What's a good bank?
 

I'm currently with Vancity, and it seems nobody really talks about how good vancity is.

I'm thinking of switching to TD... anyone have one that is good?

Currently, I have an RRSP and Chequing account... anyone know if I transfer my RRSP to another bank, will it cost anything?

What are the steps to take when switching banks?

Yes, most banks charge around $100 to transfer out funds from rrsp or tfsa

TD is open late :)

Get TD to cover the transfer-out cost.

bank of Tiger

we have an office in vancouver and surrey

offer premium rates of 5% on savings accounts

Avoid TD like the plague. They have an amazing web interface, the have awesome hours, the staff are okay but thats it. They will screw you as much as possible within legal boundaries. Stick with van city, or go to BMO or RBC... TD is a disaster, almost as bad as scotia.

I've had great personal banking experience with CIBC. Through my business I deal with RBC and I've had wonderful experiences with them as well.

As for the hours - I anticipate within a year all the banks will be following TD in the 8 - 8 model so I wouldn't base my choice on that if I were you.

^ +1 for CIBC. I've been using them and PC Financial (Which is part of CIBC, so you can use their machines) for many years now.
No problems! Great service, unlike some of TD's incompetent employees. :thumbsup:

I use People's Trust as my savings acount. 2.1% they'r offering is the highest in the market right now

what's so bad about TD?
i've used them for a long time, never had issues that weren't dealt with. also never paid them a dime out of my account for service charges

if your an university student, i suggest RBC. So far both my debit and visa cards from RBC offer no limit transations + no annual fees.

Investment wise, I use ING, since i don't have tons to invest, ING is easy , decent rates.

How do you do that? I'm thinking of switching my TFSA account from TD Waterhouse to Scotia Itrade since they charge lower trading fees.

CIBC also have branches open sundays

A lot of banks charge you a fee if you go less than the minimum balance (usually $1000).

I'm thinking of keeping my allowance in my chequing and move all my savings to my TFSA or a high interest saving account.

Is there a bank that is complete free?

I doubt it.

The only institutions that come to mind (at least commercially anyway) is Vancity and Coast Capital Savings. I once thought about doing what you intend to do but realized Vancity isn't all that bad. I've been a member with Vancity since I was 12.

ING is completely free..and their interest rates are pretty good.

RBC is free as long as you hold a GIC

Go in and talk to them and see if they'll reimburse you the transfer costs.

Wow, ING looks very promising. Only downside is they only have one branch in vancouver.

No fee daily chequing
2% TFSA
1.5% Savings/RRSP

Whereas, Vancity, 1.15% Savings/RRSP, 1.25% TFSA

Plus, ING has mobile banking with apps.

If you are a student and under 18, CIBC offers a low charge account. My daughter (who's 10) has an account with them with a debit card and she doesn't pay any service fees except interact charges if she withdrawls from a branch besides her own. I had the same deal with them until I was 18 (I've been using CIBC since I was 8) and then I had a low service fee account while I was in Uni. I've NEVER paid a fee for being below $1000 in my chequing account. I regularly drain it (it's a chequing account!).

RBC also has special plans for youths and students but I don't know the particulars.

PC Financial - I'm a big fan of them for everyday use (debit, bill payments, cheques) - all free. Been with them for 10 years.

TD - They're pretty good too. I have a lot of my investments with them. I have some account where I have to keep $1000, and then fees will be waived. Haven't had any customer service issues with them yet.

RBC - I had an account with them when I was a kid and there was no fee. Then they started charging me fees without letting me know. I complained. They offered me nothing, no explanation other than "you should've been notified". I took my money and left.

CIBC - I noticed I was getting charged a fee. I went into a branch and spoke to a rep. She was awesome (knowledgeable, and great customer service) and helped me resolve the issue.

I personally like President's Choice the most. There's no "catch" in being able to have no-fee service. No minimum balance, don't need to be a student, don't need to have an investment with them.

Vancity and TD are my regular banks.

Great services and help.

I got TD and CIBC, I getting rid of the td account tho bc most of my money is with cibc and there banks have a lot better staff I think, and there open Sundays :)
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Highly recommend TD if you consistently have $5k+. Open a Select Service Chequing account and you get tons of perks.

Free:
-safety deposit box (think it's a small one)
-borderless/USD account and USD visa
-waived fees for their premium visa cards
-unlimited transactions and i think they waive the fees for TD ATMs as well
-free personalized cheques

There's probably more, but that's all I remember off the top of my head.

And yes, you don't get any interests in the chequing account, but the money you would have to pay to get the same things more than makes up for it.

the only bank that i heard of that is completely free is PC financial, but thats cause u dont get any teller services and u do all the banking online or thru the atm, however i believe u get free cheques with them.

CIBC imo.
Rated best web interface for 3 consecutive years.
Great staff experience there.
Most ATMS out there.