Skip some fees hack with big five (tested with TD)
I have visa cards with TD, and if I want to make a payment close to the deadline, it's easiest to push it to the card from a TD bank account. My solution is to have multiple savings accounts. Each savings account can receive unlimited deposits at no fee, and can transfer money between savings accounts at no fee. There is a maximum of one no-fee transfer out per savings account. Since these are all low interest, I nicknamed them all LISA (low interest savings account).
I have one LISA for transfers in (linked to Simplii and Ting). I have one LISA for transfers to first visa card and another LISA for transfers to the second visa card.
I would be open to getting a LOC with TD with a small CL to accommodate outbound transfers, but am in no rush and would only take it if pre-approved.
I can't be bothered with hefty fees on chq accounts, or keeping a positive balance of $5k in a chq account while not accumulating interest.
Just thought I'd share this with the RFD community.
Edit: this trick will not work with RBC.