getting free money for free banking.

B. If you are not comfortable with online banking, find out what is the threshold to avoid bank fees at you local branch. Usually this threshold level is $1000 but it can vary bank to bank. Shop for the best deal and never pay any transaction,ABM or checking fees.

C. Financial Consumer Agency of Canada (FCAC) provides interactive tools, cost of banking guide and information about different types of accounts and banking service packages available in Canada on their website. Click on the above link and then click on For Consumers and it will take you to a page where you can do your research on banking and other financial products and services.
First Published: June 22, 2007