Personal Finance

PC Financial charges extra fee for ATM withdrawal?

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  • Jan 14th, 2018 9:08 pm
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Member
Aug 12, 2004
449 posts
M.D. wrote:
Apr 3rd, 2007 8:19 pm
YorkU doesn't have any CIBC ATM's, so I was forced to use the BMO ones.
I used to have a BMO account and they never charged that extra $1.50.
Never tried it with PCF until now since I really had to get cash that day.
Thanks for the kind responses :)
there is a CIBC at finch and keele
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Feb 27, 2006
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ramoose wrote:
Apr 4th, 2007 6:51 pm
there is a CIBC at finch and keele
yes I know, it's a bit of a walk.
I had to withdraw cash because the post office in InkBlots doesn't accept c/c nor debit and the store was closing in 5 min.
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Dec 25, 2006
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M.D. wrote:
Apr 3rd, 2007 7:29 pm
I took out money at a BMO ATM and it did charge me a $1.50 service fee.
When I got home, I checked my online statement and PC Financial charged me an extra $1.50.
So total charges were $3.00!
Is this right?
no total charge is $1.50, for using PC(CIBC) card on BMO machine.
PC deducts the money from ur account, they will need to give that to BMO though.
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march9 wrote:
Apr 5th, 2007 1:59 am
no total charge is $1.50, for using PC(CIBC) card on BMO machine.
PC deducts the money from ur account, they will need to give that to BMO though.
thats what I was thinking. Maybe I did get double charged.

The only way to find out is to give them a call! Will update tomorrow.
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May 23, 2006
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march9 wrote:
Apr 5th, 2007 1:59 am
no total charge is $1.50, for using PC(CIBC) card on BMO machine.
PC deducts the money from ur account, they will need to give that to BMO though.
Incorrect - the first $1.50 is charged directly by the bank machine for using it (it's added onto the withdrawl amount). The other $1.50 is the Interac usage fee charged by the bank - this appears as a fee charge on the account. Total cost: $3.00.
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rborek wrote:
Apr 5th, 2007 2:10 am
Incorrect - the first $1.50 is charged directly by the bank machine for using it (it's added onto the withdrawl amount). The other $1.50 is the Interac usage fee charged by the bank - this appears as a fee charge on the account. Total cost: $3.00.
hawt damn, i had my hopes up for a minute.
i guess i'll have to accept my fate and reopen a BMO account :D
Newbie
May 3, 2007
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Vancouver
Know you guys are in Ont but vancity credit union has free youth chequing account for anyone under 25. I'm coming up on 25 and looking for a transaction free account - any ideas? Someone before was saying hsbc had a free online account but I missed the boat on the $25 promo.
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OptimusPrime wrote:
May 4th, 2007 7:16 pm
Know you guys are in Ont but vancity credit union has free youth chequing account for anyone under 25. I'm coming up on 25 and looking for a transaction free account - any ideas? Someone before was saying hsbc had a free online account but I missed the boat on the $25 promo.
Since you're already with Vancity, you should take a good look at Citizens Bank. Their Ultimate account is a free unlimited transactions account, plus free ATM at any Exchange location.
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instead, get a credit card and use it. for example, you can even use a visa card at 7-11 to buy a $6 bottle of milk. The clerk might not be happy about it, but according to Visa/MC rules, you can use your card for any amount of purchase, no matter how small.
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Consider, for your case scenario, the HSBC Direct account maybe then..

Cuz with them .. - unlimited withdrawals and bill payments, and quite high interest rate - currently 3.5% on the entire balance...

No minimum amount is required to make that interest or NOT to be charged any fees..

And maybe what would be best for your particular case - any HSBC machines are "your" machines and no Interac fees therefore..

BUT.. / .. AND .. and it's a big BUT and AND for your in particular - any BMO bank machine is also "your" bank machine.. and NO Interac changes then therefore also..

And little bonus from them currently - open bank account with them (by certain date) ..and maintain 100 bucks in it by certain date also - and they will give you $25 bucks present / deposted to your bank account .. at a certain date as well :D

Check it out anyhow:
http://www.hsbcdirect.ca/1/2/hsbcdirect

I, by the way, also have PCF account (not a bad product) .. and an Achieva / Outlook accounts (not bad products also) .. - but when i saw this HSBC direct offer - i just signed up for it .. right away.. - cuz i tend to keep say 3 or 4 or 5 thousand always in my PCF account.. and pay bills etc with this money.. - but unless i keep it in PCF savings account - they don't pay much interest at all nowadays (not as used to be before - keep 10,000 bucks in it..and get highest tier.. they changed it long ago)

