Which bank do you use?

[Vmack]

Now that I'm done school, trying to decide what bank I should go with for my day to day banking services.

I've looked/asked on other forums, everyone really advocates Tangerine and PCF. I have PCF right now and have used Tangerine in the past, nothing against them, but I wonder if its worth getting something at a Big 5 bank and holding the minimum to waive fees or paying whatever per month for it.

[killramos]

RBC :dunno:

[ZenOps]

Presidents choice is underwritten by CIBC.

https://en.wikipedia.org/wiki/President%27s_Choice_Financial

Which means, its basically no frills CIBC without the in person tellers.

[cosmok]

PCF seems decent if you live near a Superstore and are willing to purchase fuel and groceries from there.

[The_Penguin]

Go with a "real" bank. RBC BMO CIBC...

I sold my Jeep GC to a guy who banked with PC.

I said, "get a certified cheque", he said "can't".
"Bank draft?" "Nope".

"I'll write you a cheque, when it clears I'll pick up the Jeep."

Took over 2 weeks.

I'll pay a few $ a month to actually be able to do normal banking things.

[bjstare]

I do almost all my banking through TD, and I'm happy with them. Just keep a minimum balance in your acct and you don't have to pay for anything (free infinite visa, free bank draft, free cheques, etc etc). That and the fact that they're open til 8, and open Saturdays. I don't have to go into the branch much, but you better believe I'm not gonna be happy if I have to take time out of my work day to do it (looking at you RBC).

[killramos]

^ There are like a dozen RBC branches open on Saturdays in the city now :dunno:

[schocker]

I use first calgary, not many locations but that is OK. Can withdraw from servus and I can deposit cheques with the app.

[bjstare]

Originally posted by killramos
^ There are like a dozen RBC branches open on Saturdays in the city now :dunno:

Yeah, just checked there's tons haha. Guess I'm outta the loop.

http://i.imgur.com/XujHL.gif


Having said that, I have an RBC westjet mastercard and they dicked me around with making me pick it up when I actually didn't have to. Guess I'm bitter about that haha.

[Calgaryrocky]

Come to First Calgary!

We have a No Fees For Me account.

honestly just a no strings attached free chequing account for daily banking.

[doomdealer]

Originally posted by The_Penguin

I sold my Jeep GC to a guy who banked with PC.

I said, "get a certified cheque", he said "can't".
"Bank draft?" "Nope".


I bank with PCF myself and your 'guy' had no idea what he's babbling about.

It's definitely possible to get a bank draft from PCF through CIBC. It costs like $25 and takes about 1-3 business days. The process is a pain:

- call up PCF customer support and ask for a bank draft
- they let you specify which CIBC branch to pickup the draft from, but once you choose a branch location, you MUST go to that branch
- they then give you your unique order ID #
- you wait 1-2 days, then proceed to said CIBC branch location
- give them your unique order ID #
- politely decline the standard CIBC pitch to open a bank account there instead of using PCF one
- pickup draft and it's done

I've gone through the above process multiple times now with previous vehicle and home purchases.

For everyday type banking, I love PCF. The hassle of getting bank draft is a turn-off, but it's not like I do that frequently enough to warranty a banking change.

[masoncgy]

I used to bank with TD for years... but I switched to Scotiabank about 10 years ago when TD was hesitant about giving a paltry $5K line of credit whereas Scotiabank handed it over without question. I closed all of my accounts at TD and moved everything over. I've been a happy customer ever since.

[jwslam]

Originally posted by killramos
^ There are like a dozen RBC branches open on Saturdays in the city now :dunno:
Maybe I'm blind... what RBC account is no-fee (even with min balance)? :dunno:

Also, TD is open sundays :poosie:

[eblend]

Originally posted by doomdealer


I bank with PCF myself and your 'guy' had no idea what he's babbling about.


This. I have been with PC since I was 16 or something like that...31 now, and been my main bank for everything. Bought two cars through them. I actually got my bank draft within 2 hours every time I called.

Also, someone mentioned PC for shopping and banking and stuff, no need really. Can go to any CIBC ATM for money, deposits ect. If you use your PC card for fuel at superstore you get 7c off per L. Free cheques too if you need em.

