Saturday, August 15, 2009

Searching for a new bank account

Citizen's bank has recently decided to close or sell off or otherwise discontinue personal banking for some reason, which has me looking for a new bank account. I started an account there because I wanted no fee debit in the USA when I travelled there, which tends to happen quite frequently. Thus far, the only other place that I could find offering something like that is ICICI. They're asking that $500 be left in the chequing account to avoid fees though. At a modest 1.5%, which is what Canadian Tire Financial Services is offering on their savings account, that comes out to $7.5/year. More if there are more typical interest rates. Maybe I'm ignorant about the number of transactions I make on each trip, but I don't think that move would save me money. Anyway, I suppose I'll keep looking.

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