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volkerb
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« on: March 09, 2009, 08:40:17 PM »
Brace yourself for some unusual fees from your bank

ROB CARRICK

From Tuesday's Globe and Mail

E-mail Rob Carrick | Read Bio | Latest Columns
January 27, 2009 at 3:30 AM EDT

We're going to have to keep a close eye on the big banks this recession because weird and nasty stuff is starting to happen.

A couple of reader complaints have come in over the past few days about a notice received from Toronto-Dominion Bank concerning lines of credit. Get this: TD intends to introduce an annual $35 inactivity fee on April 30 for people who have unsecured lines of credit, but don't use them.

http://www.theglobeandmail.com/servlet/story/RTGAM.20090127.wrcarrick27/BNStory/budget2009/


Yes , How can we s..k more money out of the flock of sheep.
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volkerb
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« Reply #1 on: March 09, 2009, 08:49:04 PM »
Senate set to put bank fees under the microscope

"...The Senate banking committee is set to launch hearings this month at the urging of New Brunswick Liberal Senator Pierrette Ringuette. .."




http://www.ottawacitizen.com/Business/Senate+bank+fees+under+microscope/1342441/story.html

Yes indeed hmm interesting. yes we have to look into this...  hmm   who are they fooling LOL
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volkerb
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« Reply #2 on: March 09, 2009, 09:02:52 PM »
The World Economic Forum ranked Canada's banking system the healthiest in the world in 2008.

But when it comes to communicating with customers, Canadian banks get a failing grade.

Take TD Canada Trust, which wanted customers to pay a $35 fee for not using their unsecured credit lines.

Faced with protests, the bank axed the inactivity fee and announced a commitment to no new fees and no fee increases on banking products for the rest of 2009.

http://www.thestar.com/business/article/589052



When vampires are thirsty for blood .. watch out
« Last Edit: March 09, 2009, 09:05:11 PM by volkerb » Logged
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« Reply #3 on: March 10, 2009, 05:19:53 AM »
You know what else TD did recently?  They decided to put a "hold" on some deposits made via green machine.  I know a lot of banks do that with new customers for a year but, we have been banking with TD for 20 years and they "out of the blue" did that to us.  It took one (very loud) phone call to reverse that decision!

We rely on green machine deposits because our home branch is in St. Albert and we live in Edmonton.  Who the hell drives to their own branch all the time?

Also, some years ago, TD offered us "paperless" banking which reduced our monthy banking fees.  Suddenly, we are back to paying those banking fees.  I was not amused. 

makes me want to go back to burying money in the back yard and bypassing the banks completely. 
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"Organized people are just too lazy to look for anything."
volkerb
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« Reply #4 on: March 10, 2009, 05:35:56 AM »
Quote from: Admin on March 10, 2009, 05:19:53 AM
You know what else TD did recently?  They decided to put a "hold" on some deposits made via green machine.  I know a lot of banks do that with new customers for a year but, we have been banking with TD for 20 years and they "out of the blue" did that to us.  It took one (very loud) phone call to reverse that decision!

We rely on green machine deposits because our home branch is in St. Albert and we live in Edmonton.  Who the hell drives to their own branch all the time?

Also, some years ago, TD offered us "paperless" banking which reduced our monthy banking fees.  Suddenly, we are back to paying those banking fees.  I was not amused. 

makes me want to go back to burying money in the back yard and bypassing the banks completely. 


Cheesy


Twenty Places To Hide Money At Home Besides Under Your Mattress


http://www.thesimpledollar.com/2007/03/01/twenty-places-to-hide-money-at-home-besides-under-your-mattress/
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ChickEng
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« Reply #5 on: March 13, 2009, 12:00:24 PM »
I gave up banking with a bank per se. I switched from Scotia Bank 2 years ago to Presidents Choice banking and it was the best decision ever made.

I pay no fees for anything. Sorry that's not true - if I over draw my account I pay a nominal fee. But since that rarely happens, I consider my account fee free. I also make pretty good interest on the accounts and have actually had to claim it on my income taxes.

I found having a regular bank was useless - I rarely ever need to go into a bank and do everything on line. If I need regualr bank services like money orders etc I just go to a CIBC bank and they do it for me. Free of Charge.

If you don't like bank fees, leave and go PC
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Dan07
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« Reply #6 on: March 15, 2009, 06:58:46 AM »
Once I've paid off all of my outstanding balances with TD, then I'll be switching over to opening various accounts with PC Financial.  There are other financial institutions that have better interest rates, but I just don't trust them with my $.
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"It's Not What Happens to You, It's What You Do About It". 

W. Mitchell
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