Personal Finance

Need a chequing account with no fees at a physical bank

  • Last Updated:
  • Nov 25th, 2013 8:49 am
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[OP]
Banned
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Jul 6, 2011
1284 posts
37 upvotes

Need a chequing account with no fees at a physical bank

I am with PC and have used ING in the past, but I need a physical branch (not virtual) that doesn't have fees, where I can go into whenever, pay bills and use cheques.

Now I know there are lots of banks out there, but I just need advice on the best one in your opinion when it comes to service, and better treatment of customers

TIA
21 replies
Sr. Member
Jul 28, 2012
967 posts
367 upvotes
Montreal
toopence wrote:
Nov 24th, 2013 2:31 pm
I am with PC and have used ING in the past, but I need a physical branch (not virtual) that doesn't have fees, where I can go into whenever, pay bills and use cheques.
Except with virtual banks or certain credit unions, and unless you're a child, a full-time student or a senior, there is no such thing as a free lunch.
In other words, depending on the financial institution, you may have to either get other products (credit card, investments, mortgage, etc.) or keep a minimum balance in order to have your monthly fees waived.

EDIT: Added portion in italics above. I stand corrected.
toopence wrote:
Nov 24th, 2013 2:31 pm
Now I know there are lots of banks out there, but I just need advice on the best one in your opinion when it comes to service, and better treatment of customers
That's a very "YMMV" question. I only mean to be realistic when I say this, but it all depends on the employee you get. One day you'll have a wonderful experience at the branch, and the week after, you may be unlucky and fall on an employee who had a bad day and won't go the extra mile for you. You'll always have people who say "I left Bank X for Bank Y because they are treat their customers so much better", and also "Oh yeah? I left Bank Y and now bank at X because THEY treated me better".
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Nov 21, 2013
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toopence wrote:
Nov 24th, 2013 2:31 pm

Now I know there are lots of banks out there, but I just need advice on the best one in your opinion when it comes to service, and better treatment of customers

TIA
That's is very personnal, and may depend on the branch where you do business, but I really love what I have at TD Canada Trust
Member
Jul 6, 2009
370 posts
42 upvotes
If you want no fees you might have to maintain a certain amount in your account for the fees to be waived.
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Jan 20, 2013
685 posts
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Toronto
Keep a minimum balance usually between $3k & $5k
Bill
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Jun 10, 2010
336 posts
111 upvotes
toopence wrote:
Nov 24th, 2013 2:31 pm
I am with PC and have used ING in the past, but I need a physical branch (not virtual) that doesn't have fees, where I can go into whenever, pay bills and use cheques.

Now I know there are lots of banks out there, but I just need advice on the best one in your opinion when it comes to service, and better treatment of customers

TIA
Why do you need a physical branch for this?
Member
Jan 7, 2013
305 posts
32 upvotes
Kitsilano
Where are you located?

I've got a free chequing account at Coast Capital Savings in BC - no minimum balance required and free unlimited transactions.
“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.”
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Aug 28, 2010
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Toronto
Keep a 1k min at BMO and you wont get fees?
Deal Expert
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Aug 18, 2005
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RBC - If you have certain products from them, you can waive fees.
TD - Minimum balance required to waive fees.
What if there were no hypothetical questions?
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Nov 27, 2006
2200 posts
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Toronto
lol want free stuffffff cuz im special
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Dec 8, 2010
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RBC chequing, TFSA, plus credit card = 10 free transactions a month.
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Nov 19, 2004
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Cambridge, ON
sirex wrote:
Nov 24th, 2013 5:24 pm
lol want free stuffffff cuz im special
There used to be a time that banking was free at all banks. They also used to pay you interest. Instead, they have everyone brainwashed to think that fees are essential for the poor banks.

OP, the best option is to get a line of credit at a physical bank and then use it to pay the bills and do chequing. No fees, just keep a positive balance.
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Nov 6, 2009
406 posts
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Maintain $2000 in your account monthly at BMO and your fee is waived otherwise it's $9.95 a monthly.

30 transaction free monthly.
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