Canadian BANK ACCOUNTS

Recently, I have been looking to switch banks; the focus on no-fee banking with no international banking fees. The selection in Vancouver, Canada is quite slim so here is a basic comparison of chequing accounts.

ScotiaBank

Package $3.95/month for 12 transactions  – fee waived if $1000 in chq

International fee: $5

CIBC

Package $3.90/ month for 10 transactions – fee waived if $1000 in chq

International fee: $5 +2.5% comission

RBC

Package $4/month for 15 transactions

International fee: $5

BMO

Package $4/month for 10 transactions – fee waived if $1000 in chq

With Premium Plan, 5 Int’l number of debit transactions using cirrus, and 5 using Masestro services for free. – requires $5000 in chq account to waive $25/month fee.

 

TD

Package $4/month for 10 transactions

International fee $5

or

Package $25/ month (waived if have $5000 in chq) unlimited withdrawals in Plus network.

Coast Capital

Package: free

International fee $4

or

Package $19/month with 8 free international transactions (waived if have $5000 chq)

con: not 24h service

Vancity

Package: $4 for 12 transactions  (waive if min bal $1000)

International fee: $3

PC Financial

Package: Free

International fee: ?

ING

Package: Free

International fee: $2

HSBC

Package:$4 for 10 transactions

International fee: $3

 

Having compared them, I am inclined to choose ING for my chequing and keep my savings account in my current bank.I think what will happen is that I will end up getting the ING savings as well since I do 99% of my banking online.

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