There really isn't anything that I do day to day that PC can't do for me. I also have RRSP with them and TFSA. Holding a minimum balance isn't free banking...you don't get any interest on that amount as it has to be in your chequing for it to cound, which will earn you nothing at all.

[ExtraSlow]

I use RBC, for pretty much everything but the mortgage.
Have credit cards through them, three CAD bank accounts, one USD bank account, LOC, and a couple of investment accounts.

Have been happy with them, would recommend.

[killramos]

Originally posted by jwslam

Maybe I'm blind... what RBC account is no-fee (even with min balance)? :dunno:


Maybe I'm blind, but i never once said they did.

I'm on VIP banking which more than pays for itself based on my annual usage so idgaf

[Squishy]

BMO

[nykz]

I use RBC for my day to day, was with TD as a student but decided to make the switch last year. Still have a TD account open with some cash in a savings account simply for the abundance of TD ATM's everywhere.

[jwslam]

Originally posted by killramos
Maybe I'm blind, but i never once said they did.

I'm on VIP banking which more than pays for itself based on my annual usage so idgaf

Originally posted by Vmack
I wonder if its worth getting something at a Big 5 bank and holding the minimum to waive fees or paying whatever per month for it.
New grad with probably little money. Why are you recommending he pay money to a bank which is going to charge him for the same services he can get for free elsewhere?
(Yes. Total TD advocate here)

[dj_rice]

I has PC Financial for main banking. Been with them since I worked there as a lad, so my accounts been open forever. Been collecting the PC Points since then, got like 290K in points = $290 in groceries. It works for me. Everything is free.


I use RBC Signature No Limit Banking only for my mortgage and RRSP. Probably going to downgrade to a free account since pointless paying $8.95 every month when I don't use. Also have my HELOC with them and a Avion Visa Card. They messed up and signed me up for the card but I never use it and pay the $110/year fee or whatever. Probably going to cancel it.

[Vmack]

so in reading the responses, seems like the majority of people are still using real brick & mortar banks.

I guess its just RFD and money saver forums that are all up and about the online banks.
I'll likely keep my PCF account but I'm gonna take a good look at BMO and TD

[DJ_NAV]

TD all inclusive is great. no fees with $5k balance. free cheques, drafts, small deposit box etc and awesome hours with many locations close to me. The only fee I've paid is the odd Email transfer fee few times a year.

[btimbit]

Originally posted by Vmack
so in reading the responses, seems like the majority of people are still using real brick & mortar banks.

I was with Tangerine for a while and while I didn't mind it, waiting a week for a bank draft to come in the mail sucked. Ended up going back to TD simply because they're seemingly always open. I also really enjoyed First Calgary

[muse017]

BMO - typical personal banking(saving, cc, rrsp, tfsa, mortgage) and business account

HSBC/National Bank/Scotia - travel/rainy day savings

ATB - Business loan + business chequing account

No monthly fee, and No annual fee for World elite M/C with $5,000 in chequing account.

[reijo]

I have found poor service at TD (been with them for decades and I am still sh*t to them ... poor, poor customer service since the final word comes from f'ing T.O.). I still have a business and personal account there ... and this is going to change ... will not go there ever again.

In fact, very poor at CIBC and BMO previously as well ...

In the US I had good service at Wells Fargo but I have moved back here ... and back to sh*tty service at the banks here ...

Many years ago I had an account with Royal Trust (I think Royal BC bought them out eventually) and loved them ... but had to change to TD for the student loan ... ugh.

I'm thinking Calgary First or some trust co. now ... but keep hearing horror stories from there too ...

Canadian banking sucks it appears. :(

R

[The_Penguin]

Originally posted by doomdealer


I bank with PCF myself and your 'guy' had no idea what he's babbling about.

It's definitely possible to get a bank draft from PCF through CIBC. It costs like $25 and takes about 1-3 business days. The process is a pain:

Hmm guess if he was too cheap to use a real bank, he was probably too cheap to spend $25.00 to get a draft. Or maybe he didn't want to jump through the hoops. I'd probably say no too.

