IT'S NOT FREE STUFF!fccoup wrote: ↑First you have to understand that nothing in life is free. Once you accept that, then you will be a much happier person.ace604 wrote: ↑
You are right. Well, close. Almost $5900 according to BoC. 2008 $5000 TFSA limit is up to $5500 now so that's a nice gauge of inflation for the layperson as well
The minimum balances at BMO, TD, etc are all a joke anyways IMO. It's just a way to charge people a fee without calling it a fee. Psychologically some people don't mind it that way.
Like 4% back on Rogers MC foreign transactions (with a 2.5% FX fee) 'sounds better' than 1.75% back with no fee. But it's worse. It's all marketing.
"Free" this, "free" that (with $x min. balance) 'sounds much better' than "this and that for $10/mo in lost interest", or "this and that for $7/mo fee".
So now, you ask yourself: Would you rather have free banking at Tangerine (but no rep, no forex, no certified check, etc)
or keep $6000 in BMO ($10/month lost in 2% interest) for all that free stuff?
If it is worth it...then you do it, otherwise, you stick with the nofrills bank
LOL. Psychology got you too. You said "lost $10" for "free".
Losing is the same as paying.
I am strongly opposed to the terminology of calling something "free" when it costs you money, which, you know, makes it NOT free
That's not the definition of "free".
(and no it's not worth it for me at all, I don't need anything that BMO is offering me for $10/month)