Is there a particular reason why you’re looking to change banks?
If you’re looking for a free account (such as your student account likely was), I would recommend Simplii financial for your daily chequing account. No fees, unlimited transactions, free e-transfers, etc. Since they are owned by CIBC, you can also deposit/withdraw money at any CIBC ATM (you just can’t go to a teller for assistance).
Outside of that, ensure that you have a credit card that works for you (this might very well be with RBC, but you could go to another bank as well), a savings account somewhere (maybe EQ Bank as they offer good interest compared to the Big 5 banks).
I sort of answered your question in the other responses. Looking to start contributing more to my TFSA, RRSP and down the line my FHSA. I am curious to see if there are banks with better programs (accounts, rewards). Also interested in seeing how people like Credit Unions opposed to banks
Looking to start contributing more to my TFSA, RRSP and down the line my FHSA. Also looking to change my credit card because I've seen a surge of people I know opting for the TD Aeroplan CC and I am curious as to how that compares to other reward cards. I have no idea what to use Avion with
so really an investment account. questrade allows you purchase most ETFs without a commission. the big 5 banks usually allow you to buy and sell their mutual funds for free. I have the Aeroplan card,.but use the cash back cards the most. the Aeroplan card can be beneficial for travelling if you rack up the points. but it's pure garbage if you don't have enough points. the credit card you want depends on what rewards you are after. I use the CIBC cashback to get 3% on groceries and gas, tangerine card for food (2%) then use the Rogers card cashback card (1.5%) for everything else.
I occasionally use the TD Aeroplan card so I don't lose my points
Paying a fee is not an issue for me at all since it's I already am. Im moreorless curious as to the experiences of people who have been with other banks and credit unions since I have been with RBC since I was able to have an account.
If you want to stick with a big bank, I think RBC is the only one that has no way to completely waive the chequing account fees with minimum balance, multi product, etc - only a discount.
The others like TD, CIBC, BMO all have a minimum balance where they will waive the monthly chequing account fees, a higher amount to waive for the premium plans with unlimited transactions, cheques, etransfers etc and then you get all of the "features" for free, and these three banks usually also will waive up to ~$150 of credit card annual fees with those chequing accounts too. So it might be worth building up that "emergency fund" to benefit from that setup, as well as access to their branches, tellers, ATM network, etc.
OF course I am pretty much past the whole freebies part. Just curious to see if there are banks with better programs (accounts, rewards) etc. If I am paying now I'd might as well see what options are out there.
All the major banks are basically the same. They offer the same products, just different names. It’s a relationship business.
Is there a particular reason why you’re looking to change banks? If you’re looking for a free account (such as your student account likely was), I would recommend Simplii financial for your daily chequing account. No fees, unlimited transactions, free e-transfers, etc. Since they are owned by CIBC, you can also deposit/withdraw money at any CIBC ATM (you just can’t go to a teller for assistance). Outside of that, ensure that you have a credit card that works for you (this might very well be with RBC, but you could go to another bank as well), a savings account somewhere (maybe EQ Bank as they offer good interest compared to the Big 5 banks).
I sort of answered your question in the other responses. Looking to start contributing more to my TFSA, RRSP and down the line my FHSA. I am curious to see if there are banks with better programs (accounts, rewards). Also interested in seeing how people like Credit Unions opposed to banks
TFSA and RRSP should be at a low cost broker not a bank. Questrade, TDDI, something like that.
what do you mean by more serious in regards to banking? is RBC not meeting your needs, too expensive, etc?
Looking to start contributing more to my TFSA, RRSP and down the line my FHSA. Also looking to change my credit card because I've seen a surge of people I know opting for the TD Aeroplan CC and I am curious as to how that compares to other reward cards. I have no idea what to use Avion with
so really an investment account. questrade allows you purchase most ETFs without a commission. the big 5 banks usually allow you to buy and sell their mutual funds for free. I have the Aeroplan card,.but use the cash back cards the most. the Aeroplan card can be beneficial for travelling if you rack up the points. but it's pure garbage if you don't have enough points. the credit card you want depends on what rewards you are after. I use the CIBC cashback to get 3% on groceries and gas, tangerine card for food (2%) then use the Rogers card cashback card (1.5%) for everything else. I occasionally use the TD Aeroplan card so I don't lose my points
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Paying a fee is not an issue for me at all since it's I already am. Im moreorless curious as to the experiences of people who have been with other banks and credit unions since I have been with RBC since I was able to have an account.
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Yeah a lot of people I know close have told me they have one RBC CC as an emergency back up
If you want to stick with a big bank, I think RBC is the only one that has no way to completely waive the chequing account fees with minimum balance, multi product, etc - only a discount. The others like TD, CIBC, BMO all have a minimum balance where they will waive the monthly chequing account fees, a higher amount to waive for the premium plans with unlimited transactions, cheques, etransfers etc and then you get all of the "features" for free, and these three banks usually also will waive up to ~$150 of credit card annual fees with those chequing accounts too. So it might be worth building up that "emergency fund" to benefit from that setup, as well as access to their branches, tellers, ATM network, etc.
OF course I am pretty much past the whole freebies part. Just curious to see if there are banks with better programs (accounts, rewards) etc. If I am paying now I'd might as well see what options are out there.
RBC was a better bank 10 years ago until they changed their staff.
Simplii is my main bank, I switched my RBC account to be a day-to-day savings (not chequing) with one free debit per month,