No-Fee Bank Accounts

December 7, 2004


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.

High Interest Savings Accounts

December 6, 2004


There is a bit more welcome competition for your savings accounts. For years, ING Direct has been offering a savings account that offers a very good interest rate with no fees. Now, ICICI Bank, a large Indian bank is also offering CDIC-insured high interest savings accounts. Set up an account with any of the following banks and start saving money:
ING Direct: 2.40%
American Express: 2.40%
ICICI Bank: 2.75%