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Thread: Best no-fee bank account?

  1. #1
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    Default Best no-fee bank account?

    I know this has been discussed somewhat before but the threads I see are all somewhat dated and I believe current offerings have changed in that time....

    I am currently with PC financial, who has done something that has pissed me off for what I would like to be the last time and I no longer trust them with my money so I would like to move it somewhere else.

    Here is what is important to me:
    No fee bank account for a reasonable number of debit / interac transactions (unlimited would be nice but I only use about 20 a month)
    Free cheques (although I have used less than 20 in the past 10 years so this isn't super important)
    Good online banking - easy bill payments, including scheduled bill payments, and easy viewing of long term history
    No surprise fees

    It would be nice if it was from an institution that I could also move my unsecured LoC to as well.

    It would also be nice if they offered 2-3 separate savings accounts as we have several automated deposits coming in each month and I like to let the money pool up separately, although again, this isn't a huge deal to me.

    Previously I banked with First Calgary, but this was ages ago and the only no-fees account they had was a student account (which I was at the time) and their online banking was crap. I have seen a bunch of commercials for their new no fees account but I don't expect them to come right out and list the shortcomings, so, does anybody on here have this account? What's the catch?

    If not them, who offers the best bank account for me?
    Originally posted by Vagabond142
    Is the best game. Ever. In everness. It is more awesome than a robot caveman punching God in the dick. It is that awesome

  2. #2
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    TD Select Service, but minimum $5k balance required at all times to waive fees

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    I think first calgary financial has a new no fee account, you should check them out

    if you can keep 5k at td, the select service account is awesome

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    I have a no fee account at First Calgary, happy with it so far, no minimum balance to keep either.

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    Default

    PC Financial

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    Originally posted by max_boost
    PC Financial


    Re-read the OP

    Originally posted by Zero102

    I am currently with PC financial, who has done something that has pissed me off for what I would like to be the last time and I no longer trust them with my money so I would like to move it somewhere else.
    Details? Just curious what they've done, as I've considered going to them a few times.

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    Damn. Totally missed it.

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    Another recommendation for TD Select Service Account -> 5K balance negates all fees and it comes loaded with free services and other products

    http://www.tdcanadatrust.com/product...nts/select.jsp

    •Unlimited transactions
    •Deposits are free
    •Annual fee waived on a Premium TD Credit Card
    (a value of up to $170)
    •Free small Safety Deposit Box (subject to availability, a value of $60.00 annually)
    •Free Paperless or monthly statement Record Keeping option
    •Free certified cheques (a value of $10.00 per cheque)
    •Order your Free personal cheques online through EasyWeb; any style, including premium (a value of up to $53)
    •No-fee Canadian and U.S. Dollar drafts
    •No commission fee for Canadian and U.S. traveler's cheques
    •No TD or network fee for non-TD ATM use anywhere in world (Interac network in Canada; Plus network outside of Canada3)
    •Free Borderless Plan with a U.S. Dollar Account (a value of US $4.95 / month)
    •TD U.S. Dollar Visa Card with annual fee waived4 (a US$39 value)
    •Preferred foreign exchange rates
    •No commission fee for regular U.S. Dollar Travelers' Cheques
    •No-fee U.S. Dollar drafts
    •$25 off the annual fee on your Self-Directed RSP/RIF with TD Waterhouse Discount Brokerage
    •1/4% interest bonus on 1-5 Year Guaranteed Investment Certificates
    Last edited by Sugarphreak; 06-07-2012 at 10:44 AM.
    Quote Originally Posted by Gestalt View Post
    abso fucking lootely

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    TD Select Service sounds pretty sweet... I don't quite have a 5K minimum balance in my account but I am trying to get there and then some as I would like to have a 6-months living allowance rainy day fund.

    So far it sounds like First Calgary has the best account for me right now.

