Probably no deal?
It is true, much better than all the CIBC accounts...not even close actually.
Jun 15th, 2017 9:14 am
Jun 15th, 2017 10:06 am
Jun 15th, 2017 12:11 pm
Jun 15th, 2017 12:52 pm
Of course you do. Banking and credit cards are 2 separate things.jacobe wrote: ↑Jun 15th, 2017 12:11 pmIf I closed my CIBC bank account, do I still keep my 2 CIBC credit cards ?
I am looking to get a mortgage around this time next year and don't want to mess around with my credit score. How much of an impact to your credit score when you open a new bank account?
Jun 15th, 2017 2:43 pm
Jun 15th, 2017 3:06 pm
Jun 15th, 2017 9:33 pm
Why is it "pure greed"?
Jun 15th, 2017 11:22 pm
Jun 15th, 2017 11:29 pm
LOL - how much interest does BMO savings pay you? EQ Bank pays 2.3%integra123 wrote: ↑Jun 15th, 2017 2:43 pmBuh-bye CIBC bank!
I just closed my Everyday chequing account at CIBC because of elimination of the monthly fee waiver. It no longer makes sense to hold this account and get charged $50 per year for nothing. They paid me out in cash and I walked down the street and deposited the funds into my BMO savings account, where they pay me interest!
I'll be buying a nice steak dinner every year with the savings.
Jun 16th, 2017 8:43 am
Jun 16th, 2017 9:13 am
I'm not sure this argument works regarding banks with steadily increasing net incomes in the billions, but anyway... I think your assumption that they need fees to make up for deposits of "little value" is inaccurate. $3.90 equates to only 2.34% of $2000 annually, and they could easily do better than that. I think the real reason for the change is to deliberately make the Everyday Chequing less attractive and push people into switching to the Smart account. They literally advertise the Smart account on the same page that announces this change in the brochure.TrevorK wrote: ↑Jun 15th, 2017 9:33 pmWhy is it "pure greed"?
They are offering you a service that costs them money. All you were doing is giving them a small deposit that has little value to them.
Greed would seem to be the customer expecting everything for free and having other customers subsidize their banking.
Jun 16th, 2017 9:24 am
+1, can't get more obvious that that: " Want a CIBC Smart Account? Talk to a CIBC advisor to make the switch today! "
Jun 16th, 2017 9:44 am
I don't work at CIBC, but if that's what appears on client-facing document, you can imagine that employee-facing documents must say stuff like "What a great opportunity to upsell!"
Jun 16th, 2017 10:25 am
Jun 16th, 2017 10:27 am