[Merged] I decided to close TD accounts today.
RBC/Simplii is becoming my primary bank now.
Updated : closed TD account and have been for 3 years
Aug 12th, 2018 4:31 am
Aug 12th, 2018 5:02 am
Aug 12th, 2018 5:12 am
Wow! Thank you so much! I thought the promo already ended!? Thank you again!batcave wrote: ↑Good move. Any account that requires a minimum balance is a tax.
I'm switching from Tangerine to Coast Capital. They have a free account and branches too! If you live in BC, there is a $200 new member bonus.
coast-capital-savings-bc-only-free-no-f ... #p29653040
Aug 12th, 2018 5:48 am
Aug 12th, 2018 12:14 pm
Aug 12th, 2018 12:16 pm
Even with all their security glitches? From my POV, there's *no way* I'd make Simplii my primary bank.
Aug 12th, 2018 5:16 pm
Aug 12th, 2018 5:24 pm
I know Simplii hacked in the end of May, but I was former PC financial customer. When I heard when CIBC did takeover PC and re-branded the name and there will be no a branch, I was very worrying. But I was not a part of bleached customers and I had no an issue with them so far. I believe their rate is a bit higher than the big 5 banks and they give me free cheque books.1st timer wrote: ↑ Even with all their security glitches? From my POV, there's *no way* I'd make Simplii my primary bank.
As to your point about having to maintain a minimum balance - that's fair. Plenty of other "free banking" options (like the credit union example somebody already gave). Bear in mind the "take charge money manager" thingy @ Coast Capital.
Aug 12th, 2018 5:43 pm
If you're looking at an online bank, Coast Capital locations shouldn't really factor in. I don't live in Vancouver, but I am there regularly so it is good to have an option. There is no other option with the online banks.KianLake wrote: ↑Aug 12th, 2018 5:24 pmI know Simplii hacked in the end of May, but I was former PC financial customer. When I heard when CIBC did takeover PC and re-branded the name and there will be no a branch, I was very worrying. But I was not a part of bleached customers and I had no an issue with them so far. I believe their rate is a bit higher than the big 5 banks and they give me free cheque books.
This is why I am still with them. I didn’t want to see my money sitting down in a minimum balance account.
Recently, I’m interested in getting a credit union. However, the branch is quite far from my home
Aug 12th, 2018 8:37 pm
Aug 12th, 2018 8:47 pm
Aug 13th, 2018 3:36 am
Aug 13th, 2018 3:37 am
Aug 13th, 2018 4:47 am
Aug 13th, 2018 5:06 am
Thank you for your reply! I am not planing on buying a home or getting a mortgage unless I have a good job but I would like to know more about the limitations of an internet bank. Is there something to worry myself? Should I keep a real bank? I have never used a wire transfer in my life... hmm I want to know if you’ve had similar experiences after PC rebranded to Simplii.fogetmylogin wrote: ↑I bank with Simplii as well but with today's rates you aren't losing much if you have to keep $1000 or something to avoid fees. That's maybe $1 a month after taxes?
I have had a few times where PC/Simplii cost me money over a "real" bank. For example buying a house lost a couple of days interest from my down payment as I had to order a bank draft. Also when selling property needed to pay for a wire transfer wheras with a bank the lawyer would have gone in person and deposited my money. Overall I have saved a ton over the 10+ years but as I have more money the limitations of an internet bank sometimes do cost me money or time.