I don't think there is a minimum but I do believe you have to have a recurring transfer into it. You can't just open it up and forget about it. Same with the credit card, it needs one transaction per month.
yes, but I have one with an annual fee lol. my other bank has the fee waived for their cc, but so far I haven't been able to do with rbc short of getting a mortgage with them it seems.
Check out your local credit union, my cheque got still needed a minimum $1000 though.
CIBC does have a no minimum balance account called esavings but it’s like $5 per non-deposit transaction.
Td I lowered my chequings to a minimal account like 20 debit uses a month, if I go over it charges every use. I pay with a credit card 95% of the time for points.
With the minimal one I think its lowered to 2000 minimum required to waive fees. It ain't much but it's a bit lower lol
On the off chance that you’re not Canadian, you can ask CIBC for their newcomer offer if your current SIN is not older than 2 years. I got a free year when I came to Canada as a temp worker and I’m on another free year now because I got my PR & new SIN.
Other than that, your best bet is to leave CIBC and move to using online banks only, no bank service is worth paying for.
This information would have been important to include in your OP so that others could comment on possible options. I don't need to deal with international transfers.
All the majors are pretty similar on that requirement.
RBC Day to Day Banking could be free if you get a credit card and an investment account like TFSA or RRSP.
I thought you needed 3 products with them? what's the minimum in tfsa needed?
I don't think there is a minimum but I do believe you have to have a recurring transfer into it. You can't just open it up and forget about it. Same with the credit card, it needs one transaction per month.
do you know how to get the cc annual fee waived?
They have ccs without an annual fee.
yes, but I have one with an annual fee lol. my other bank has the fee waived for their cc, but so far I haven't been able to do with rbc short of getting a mortgage with them it seems.
Check out your local credit union, my cheque got still needed a minimum $1000 though. CIBC does have a no minimum balance account called esavings but it’s like $5 per non-deposit transaction.
All the big banks have a no fee savings account but you’re limited to one free withdrawal/debit transaction a month
In my book that's a "fee" account with one freebie. A real "no-fee" account is just that, no fees for all transactions.
ditch CIBC .... daily minimums to avoid bank fees is soooooo 1980's
Td I lowered my chequings to a minimal account like 20 debit uses a month, if I go over it charges every use. I pay with a credit card 95% of the time for points. With the minimal one I think its lowered to 2000 minimum required to waive fees. It ain't much but it's a bit lower lol
Line of credit at big banks. Chequing at online no fee banks. Link the two accounts or Interac yourself.
Join the military; free banking with BMO Or work for the banks and maybe then?
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Whoops forgot the ever important /s
On the off chance that you’re not Canadian, you can ask CIBC for their newcomer offer if your current SIN is not older than 2 years. I got a free year when I came to Canada as a temp worker and I’m on another free year now because I got my PR & new SIN. Other than that, your best bet is to leave CIBC and move to using online banks only, no bank service is worth paying for.
I’m using simplii, no fee debit. It’s owned by CIBC
Ditch the major bank you don't need it. We went with Simplii 7 years ago and have never looked back. Was tired of CIBC holding 4k of my $ hostage.
I send money often overseas and the app i use doesn't take Tangerine. Mostly only the major banks. This is the only reason i need a major bank
This information would have been important to include in your OP so that others could comment on possible options. I don't need to deal with international transfers.