Personal Finance

Site to research chequing accounts?

  • Last Updated:
  • Jul 11th, 2014 12:14 pm
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[OP]
Deal Expert
User avatar
Jul 22, 2006
21707 posts
2404 upvotes

Site to research chequing accounts?

Noticed a ton of fees in my TD chequing account and after calling I found out it was because I had too many transactions performed in June (I'm trying to use cash or debit instead of a CC). The rep wanted me to go into a branch to talk to someone so I would like to do some research instead of going in blind.

If I had to choose out of convenience it would be CIBC or TD (both are much closer than Soctia, ING etc).

Thanks
8 replies
Member
Nov 27, 2009
319 posts
25 upvotes
if you want unlimited transactions, go with td select service but it requires 5k minumum deposit.

If you dont want to keep minimum deposit, keep ur current account and downgrade to the lowest possible and open a tangerine/pc financial and do all your banking with them.
[OP]
Deal Expert
User avatar
Jul 22, 2006
21707 posts
2404 upvotes
^
PC financial is the one you can use CIBC atms with right?
Deal Fanatic
Aug 29, 2006
7628 posts
1511 upvotes
^Yes and I think most people don't need the TD unlimited, they have one that has unlimited transactions still but only need $3500 (?) but you just don't get the fee credit card and safe deposit box.
The Devil made me buy it - RFD. :twisted:
Deal Addict
Aug 25, 2005
4734 posts
1324 upvotes
sounds like PCF is the way to go for you (uses CIBC atm). theres no reason to go TD unless you're doing the All-Inclusive for the other benefits (credit card annual fee waive, free safety deposit box, free USD chequing account, free USD credit card, etc). The unlimited chequing account is pointless.
[OP]
Deal Expert
User avatar
Jul 22, 2006
21707 posts
2404 upvotes
I'm thinking of keeping the TD account with the minimum balance to waive the fee and then use the PC account for transactions... This way in case of a emergency I wouldn't have to wait x amount of business days...

Would this be a good idea?
Deal Addict
Feb 28, 2003
1322 posts
90 upvotes
ING is now tangerine and tangerine uses scotiabank atm's (they are owned by scotiabank now)
i just signed up myself a few days ago and am going to ditch BMO (paying fee's for unlimited transactions while the amount is less than their minimum sucks...u just bleed money)
if you need any help/pointers let me know

right now they also have a promo if you open a new savings/chequing account you get $50 bonus if u put minimum $250 in each (so $100 bonus if u open up both)
and if you switch your direct deposit from work to tangerine they give u $50 again

i am about to start a new job and did my share of research as well and decided on closing BMO and opening up tangerine (i already have a joint RBC if i need a brick and mortar bank location for fast cash, etc)

i don't think PCF has any bonus promotions right now...i figured might as well get the $150 free from Tangerine anyways since i was gonna switch banks anyways

//edit
one thing i forgot to mention was the ease of sending in cheques to tangerine
just take a picture with your smartphone of both sides and its good to go (wait for their email confirming it though)
not sure if pc financial has that feature, but combined with the rest of the bonuses from Tangerine its basically the cherry on top for me

another thing i forgot to mention, tangerine is giving you 2.50% until july 31 on all deposits in the savings account
their normal interest is 1.3% (waayy better than any of the regular banks i found lol) for the savings account
they had the same offer last month for all of june, and extended it to july... im hoping they will extend it again haha
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