Scotia's money master is one of the best accounts that I have come across. It is an internet account only.

They have a power checking account in which if you keep a minimum balance of $2,000, there are no charges for any transactions.

If you have both a checking account and Money master, and if you keep a minimum balance of $10,000 in money master, it not only earns 2.4% interest from the first dollar, but also there is no need to keep any minimum balance in the checking account.

I therefore keep my money in money master and whenever I draw a check, I transfer the same amount from money master to checking account, therefore I earn maximum interest on my balance and still not pay a cent on my transactions.

This accounts is offered both for personal and business use.

You can find banks offering higher rates (ING bank for US$, President's choice and Altamira for C$ savings - but since they do not have any full banking branches, one should keep ONLY the extra money that one wants good returns on.

And in this country, one should definitely have a personal banker to deal with if he keeps anything more than 20,000 in the bank. When you have that, you will ALWAYS GET HIGHER THAN THE POSTED RATE on your deposits. Only thing is , you will have to deal with that particular person and branch - the other branch of the same bank will not accord similar benefits to you unless the personal banker puts a few good remarks in your computer file (yes they can do that and then all branches will give you that treatment!)

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Chandresh

Advice is free – lessons I charge for!!