Banking and Saving Fees

in Bank, Bank Fees

Back in the good old days, my office at Nortel had a banking machine on site. This was before banks started playing silly games with non-subscribers, charging them White ATM fee charges. Even then, I did open an account with CIBC, and back then they had a Zero Fee Account. That stopped working when the CIBC ATM changed to a Credit Union machine.

Stupid Bank Tricks

More Stupid Bank Tricks

My current employer has an RBC machine in the lobby, however, RBC doesn’t really have a zero fee banking account (unless I move all my banking there). No chance to resurrect my earlier brilliant idea there.

I did finally notice that across the street there is a Scotiabank branch, from my current office. After 2 years the light finally went on, I have a Tangerine Bank Account. As I have pointed out, Tangerine is owned by Scotiabank, and I can use their ATM machine with no fees.

This now means, I can use the Tangerine account which has zero fees (for now), and do transfers to it (for no fees) and withdraw money without fees, which seems to be ideal. You could also do this with Simplii and CIBC machines I assume.

Another stupid bank trick to add to my list of stupid bank tricks? Maybe, but if you have enough of them, you will have more money left in your bank account. Another way to live, is to simply take enough cash out every pay cheque that you need.

If you want to joinย Tangerine, use my codeย and I make some money too ( 47979477S1 ).

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{ 2 comments }

{ 2 comments… add one }
  • Dividend Wisp November 20, 2017, 9:42 PM

    Nice job working your banking benefits ๐Ÿ™‚

    Personally I just do not really ever use cash, so I have little need to withdraw it, or if I do generally use my bank or get cash back for free from the LCBO or a grocery store.

    ๐Ÿ™‚

    Reply
    • bigcajunman November 21, 2017, 5:41 AM

      That is another way to do it, but I need cash if I wish to buy lunch ๐Ÿ™ .

      Reply

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