[NoPulp]

Am I only only one that uses Scotia?


Free movies are alright.

[guessboi]

Mainly RBC for day to day stuff
Tangerine for savings / higher interest stuff

[killramos]

Originally posted by NoPulp
Am I only only one that uses Scotia?


Free movies are alright.

My wife uses Scotia, they are a joke to deal with on any serious matters. Without going into to much detail they are completely incompetent at every turn and do everything they can to try and screw her. Once she finalizes her name change paperwork etc. I will be getting her out of there ASAP.

[jwslam]

Originally posted by reijo
I have found poor service at TD (been with them for decades and I am still sh*t to them ... poor, poor customer service since the final word comes from f'ing T.O.). I still have a business and personal account there ... and this is going to change ... will not go there ever again.

In fact, very poor at CIBC and BMO previously as well ...

In the US I had good service at Wells Fargo but I have moved back here ... and back to sh*tty service at the banks here ...

Many years ago I had an account with Royal Trust (I think Royal BC bought them out eventually) and loved them ... but had to change to TD for the student loan ... ugh.

I'm thinking Calgary First or some trust co. now ... but keep hearing horror stories from there too ...

Canadian banking sucks it appears. :(

R

http://assets.diylol.com/hfs/d04/cd9/426/resized/taylor-swift-s-man-hater-club-meme-generator-goes-through-a-lot-of-boyfriends-but-it-s-their-fault-seems-legit-4ffce0.jpg

[Cos]

.

[dirtsniffer]

Originally posted by DJ_NAV
TD all inclusive is great. no fees with $5k balance. free cheques, drafts, small deposit box etc and awesome hours with many locations close to me. The only fee I've paid is the odd Email transfer fee few times a year.

:werd: Also you get the fee wave on the aeroplan infinite card and a bonus 25,000 aeroplan when you sign up and charge 1k to the card within the first 90 days

[schurchill39]

Bump from the dead. I've been with TD for years now but they have the worst customer service I've ever encountered. I have RRSP over at RBC, a credit card at BMO, and my wife deals with CIBC and we've never had issues with them like we do with TD. The final nail in the coffin was when they increased my personal LOC's interest rate to "serve me better". When I asked about what extra services I get for that, or if there was a change in my credit rating to cause an increased rate they couldn't answer. Instead they tried to convert it into a lower interest loan.

I'm thinking about moving my personal account, my business account, and a joint account over to RBC but was wondering who everyone is still banking with and what they like about them?

[TomcoPDR]

Still with TD, with them 21 years 1996 ish customer. Had a mixture of banks during my 14-21 year old stage having TD, CIBC, HSBC, BMO accounts. TD came out on top for me, they also have the most easily accessible branches through out Canada I've notice, with longest hours.

[killramos]

Anything but Scotiabank. Useless fucks.

RBC is still top notch in my books, across the board.

[Star1995]

Originally posted by The_Penguin
Go with a "real" bank. RBC BMO CIBC...

I sold my Jeep GC to a guy who banked with PC.

I said, "get a certified cheque", he said "can't".
"Bank draft?" "Nope".

"I'll write you a cheque, when it clears I'll pick up the Jeep."

Took over 2 weeks.

I'll pay a few $ a month to actually be able to do normal banking things.

Strange... I'm with PCF and went to a CIBC branch, they gave me a certified check for the PCF account and they didn't charge me the $10 fee.

This was a problem with the person and not the bank.

Anyway, go with one of the top 5 if you like giving money away. By my calculations I've saved well over $3000 since I've been with PCF. I joined about two months after they started.

[ExtraSlow]

Been really happy with RBC.

[ickyflex]

Originally posted by Star1995


Strange... I'm with PCF and went to a CIBC branch, they gave me a certified check for the PCF account and they didn't charge me the $10 fee.

This was a problem with the person and not the bank.

Anyway, go with one of the top 5 if you like giving money away. By my calculations I've saved well over $3000 since I've been with PCF. I joined about two months after they started.

