Every time I try to write an article about banks I end up looking online for the fees for a service or offering. It’s horribly frustrating because the banks are very good at NOT clearly linking to their fee, charges and commissions pages. So for my benefit and hopefully yours I’m going to list where I found the bank fees for BMO, CIBC, RBC, ScotiaBank and TD.
Don’t Trust Banks: Always Check the Fees
Always, always, ALWAYS, call a bank you’re interested in and talk about the current and proposed fees before making any choices. The fees seem to be changing on a monthly, if not weekly, basis. And frankly most of the changes are increases in existing fees and adding brand new never thought of before fees.
Many banks will also waive fees if you talk to them about what business you are bringing to them. They may also have fee “bundles” where you can get several fee-costing services for one lower price. Unfortunately, it seems like if you want to pay the lowest fees you need to talk to a real live human being.
Where to Find the Fees for the Big Five Canadian Banks
As of August 5, 2013, these are all the website pages listing fees that I could find. There may be more:
Bank of Montreal
Additional Fees and Services
Personal Account Service Fees, April 1, 2013
Additional Service Fees
(Statement; Plus; VISA; Account Management; Account Closing; Travel; Gifts; Personal Banking Services and Fees; Dormant Inactive Accounts; Miscellaneous)
Fees for Additional Services
Account Fees at a Glance
Account Related Information and Administration Fees
- How to Open an ING Direct THRIVE No Fee Chequing Account
- How to Open a PC Financial Joint No Fee Chequing Account in Person
Have you discovered yet another place the banks hide their fees? Please post a link or a comment to share with the rest of us!