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Bank Account Fees...?
I've been with TD for 5-6 years and these assholes charge me 12.50 or so a month plus random fees for online transactions that are not clearly layed out.
Anyway, do banks have retention departments? My friend is telling me I should switch to a credit union where there are no monthly fees, do you think if I threaten to leave theyll offer any leverage?
Anyway, do banks have retention departments? My friend is telling me I should switch to a credit union where there are no monthly fees, do you think if I threaten to leave theyll offer any leverage?
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I'm with Coast Capital now. Really, really friendly and a great deal if you're looking for good savings account rates and the no-fees chequing. Their term deposit rates suck though (it's almost worth it just to keep the money in my savings instead of locking it in), but I can't complain.
im calling td tomorrow, vancity and coast capital are offering way better plans
Look guys, I haven't been involved with my finance until VERY recently when my mom gave me my bank passbook...
and don't make fun of this peter..
for now i'm using HSBC direct savings but it's pretty much a chequing account but i get the interest. all of it is done online since i don't usually do branch banking anyway.
Why does that matter?
What is the point of having a bank if they are only opened when you are in class and never able to go in?
My term deposits are also done online...
I can't remember the last time I talked to a teller, actually.
Vancity, because they gave me some scholarships.
HSBC, because it has my High Rate savings.
RBC, for my VISA and Chequings account.
Switch now, and give me a referral. We get $50 each ;) lol
With TD all you guys should have the free students checkings account. Understanding the fees is key in keeping them at a minimum.
To answer the question on TD's 'fees':
Checking account fee: The student account is free. There is no fee for the actual account. The 12.95 fee that the person who started this post is on the INFINITY checking account, which allows unlimited transactions. You should change to the free student account.
Withdrawal Fees: The student checkings account has allows 25 transaction per month. Thats like an average of 1 transaction per day. Meaning that if you use your debit card to see a movie, and buy coffee, thats counted as 2 transactions. Internal transfers, such as TD visa payments, etc don't count as transactions. After the allotted 25 transactions, you get charged 65 cents for each one over.
Other Banks Fees: This is the fee that kills people because they don't know where it comes from. If you pull out money from an ATM thats not TD, u get charged 1.25-2.00 depending on which ATM you pull money out of right off the bat, and then at the end of the month, TD charges you 1.50 for the withdrawal. This fee covers interac network fees. All banks charge you this fee. So, in reality, if you pull out 20$ from an ATM, it really costs you 3.00 to pull it out. To Avoid these 'other bank fees' just you your debit card, or keep the withdrawals from other ATMs at a minimum.
other fee's include: (you shouldn't get charged these unless you really fuck up)
NSF Fee: If you write a bad check, and it bounces, you get charged $42.50. If you have pre-authorized debits (fitness clubs, insurance, car payments, mortgage payments, automatic transfers), and if you don't have enough money in your account when the transaction goes through, the NSF fee is $5 or $42.50 depending on what kind of transaction it is.
ODP or PODP Fee If you have overdraft protection on your account, you either pay 3.00 a month to have this feature, or you pay 5.00 for everytime you go negative. You can change the payment option depending on how often you go negative. My recommendation for this one is, GET RID OF OVERDRAFT unless you write alot of cheques. Attached with this fee is
ODP Interest Overdraft protection is a credit product. The interest on this one is 21%.. higher than an credit card interests. If you're constantly negative, ZERO OUT YOUR ACCOUNT AS SOON AS POSSIBLE and get rid of the overdraft.
If you guys have any further questions, or need help choosing/changing your checkings accounts, msg me or you guys can come see me on days I work to work out a better plan. I'm working at the west broadway and waterloo branch. No one should be paying fee's they shouldn't be paying, and one of my goals is to prevent clients from paying more than they have to
Unless you have 1million+ in assets with TD, and you threaten to leave, chances are TD won't give a shit. I've heard of 'low value clients' with banks who are a liability, getting cut from banks.
Also, don't use this threat to the tellers, cause they'll just think you're an idiot, and probably talk shit about you in the staff room.
Henderson and Davison (I think) is the company that charged you for cheques, and debited your account, not the actual bank. Banks use third party firms for cheques.
How is TD offering anything better than those?
Right now im thinking pc or coast capital but I need more than 25 transactions, plus the debit card needs to work in the US.
Yeah, you can sign up for PC Financial at any SuperStore. Most people seem to think that there's a lack of banking machines to use if you're with PC Financial, but you can withdraw and deposit at any CIBC bank machine, as well as PC Financial machines, and it's all free. No extra fees to use CIBC machines.