Explain to me how you saved $3,000

[dj_rice]

Originally posted by ickyflex


Explain to me how you saved $3,000


I'm not sure how much I've saved but I've accumulated $800 in PC Points just from buying groceries/gas fill ups.

[Disoblige]

PC points is badass, and I like shopping at No Frills too hahaha.
I could totally see how being with PCF could save you even more money as it's more points towards groceries.

Now if they can give you PC points at T&T now too.

[dj_rice]

Originally posted by Disoblige
PC points is badass, and I like shopping at No Frills too hahaha.
I could totally see how being with PCF could save you even more money as it's more points towards groceries.

Now if they can give you PC points at T&T now too.


If you have a PC Mastercard, you get PC points anywhere you spend that is Loblaws I believe. Even Shoppers Drug Mart nets you PC Points now.


I had $480 in points last year and then I got the PCF World Elite card and collecting 30 points/$1 spent now.

[jacky4566]

TD here. No problems Maybe its because im in a small town but they rarely push the sales bullshit and the tellers always understand when you say no.

Everyday Chequing Account, Small LOC, Student loan, and a TD Aeroplan Visa.

[sabad66]

Originally posted by dj_rice



If you have a PC Mastercard, you get PC points anywhere you spend that is Loblaws I believe. Even Shoppers Drug Mart nets you PC Points now.


I had $480 in points last year and then I got the PCF World Elite card and collecting 30 points/$1 spent now.
the 30 points/$1 is only at their stores/shoppers (3% cashback)

everywhere else it's 10 points which is equivalent to 1% cashback

[A790]

TD for personal, Scotia for personal/business.

Both are a pain in the ass.

[Star1995]

Originally posted by ickyflex


Explain to me how you saved $3,000

Prior to PCF I was paying about $7-$10 in bank fees per month, so that in itself is about $850, I had a mortgage with them for the first five years, equal interest rate as the other banks plus I received $250/ year average . $1250 for the mortgage. I pay all my bills using my PCF MasterCard, points and according to my statement to date I've earned $1670. I'm not Asian so I had my wife do the math and she tells me it is about $3770.

To date I've paid a few bucks for pulling money out of a non CIBC bank machine, e-mail money to my daughter and other misc. stuff.

If I ran a business then I might consider a different bank.

Note;
The mortgage rates were different in the beginning, now they have different rates if you want the PC points, when I got my mortgage there was no difference.
The bank account comes with unlimited debit use, no minimum balance, free cheques.
In the beginning I calculated a difference of nine times in favor of PC points vs Air Miles. Not sure what it is today.
Interest rates are not that high but you should consider the fact that not paying the bank money and them giving you money does have a cost or savings.

[FraserB]

TD for daily stuff.

No monthly fees, yearly fee for Visa waived, free cheques etc... Probably about $400 worth of points from the card.

Mortgage is with a CU that pays me a profit share every year, RRSPs and investments are with a financial management company.

[colinderksen]

HSBC fully free banking.

[Strider]

TD All-inclusive for everyday banking, have had no issues with service, great hours and branch availability.

National Bank Engineers' Package for mortgage and HELOC - if you want a complete mindfuck of a banking experience, give these guys a shot.

[carson blocks]

Originally posted by killramos


My wife uses Scotia, they are a joke to deal with on any serious matters. Without going into to much detail they are completely incompetent at every turn

20+ year Scotia customer here, can confirm they are completely useless. Trying to do business accounts with them is even worse. Between my personal accounts, business, and mortgages, I've got ~15 Scotia accounts and they're going to lose 90% of them. I think I'll give ATB a shot for some of my accounts and see how they do.

[A790]

Have three business accounts and a business CC with Scotia, as well as a personal chequing, a mortgage, HELOC, and LOC.

Tried to add my bookkeeper (and wife) to my business accounts to be able to phone in to chat. First CSR said it was possible if I gave written permission. Second CSR that it's impossible and I have to make her a signing authority.

Then I tried to get clarity regarding some charges on my business chequing account, and the CSR said I need to make an appointment with my small business advisor to discuss any charges and that I can't do it over the phone.

Just about ready to walk away from Scotia.

