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| Subject: Most Widespread Bank in Canada? |
What is the most "widespread" bank in Canada? I mean the bank that has branches and ATMs everywhere and in all the provinces.........
[05-01-2009,18:36]
[**.99.175.226]
Anonymous |
(in reply to: Most Widespread Bank in Canada?)
Pretty much the big 5 are everywhere equally:
Royal Bank of Canada (RBC)
Toronto-Dominion Bank (TD Canada Trust)
Bank of Nova Scotia (Scotiabank)
Bank of Montreal (BMO)
Canadian Imperial Bank of Commerce (CIBC)
[05-01-2009,19:14]
[***.131.12.0]
Richard |
(in reply to: Most Widespread Bank in Canada?)
Yep, Richard is right. And, there is very little difference between them--they all charge horrendous fees, they all have limited hours, and they would all prefer that you bank online rather than deal with you in person.
I´d advise you to choose your bank on its location rather than worrying about what it can do for you. Quite frankly, unless you need something specific like a US dollar account, it´s not worth the bother trying to figure out the petty differences between them.
[05-01-2009,20:02]
[**.252.125.242]
wannabecanadian |
(in reply to: Most Widespread Bank in Canada?)
Canadian banks are regulated so they operate significantly different than US banking institutions.
the best service comes from Credit Unions - which are also government guaranteed. I refuse to use a conventional bank.
[05-01-2009,20:07]
[***.20.116.15]
Sharon |
(in reply to: Most Widespread Bank in Canada?)
Per wannabe, I found the major Canadian Banks (5 above) all monotonously the same in fees, rates, and customer service - high, low, and questionable. I know the story of how that´s why their not going under, like their American cousins, etc., etc. But that´s no excuse for the gross lack of competition and high fees, the result of strict limitations that require the same limited choices, rates, and services, according to Canadian banking laws.
Per wannabe, Sharon, and Roy, the recommendation is a local credit union. Perhaps the only advantage with the big 5 is always finding a branch of your bank wherever you travel in Canada.
[05-01-2009,22:38]
[**.53.226.146]
Richard |
(in reply to: Most Widespread Bank in Canada?)
true but my Credit Union operates on Interac - available in most cities.
What I do... I have a minimal service charge account with RBC which I use when I travel overseas etc. All my mortgage, retirment savings etc is with the credit union.
90% of the time my credit union access works just fine.
[05-01-2009,23:57]
[***.20.116.15]
Sharon |
(in reply to: Most Widespread Bank in Canada?)
Plus lets not forget stores like Loblaws with the President Choice Bank where there are no fees to bank or ATM fees. IT is connected with CIBC.
Americans that are fairly behind Canadians when it comes to debit card use and online banking might have some issues with our banks. They are not likely to go Bankrupt.
The Scandinavians are so far ahead of us when it comes to ease of payment for everything and have a much better system.
I attend my Big 5 Bank less then once a month.
All Banks in Canada are very secure.
Roy
www.cvimmigration.com
[06-01-2009,07:02]
[**.55.219.123]
Roy |
(in reply to: Most Widespread Bank in Canada?)
I´d definitely recommend looking into a credit union, as Sharon mentioned. Unfortunately for us, the only one available here was horrendous--expensive and so limited my husband walked out in disbelief. I´m sure if you are in a big city, it is a much better option.
Roy is right--in general, Americans aren´t as used to using debit cards as Canadians. I still can´t get used to it, and miss having the personal service I had at both my credit union and my bank back home. I simply can´t stomach the idea of doing all my banking online and not having a real, live person for my assistance. Customer service, sadly, is another conversation for another time.
[06-01-2009,09:00]
[**.252.125.242]
wannabecanadian |
(in reply to: Most Widespread Bank in Canada?)
I don´t use a debit card simply because I am a points freak on my credit cards. Use my credit card for everything imaginable and then pay it each month. Takes a little dicipline to control but I sure like those dividends that I get for very little effort.
[06-01-2009,09:13]
[***.20.116.15]
Sharon |
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