Student: Which bank should i open a account at?

[MindBomber]

Originally Posted by nabs

Vancity royally screwed me over when it came to their "unlimited" banking.. check out the monthly account service fees that they "dont" charge... I fucking hate vancity, they screwed me over thousands of dollars over the passed 10 some odd years, and all they could say was, i'm sorry there's nothing that can be done. FUCK VANCITY, don't believe their unllimited bullshit. btw.. they charged me from 40 to 60 dollars a month for service fees with a student account. and yes im under 25.

I don't see how that would be possible, unless your using Bank ATMs that charge you fees routinely, because I've never been charged a single service fee.

Under 25? Get free banking and a VISA card

No fee Youth account

Being under 25 means free banking when you sign up for a Youth Account at any of our branches. You'll get unlimited:

free online banking transactions
free in-branch transactions
free direct debit transactions when you shop
ding-free ATM transactions when you use any Exchange ATM at Vancity and many other credit unions and banks in Canada and the USA
Find out about the other free stuff you get with your Youth account.

https://www.vancity.com/Membership/W...efits/Under25/

Originally Posted by johny

I don't tihnk credit unions do EMT's. something to look at. I use them sometimes. best way to send instant money.
.

Credit unions do email money transfers, I use them frequently.

[RevRav]

^ +1 $40-60 a month? you must be making transactions 5 times an hour or something.

[Gt-R R34]

Originally Posted by RFlush

Unless you are premier with HSBC, having branches in Canada or Asia doesn't mean squat.

Does Vancouver have any Standard Chartered or Citibank yet?

nope

[nabs]

Originally Posted by ksceric

^ +1 $40-60 a month? you must be making transactions 5 times an hour or something.

i made a transaction of once a day, and hardly ever pulled out money from an ATM... I know it was most likely some kind of computing error or error on my account, but all they said was too bad so sad.

[MindBomber]

Originally Posted by nabs

i made a transaction of once a day, and hardly ever pulled out money from an ATM... I know it was most likely some kind of computing error or error on my account, but all they said was too bad so sad.

I have quite a bit of experience with credit unions, I don't want to name names, but two people I'm close to are executives at local institutions, so maybe I can give some helpful advice.

When I started seeing my gf she had an regular account at a credit union and payed service charges despite qualifying for a youth account; when I raised this issue on her behalf the institution reversed all the charges she has mistakenly incurred and switched her account to a youth account, they were very apologetic for not realizing their error themselves.

A teller will not have the authority to reverse the charges, and they may not realize the issue is something that should be dealt with by management, so I'd suggest you request a meeting with your branch manager. Have the manager provide you with a breakdown of all the service charges you've incurred from the time you opened your account, and explain to you the reason for each charge. If they can't provide an explanation for the charges or there is an error the charges should be reversed and the funds redeposited into your account. If the branch manager is uncooperative then request a meeting with her manager or their email contact information, continue up the ladder until the charges are reversed. I expect the BM will reverse the charges, but you could go as high as writing a letter to the board of directors.

I would never go to a big bank, I'm all about credit unions. Not only does banking at credit unions support local companies, but the service is generally much better. A credit union relies entirely on the support of its community, so they take issues like this very seriously and their smaller locally based management structure makes it easy to get in touch with the people in charge to solve problems like this.

Keep us posted, because there's no way they will leave illegitimate charges on your account. If they are correct, at least this way you'll find out what they were for.

[Matlock]

Originally Posted by johny

I don't touch paypal with a 20' pole. the company is horible.

I've haven't had a bad experience using paypal through my visa card. I would never let them dip their hands in my bank account though.

[polvoronn]

Originally Posted by nabs

i say coast capital. they have no fees for anything for students as well as no debit usage limit. TD for students is only a chequing account and a 20 transaction limit per month.

Coast Capital doesn't treat students any more special than any other person. Every member is able to have a free chequing account.

Originally Posted by MindBomber

I believe all credit unions offer this.

While there is a high likelyhood that this is true, it cannot be guaranteed. Central1 (formerly Credit Union Central of BC) doesn't mandate "cheaper" accounts based on age; it is at the discretion of the credit union.

Originally Posted by johny

I don't tihnk credit unions do EMT's. something to look at. I use them sometimes. best way to send instant money.

I don't touch paypal with a 20' pole. the company is horible.

I'm at TD and haven't paid a dime ever. with 2 acounts and visa. just have to keep over $1000 in the acount.

Credit Unions don't do Interac electronic money transfers. It is relatively cumbersome to transfer money from a credit union account to another account outside of that institution. Typically, the quickest way to do it is to cut a cheque and physically deposit it, but that doesn't guarantee that the deposit won't be held.

As for paypal, I've not had any problems with it nor would I expect anyone to have problems with it as long as they're somewhat careful of the type of transaction they're running.

Minimum balances can be seen as a type of service fee as it represents an opportunity cost.

[insomniac]

Totally forgot about that I made this thread. Ended up going back to td. My spending online is pretty bad lolol
Thanks for all the advice everyone! Ill try to thank all of you when I wake up
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[insomniac]

Btw I can use the account to access td waterhouse or is that something totally different? I've been using parents account to buy stocks a few years back and I think I wanna go back into stocks soon :/
I have a feeling ima get failed.. lol
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[ehhhwik]

when I was a student at UBC, i was with RBC, got their No Limit student banking package, free bank account, unlimited debits, online banking, etc, free Visa, opened up a TFSA with only $25 in it to get the monthly fee fully rebated, which is usually $10 i think, so basically everything was free, didnt pay a penny in bank fees

[suzuka84]

RBC is good. They'll take care of you once you start working and building up your bank account.

[pastarocket]

You can't go wrong with Coast Capital Savings.

[bakasam]

I have my savings with coast capital and a TFSA for investments and whatnot with TD

[nabs]

Never ended up getting a penny back from VANCITY fuck them. after fighting for so long even getting a lawyer involved couldn't get it back.

[RevRav]

^ I got $70 of dividends from them just few days ago. That's on top of the monthly interests.