Incompetent is right.

[ae92gts]

I've used RBC, TD and BMO.

RBC hours and customer service is the main reason I switched to TD. It was a very short time before I realized that TD really didn't give a shit about their new customers and were constantly trying to up sell everything, so I left. BMO ive been with for 8 years, by far the best bank I've ever had to deal with. I even moved my Investments to BMO Nesbitt.

[killramos]

Yea I pulled all of my wife's stuff out of Scotia last tax season when they were incapable of providing even the most basic level of information on my wife's accounts for back taxes. Like deleting records of accounts which was their own screw up and then trying to charge me a 50 dollar per page document retrieval fee. They couldn't even find stuff from the past year. Somehow RBC manages to let me view every transaction I have made with them across a number of accounts since I started with them when I was 14. Online.

I had a "business" bank account with Scotia when I ran a school team in university as well. Like pulling teeth to even get in and see them.

Added her on one of my extra VIP accounts with RBC and between that and an esavings it takes care of all of her more formal banking needs at no additional cost to me.

No way I can bank with someone that I can't count on when shit hits the fan. RBC has always been good in that regard.

She can suck up paying for cineplex movies again :rofl:

[C_Dave45]

Switched from BMO to RBC about 8 years ago for all my banking needs. Business and personal. No issues. Never a need to step inside a B&M branch, everything done online.
Real handy having everything together. Also a $10,000 limit for EMT's so I do all my payroll online. I don't think I even have any checks anymore.

[tonytiger55]

I bank with TD. I used to work there so I know the products. The banks do not help you. I spent a bit of my time there undoing bullishit investments other colleagues had done and actually helping customers. It gave me a insight of how to use the banks.
I looked at moving but keeping minimum balance helps and I have some accounts shared for emergencies. So was not worth moving.

[zhao]

I use CIBC for my primary. we have a ATB and PC account for alternatives.

I've been with CIBC for probably 6 years now, and no complaints yet. I'm not loyal to them, but I ended up having my mortgage on my primary home through them because they were the most aggressive for getting my business, and I just renewed with them on it as well. I also use them for my RRSPs and TSFAs for trading through their investors edge company. 25k balance and its free of annual service fees, plus its 6.95 a trade no matter how low your balance is, which isn't bad. They have a million CC's to choose from, I just went with a high points one with high interest because I dont carry a balance. I do not remember them having a low interest CC though. If you carry a balance they waive fees too on your bank account (I use their crappiest account for 3.50 a month in fees, which get waived if I keep a balance of 2g or something?)

People at the branches are so hit or miss though. It seems the big branches have solid staff who know WTF they are doing, but the little remote locations have these fuck offs that dont even understand how a mortgage works (tried getting a rough preapproved amount at a branch by my work and the lady was like ok go make an offer and then bring that to me with the address and I'll see if you qualify....)




RBC i was with for 25 years, and that bank is shit.

Would you like to investigated for money laundering because you do business overseas? Bank with RBC.

Would you like to be lied to by your home bank manager who all of a sudden refuses to do something you've been having them do forever and claims they never were allowed to do that and never would have done it.... and then walk into another random branch 15 minutes later and have them do it no problem? RBC is the bank for you.

Speaking to the above, they would literally suck your dick if you had a good balance. put 25 or 50k in your account and watch the branch manager walk by to see if there is anything else they can do for you. Run no balance and watch them treat you like a black guy at a KKK rally.

They were always the last bank to get on board with the modern world too. The guy in this thread saying they aren't open late.... well ya, they might be now, but he was pretty accurate for how RBC was not very long ago. I remember when TD had banking hours until 8pm, and then all the other banks started getting on board, well, RBC was still shut at 4pm every day, and I remember RBC being closed during lunch hours at one time not that long ago.

The one thing I liked about RBC is they did have a CC that was 10% interest. That was good for me at the time as I often carried a balance. I see right now they do 11.99 at lowest and its only $20 for an annual fee, but that's still lower than CIBC's.


