banks charge for account

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Pramod Chopra   
Member since: Sep 03
Posts: 1284
Location: Pickering, ON

Post ID: #PID Posted on: 08-10-04 11:43:46

Orginally posted by crenshaw

Orginally posted by Pramod Chopra

If some one is comfortable with telebanking, then President's Choice is really an edxcellent choice. There are no charges whatsoeaver for any number of transactions, no requirement of a minimum balance, NO CHARGES even for cheque books (all other banks generally charge you for the same) and you get interest on your balance as well of anywhere between 2% - 2.5% in comparison to either nil or 0.25% from the big banks. What is more, that you get 'free PC points' for buying grocery and other stuff.


Yeah I've heard PC is pretty good, what about ABM withdrawals though, what kind of facilities do they have?

Another alternative is ING Direct, which does not have charges again, but allows a limited number of ABM cash withdrawals without charges through certain partner banks.....

Hi Cren,

President's Choice client's use all of CIBC's ATM machines and there is no charges as PC has arrangement with CIBC (could be one of their subsidiary but I am not 100% sure) through AMICUS Bank in which again CIBC might have a stake. However, the main point is that there are no charges to PC customers for using CIBC ATM machines.

I have been a satisfied client of PC for the last more than 3 years, never paid a cent for any banking charges, earned interest in hundreds of dollars, got free cheque books and earned more than $300 in free Grocery through PC POINTS.

You do not get this with ING DIRECT as you still have to maintain account with other bank to facilitate transfer between the two. And yes, they do not give you cheque book ( at least that was the case 2 years ago and I am not aware of the present status as I have not bothered to look once I started using PC)



Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada

Member since: Sep 04
Posts: 914
Location: Toronto

Post ID: #PID Posted on: 08-10-04 12:42:35

Hi Pramod

Thanks for the info, PC really does seem good, a pity that they don't promote their products aggressively.........(IMO - as I'd never heard about the features before)

Member since: Dec 03
Posts: 28
Location: ON, Canada

Post ID: #PID Posted on: 09-10-04 02:29:33

PC is american bank trying to create Telebanking concept in canada..does not do well...incurred a good loss last year.

O Canada....

Member since: Mar 04
Posts: 56
Location: Trrrrrrronto

Post ID: #PID Posted on: 09-10-04 19:03:53

To add to Pramod's points -

PC is excellent to have as a "Chequing Account".
One can open an a/c with ING for "Savings Account" as their interest rate is one of the highest in the market. The PC bank account can be linked to the ING a/c for the transactions.

Neither of these 2 banks charge anything for keeping your money.

With PC there r unlimited use of CIBC ATMs, while ING only allows 4 ATM transactions in any - CIBC/TD machine /month.

Member since: Mar 04
Posts: 56
Location: Trrrrrrronto

Post ID: #PID Posted on: 09-10-04 19:08:23

Ohh by the way - One gets $13 for opening an account in ING - if u use my referral - I too obviously get the same amount frm ING !!!:cheers:

Member since: Aug 03
Posts: 446
Location: CaNaDa

Post ID: #PID Posted on: 09-10-04 19:22:21

TD sucks!
They charge $1.50 for using ABM machine. so I pay $1.25 to ABM and $1.50 to TD =$2.75 for widrawing money. so make sure u use only TD green machine....

Special Requests: Please call me after 5:30 because I am self-employed and my employer does not know I am looking for another job

Member since: Apr 04
Posts: 313
Location: 43° 54' N, 78° 6' W

Post ID: #PID Posted on: 10-10-04 15:13:05

PC Financial is the best! No fact you EARN by way of PC points. And it is safe because the AMICUS bank is a saubsidiary of CIBC. Way to go...PC Financial zindabad!!


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