    As for what they did, there has been about 12 years of occasional screw-ups on their part, things like:

    Not properly updating my address when I called in to change it so I would receive cheques at my new address with my old one printed on them (in a different province, a bit of an issue...), then screwing it up 5 more times until finally I have a mountain of cheque books with the wrong address and I stopped caring any more

    Charging my NSF fees when I had the money in my account and available

    Outright rude and deliberately unhelpful staff when I call in

    Today's screw up is yet another completely unjustified $45 charge that I had to call in and argue with them again to have them reverse and I've had enough of catching their mistakes. Especially when they had no right to charge me $45 in the first place, then get mad at ME when I don't accept them telling me that crediting me 22,500 PC points counts as "meeting me half-way" and that I should be happy to get that much. I don't give a fuck about their PC points, they took $45 of my money and I expect all of it back.

    I stuck with them due to a lack of alternatives but I feel like there are much better options right now and this thread is confirming that. Thanks for the advice
    Originally posted by Vagabond142
    Is the best game. Ever. In everness. It is more awesome than a robot caveman punching God in the dick. It is that awesome

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    Originally posted by Sugarphreak
    Another recommendation for TD Select Service Account -> 5K balance negates all fees and it comes loaded with free services and other products

    http://www.tdcanadatrust.com/product...nts/select.jsp

    edit: i am so dumb, i am so dumb
    That account sounds pretty great. $5k in savings seems like a good chunk but those features are awesome.

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    only bad thing about First Calgary is the limited number of Branches/ATM's... With PC atleast you can use any CIBC..

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    •No TD or network fee for non-TD ATM use anywhere in world (Interac network in Canada; Plus network outside of Canada3)

    What does this mean? Dont they charge you a fee on top pf your withdrawl amount? ie 20 + 1.75 so 21.75??

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    It won't be always no fee but because I set up a new account at rbc at there new branch walden Gate they waved all my bank fees for 6months. After that there basic account is 4$ a month and it can be waived or reduced with additional products from rbc like a credit card or mortgage.

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    Originally posted by OU812
    •No TD or network fee for non-TD ATM use anywhere in world (Interac network in Canada; Plus network outside of Canada3)

    What does this mean? Dont they charge you a fee on top pf your withdrawl amount? ie 20 + 1.75 so 21.75??

    That extra fee you get at the ATM is the charge from the ATM itself. Most banks charge you a seperate $1.50 at the end of the month every time you use one of these machines ($3 in North America, $5 outisde north america)

    What the select service waives is the extra month end service charge.

    Great value. Along with all of the other benefits of it.

    It is definetly more cost effective to carry a $5,000 balance in the Select Service account, then $5,000 in any savings account at the moment.

    In theory you could save around $800/year in bank fees (if you use every feature) which is about a "16%" return on your $5,000 investment.
    These opinions are entirely my own and do not represent any other person or organization.

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    There's the TD Infinity account,

    Fees:
    TD Canada Trust

    $14.95/month - waived with a $3,500 minimum monthly balance

    No way near as many benefits as the Select though.

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    Originally posted by Bladeh
    There's the TD Infinity account,

    Fees:
    TD Canada Trust

    $14.95/month - waived with a $3,500 minimum monthly balance

    No way near as many benefits as the Select though.
    This is what i have, not the $3,500 min tho... Didn't know that feature existed actually.... Possibly worth it to transfer monies from savings account

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    I use ING, been three months in and no issues.

  18. #18
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    Originally posted by silvercivicsir
    only bad thing about First Calgary is the limited number of Branches/ATM's... With PC atleast you can use any CIBC..
    You can use their global payment car to withdraw month at any atm that has MC symbol on it

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    Originally posted by CanmoreOrLess
    I use ING, been three months in and no issues.
    +1

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    The bank that has the best pennies and nickels

    RBC is supposedly starting to charge 16 cents per roll at some branches, now that we are in the final stages of copper confiscation.
    "Shall we tax people who buy new shoes and don’t wear them?" - Monika Tu

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