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Before I clicked through I thought this article was about how banks charge a fee for every electronic debit card transaction that they process. Then I realized
by redstripe 16y ago
Before I clicked through I thought this article was about how banks charge a fee for every electronic debit card transaction that they process. Then I realized most banks in Canada charge $0.50 at a time.
- danudey 16y agoReally? For ~$12/mo I get unlimited debit card uses, ATM withdrawls, online bill payment, and teller transactions. I can't remember the last time I paid service charges.
- samsonasu 16y agoThe last time you paid a service charge was the last time you gave your bank $12. Even if you got dinged $2 per ATM withdrawal you could take money out once a week and pay less in fees. Your situation sounds like highway robbery to me.
- danudey 16y ago$12 per month for a debit card, four bank accounts, unlimited transactions, good ATM coverage, branches open until 8 PM every day, friendly service. Sounds pretty good to me. Also, your suggestion would imply that I should only spend cash, presumably meaning that I take out huge sums of money once a week at the ATM, then spend the week having to juggle cash, change, etc. It's not worth the hassle at all. The fact that debit cards are the most common method of payment in Canada seems to imply most people agree with me.
- pbhjpbhj 16y agoI'm pretty sure the parent post is talking about charges made to those receiving money from you, eg retailers, and not to charges made on consumers directly.
- heresy 16y agoYou have to pay for electronic transactions? I guess because the majority of transactions here (NZ) are electronic, I'm used to it being the de facto way to pay. There is no service charge or monthly fee. You get dinged only if you do anything requiring human interaction, like going into a branch and performing a transaction through a teller.