HI Group,
As an avid TD Canada Trust user, I’ve always had a chequing account with them. Before I did some research today, I had previously assumed that most chequing accounts between banks carry the same perks. However, that theory has clearly been debunked, as I entailed on my research trip.
One thing i noticed is the plethora of bank fees, that each bank carries. BMO for instance has a variety of “plans” to decide upon, which allow a finite amount of transactions per month, to possibly unlimited transactions. A general plan consists of a monthly fee of $14.95 per month, allowing unlimited transactions. Consequently, A student discount is also offered providing the opportunity to not pay anything monthly, provided one only has 30 transactions per month. This certainly seems to fit the bill in terms of a chequing account I could use on the regular, as a full time student. No monthly fees provide further financial opportunity costs, towards putting money elsewhere. …show more content…
In contrast, there is a smaller limit on the monthly transactions a person is able to perform per month. The difference being 25 transactions for the TD Student account, in comparison to 30 for the BMO account. But even so, a small contrast between these two accounts wouldn't make me want to switch to BMO. As TD Canada trust is canada’s biggest bank, and exist in multiple areas, nearly all throughout Canada. Furthermore, credit cards linked to TD provide an easy way to communicate with same customer service every time, i.e the bank itself. As such, moving to another bank would not only entail changing credit cards, but also the time period it takes to make the change. Thus, switching to BMO or another bank for that matter, would seem like too much of a hassle for such a rash reason of 5 less
As an avid TD Canada Trust user, I’ve always had a chequing account with them. Before I did some research today, I had previously assumed that most chequing accounts between banks carry the same perks. However, that theory has clearly been debunked, as I entailed on my research trip.
One thing i noticed is the plethora of bank fees, that each bank carries. BMO for instance has a variety of “plans” to decide upon, which allow a finite amount of transactions per month, to possibly unlimited transactions. A general plan consists of a monthly fee of $14.95 per month, allowing unlimited transactions. Consequently, A student discount is also offered providing the opportunity to not pay anything monthly, provided one only has 30 transactions per month. This certainly seems to fit the bill in terms of a chequing account I could use on the regular, as a full time student. No monthly fees provide further financial opportunity costs, towards putting money elsewhere. …show more content…
In contrast, there is a smaller limit on the monthly transactions a person is able to perform per month. The difference being 25 transactions for the TD Student account, in comparison to 30 for the BMO account. But even so, a small contrast between these two accounts wouldn't make me want to switch to BMO. As TD Canada trust is canada’s biggest bank, and exist in multiple areas, nearly all throughout Canada. Furthermore, credit cards linked to TD provide an easy way to communicate with same customer service every time, i.e the bank itself. As such, moving to another bank would not only entail changing credit cards, but also the time period it takes to make the change. Thus, switching to BMO or another bank for that matter, would seem like too much of a hassle for such a rash reason of 5 less