ATB I find is pretty meh. Nothing about them has impressed me so far and we've had a few problems with them. The saddest one is their people can't do simple math and do not understand how math on mortgages work. A property I flipped I had a mortgage with them that only lasted 3 months because there was no fees to cancel. They took an extra payment and were arguing that the math was correct. It was mindnumbingly obvious that they made a mistake, but everyone who looked it over said no, it's all correct, no extra payment taken (over 5 people, escalated more than once)...... until a branch manager looked it over and in literally 10 seconds or less said, this doesn't add up, we did take an extra payment. It took about a month to get that sorted out, and then about 6 weeks to get the money back.

[Twin_Cam_Turbo]

RBC for personal/business. Will be moving everything away from them as soon as my mortgage is up for renewal as when my mortgage started I gave them two months heads up for the possession date which I had documented in multiple places and ways and they were three days late forwarding the money, builder charged me $1000 in interest and they refused to accept fault and cover it.

[C_Dave45]

Banks are just like mechanics, dentists, ISP's, cable providers, cel providers, hairstylists, etc, etc, etc.

Everyone has a favorite, everyone has a horror story, and everyone has an experience of how theirs is the best. The fact is, there is no one that is better than another.
Same shit different pile.

[bigbadboss101]

TD for personal and business accounts. Also have RRSP, TFSA, RESP and trading accounts with them. Also have the Infinite Visa.

RBC is my original bank and I have a few dollars there only. Have the AVION card but should probably cancel since I mainly use the Scotia Momentum card.

Scotiabank as I had our mortgage there. Mortgage is now with someone else. I use their Visa card majority of the time as we put almost everything on it.

[zhao]

Originally posted by C_Dave45
The fact is, there is no one that is better than another.
Same shit different pile.

There is, but it depends on what the person is looking for in a bank, because they're all shitty and great in different ways. Find the one that their shit doesn't bother you and the good things about them work for you.

[Xtrema]

Active TD and RBC customer.

Hated CIBC/Scotiabank in the past.

CC is PCF. No hassle claim is the main reason. It's not hard to spend it on food and crap.

[tehwegz]

Tangerine for a TFSA and a chequeing account, racking up double interest for the first 6 months so that's cool. I plan to really utilize my TFSA. All online, easy to use app.

ATB Financial for personal. I'm not quite sure why I'm even with this bank anymore, it's been over 12 years now and want to try something new. May just move everything to Tangerine.

CC is Scotia Scene card, free movies for the last two years especially since I used it to pay two $7k car downpayments (one was mine, one a friend who didn't have points to collect so paid with my CC and then cut me a cheque as long as I took them to movies lol) which I was surprised, as I was sure I read somewhere they cap you at 300 points per day maximum. 14 free movies just for using the card twice. Plus the 5 free ones I got when I signed up for the card. Points have run dry though, might ditch it for something with better reward points (e.g. for travel).

[yellowsnow]

TD for personal, leave $5k just like everyone else here for free banking. all my investments are with td waterhouse self directed

RBC for business. RBC's business e-account is great, no fees/min balance as long as everything you do is electronic (no cheques, cash deposits, etc). perfect for my kind of business

haven't paid a single fee for banking for years

[oilerfan4lyfe]

I'm with ATB and Tangerine. I'll never deal with anyone other than ATB for daily banking for as long as I'm in Alberta. I have an MBNA World Elite CC.

RBC wouldn't give me full funding prior to school so I hold that against them. TD gave me full funding but they were incredibly frustrating to deal with. They kept freezing my student LOC even though I would send them proof of enrollments annually. They wouldn't even warn me, just freeze it and let me find out when I need money and can't access it.

Scotia is happy to give me a $150k LOC without an issue, but apparently I have too much student debt to have one of their high end credit cards even though I've never missed a payment on anything in my life. Applying for a Tangerine credit card is the same crap. They pissed me off so much that I'll eventually close all of my Tangerine accounts now that Scotia owns them.

As mentioned above, people will tell you positives and negatives about every bank. Find one or two that work for you and if anyone pisses you off just don't give them your business.

[macman64]

EQ bank for my savings. TD for chequing. MBNA for CC. Questrade for investments (both RRSP and TFSA).