I just found this, Financial Service Charges Calculator, provided by the Government of Canada! It’s provided by the Office of Consumer Affairs. It looks like PC Financial is the cheapest by far for my needs. Using a grossly exaggerated estimate of my monthly financial transactions (I exaggerated it a lot because I expect to use Interac more now that I don’t use credit cards), I got the following results:
PC Financial – $1.50
BMO – $25
CIBC – $14.45
HSBC – $25
Scotiabank – $29
TD Canada Trust – $14.45
This assumed only 1 withdrawal from another bank’s INTERAC bank machine. This assumption may be incorrect for some of these banks which don’t have as many ABM’s available to use. Most of the plans above are unlimited plans. PC Financial is clearly the cheapest. I’ve also neglected the fact that cheques from PC Financial are free, and also, CIBC and PC Financial appear to have one of the largest ABM network’s in Canada according to this article (BMO is not listed) which means that I will need to use the other banks’ machine’s less often. I just did a search for CIBC/PC Financial ABMs in Vancouver and it sure turned up a lot.
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