So this way i am thinking.. - i will leave less money in PCF .. say 1,000 only..(for this and that.. and for convinience)
BUT .. will transfer about 3,000 or 4,000 to HSBC direct ... and pay all my bills etc from there.. (they are not that large anyhow.. but i like to have few thousand in my account that are just there .. - but this way.. - by just being there .. they will make 3.5%, instead of nothing in PCF ... - and also will give me more flexibility .. - more FREE access to more bank machines (will be not only PCF and CIBC machines from PCF account, but now also HSBC (there is one in Winnipeg, lol) and BMO machines (there are many) .. and even some other machines belonging to some "THE EXCHANGE. User licensed in Canada by FICANEX Services Limited partnership on behalf of Fiserv EFT." ( http://www.hsbcdirect.ca/1/2/hsbc-direct/learn-more ) .. - and i have to research more on this "THE EXchange" thingy .. ( will do soon :) ) .. but as far as i understood (from HSBC CSR) .. any bank machine that has "THE EXCHANGE" simbol on it.. will be a "home" bank machine for this HSBC direct account and will not incur Interac charges.. - and CSR told me .. that National Banks machines in Winnipeg would belong to that "The Exchange" .. - if so .. then they will be "home" bank machines also...

lol, also HSBC CSRs are their by the phone 24/7, 365 days a year (if you really say need them) .. same as PCF CSRs were in the beginning (but now they cut this out at PCF also.. CSRs are not 24/7 there any longer .. - i think from morning to midnight or 11 pm or something like that)

Sorry for messy typing.. i type fast ..and in this style. ;)

I hope this info helps someone...

P.S. - Does anyone know more maybe on this "THE EXCHANGE" / "THE EXCHANGE" Atm machines?
If so - please share that info with us here... (even though i am planning to go google it soon somewhat, on my own, to see what i can find about it) :cheesygri

P.S. #2 .. - oh! .. i forgot to mention .. as far as virtual accounts are concerned .. - i also have an ING Direct account.. - that currently i hardly use or keep any money in ..
AND also .. for few months now.. have that 4.15% account that is located under E-Trade Canada umbrella (as part of their investment options there.. it's quite new ..and not too bad.. - i keep some cash there.. - would be convinient if want to buy some stock ..money is right there and meanwhile earning 4.15% .. and also CAN transfer money in and out from that account to other banks that you can choose to attach to the "accounts you can transfer money to and from" ...
Interest is paid somewhat strange there.. - on 16th of each months.. - but i am giving them a chance .. and will see what happens.. (like flexibility of being able to transfer money easily .. and FREE (and not just once a months for FREE as with Achieva and Outlook accounts) . .and 4.15% helps too..

Achieva and Outlook pay 4.10% currently .. - one free withdrawal / check per month, after that you are charged $1 for each additional (if they occur) .. (for bill payments though Achieva (not sure about Outlook) charges .50 cents a bill regardless of the amount of the bill (used it few times when needed to transfer Money to E-trade (after my Free monthly debit was used) .. so instead of $1 .. this way was only .50 cents, lol (cuz Etrade could be paid / set up as a Bill payment :D
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May 7, 2007
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There... this Google's search - http://www.google.ca/search?hl=en&q=THE ... arch&meta=

..found me some links already on this "thingy" .. for example:
http://www.the-exchange.ca/default.aspx ... &LangID=en
or
http://www.ficanex.ca/atmlocator.aspx?p ... &langID=en

I will educate myself somewhat on it now... :razz:

Yup.. there are FREE and many around.. (even though in Winnipeg - it's only HSBC and National Bank that belongs to The Exchange) .. but other provinces / cities - there are bunch!

Check it out here.. for the entire list:
http://www.the-exchange.ca/default.aspx ... &LangID=en

From the same page there:

"WELCOME TO THE EXCHANGE
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Dec 24, 2004
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Darkman wrote:
May 17th, 2007 9:14 pm
Consider, for your case scenario, the HSBC Direct account maybe then..

interest rate - currently 3.5% on the entire balance...
http://www.hsbcdirect.ca
"Interest paid on balances up to $1 million."
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May 7, 2007
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Ya.. i saw that...

and even talked to CSR about it :)

Basically - just make sure NOT to keep over 1,000,000 dolars there :D

I am planning to only keep there say 3 or 4 thousand anyhow.. - so i ll be OK! :cheesygri

--
P.S.. but actually, ya.. then i guess i should appologize for not too accurate info.. -----> on the entire balance would be wrong.. on 1st million is more like it..

But that's OK.. there are instruments that pay more then 3.5 % anyhow .. ( so for large sums of money.. - use those ... or use those as well)

So this bank is only for conviniece(s) / flexibility mentioned above and at the bank's site .. and meanwhile to make 3.5% on your money .. while you are at it (experiencing "convinience and flexibility" that is...) ;)
Newbie
May 3, 2007
17 posts
Vancouver
I called the hsbc 1-800# about free abms since I was going camping for the long weekend. Appearently, they have an online tool with all free abm listed. It's at: hsbc.ca/abm. Even if there is no abm, interac purchases such as gas & groceries, purchases in the mall, movies, whatever - it's all free so tons of savings for daily use.

I just find it funny that pcf is actually cibc but they charge to withdraw $ from cibc abms.

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