Is it Me or is Coast Capital Savings Going Down Hill?
I been with Coast Capital Savings for at least 3-4 years now, I switched from BMO as my student bank account was expiring and I was going to be forced to pay $4 to $8 a month, while making a penny a month on interest....when I asked the BMO teller if there was anything to do to get a no fee account she told me to leave, so I did.
I found Coast Capital Savings as they constantly spout "no fees" and gave good interest. To me it seems in the last year they are increasing their fees on everything (cheques seem to go up every year and such) and now I noticed on April 1st they are making changes to their "No Fee Saving Account"
[QUOTE]The High-interest, No-fee Savings Account™
This account now includes 10 free debit transactions every month and additional transactions will incur fees. The account will be renamed accordingly.[/QUOTE]
They are going from unlimited transactions down to 10 transactions a month and are charging $1/ transaction....that is crazy. At first I thought this only applied to interact purchases but then I see the "2" by it and followed that down
[QUOTE] Transactions include Coast Capital Savings® and THE EXCHANGE® Network ATM withdrawals, Interac Direct Payment, preauthorized payments, in-branch bill payments, in-branch transfers, and in-branch withdrawals and electronic transfers (Coast Capital Savings® ATM and Coast-by-Phone®, Coast Mobile Banking® and Coast Online®).[/QUOTE]
If I am understanding this right, pretty much anything you do, if you doing something at your local branch, or through the teller will be considered a transaction.....
I am happy I pay everything through Credit Card and barely use Cash, but I am not even sure if paying my bills will be a considered a transaction and will be dinged for that as well. I also shuffle my money from my accounts along(ie for my td e-series I have it hooked up to my checking account so I transfer every week $100 from savings to checking for this).
Will I get dinged for that as well?
https://www.coastcapitalsavings.com/Per ... 0228125408