Sunday, March 18, 2007

Is Coast Capital Savings backwards?

Here's a good reason to get a free chequing account with Coast Capital Savings. But I do wonder. Is Coast Capital progressive or just backwards?

Many Canadians are unhappy with bank fees in general, not just the fees for using another bank's cash machines highlighted by Finance Minister Jim Flaherty.

They think service charges are high and increasing all the time, despite the fact that many customers are adopting low-cost electronic banking.

They also feel they don't get a break from their banks for being long-time loyal customers.

"About 30 years ago, we had no fees," says Caroline Hubberstey, a spokeswoman for the Canadian Bankers Association.

"The cost of banking was covered off in the spread between loan rates and deposit rates. Borrowers paid for the banking activities of other clients.

I see. Sometimes being backwards can be a good thing...

(Again; context is everything)

Whole Story: Why are bankfees so high?


Woman at Mile 0 said...

I bank with Coast Capital and I love them. One low monthly fee includes all my ATM, debit and cheque fees. It's great.

Erik Abbink said...

Good for you! I switched to Coast Capital because Royal Bank was getting far too expensive.

Nothing beats free!

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