Comments on: The Citizens Bank of Canada Chequing Account

By: Stephanie

Stephanie — Thu, 02 Jul 2009 18:13:36 +0000

well as for the “virtually no fee chequing account” i know that the credit union coast capital offers this as well. where they make their money is on interest rates on loans and businesses, but it is actually a pretty decent account for the average joe.

By: Bill in Berlin

Bill in Berlin — Tue, 25 Nov 2008 13:16:56 +0000

Actually, what Citizens is doing with the free ATM is new only to Canada.

My German bank doesn’t charge on its side for ATM use abroad.

Nationwide in the UK and Charles Schwab in the US both offer global free ATM use. Schwab – like Citzens – will even refund any fee you DO get charged. Wizard in Australia offers a no-ATM-fee Mastercard.

So the 5 buck ATM fee is by no means universal. And of course it’s a great way for a smaller bank to attract customers.

By: nancy (aka citizensbanker)

nancy (aka citizensbanker) — Wed, 10 Sep 2008 05:15:49 +0000

Hey, thanks for this! I wanted to comment earlier, but of course you had the Woes per your next post. Ugh! Glad you got that sorted out, and I’m now officially anxious about my own blog.

Re: if there’s a catch – truly, no. But you’re right, in that we hope it attracts lots (and lots!) of Canadians to us, who then decide to do further business with us (terms, rrsp’s etc.). Even that ‘further business’ is usually a really good deal – since we’re an online bank, typically we can beat bricks-and-mortar banks for rates. Plus, we’re Canadian-owned, and our profits go back into the community, since our parent company is a credit union (Vancity).

Thanks again for the mention.