I am writing this blog, partly to share some money-saving tips. For years, I’ve been sick of the big banks charging monthly fees, transaction fees, ATM fees and an arm and a leg for a cheque book. Recently, I took the plunge and opened an account with President’s Choice and found it to be a very good deal.
I had to go to the local Loblaws store to open the account and they sent me a free chequebook in the mail in a few weeks. So far, I haven’t paid a single penny in bank fees. There is no fees for using the debit card in stores, no fees for internet banking or paying bills and no ATM charges if you withdraw from CIBC or PC machines. They even give me PC Points for paying bills over the internet.
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5 responses so far ↓
1 Big Cajun Man // Apr 21, 2005 at 2:34 pm
Another capital commentary! I said the same thing in my BLOG, do you think people are going to listen? I hope so!
http://canajunfinances.blogspot.com/2005/04/vultures.html
2 Steve // May 15, 2008 at 12:26 pm
I switched to President’s Choice Financial years ago. I was a bit leery of banking with a grocery brand, but figured if after 6 months I didn’t like it, I’d stay with CIBC. Ha! I never looked back and have spent the last 9+ years trying to convince everyone I know to switch. Most don’t. The most common excuse? Oh, but it’s such a pain to switch. I always say, “I guess you’ve got enough money then”. For maybe 1-2 hours of your time, you can save easily, $500 per year as a couple by switching. I’ve even had people accuse me of drumming of some secret commissions for myself! HA! I do not work for PC, CIBC or even Loblaw. I just hate to see people pay for nothing! Oh well, I guess my experience shows most people have more money than they have brains.
3 Canadian Capitalist // May 15, 2008 at 1:44 pm
Steve: I am very happy with the PC Financial account. In over three years now, I haven’t paid a penny in fees. It’s one of the best banking deals out there.
4 Smart Cookie // Jul 16, 2008 at 9:13 am
We have been with the Cookie Bank (President’s Choice) since they started up years ago. We have our credit cards and mortgage with them. It was with great satisfaction that I left The Royal all those years ago. Banks use our money to make money and then charge us for the priveledge. The nerve. Forget that noise. Who can resist the amazing rates, lack of fees, and free groceries. Points from our debit and credit cards cover our Thanksgiving and Christmas dinner and then some. The down side is there’s no teller to take in my loose change. No biggie.
5 Bryce // Jul 16, 2008 at 9:39 am
Don’t worry Smart Cookie, PC has your back on the small change as well. I just take a pocketful of change and shove it into one of their self checkouts. It’s one of my favorite things about self checkouts.
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