I had been a Royal Bank of Canada customer for over 10 years and paid $4/month without fail. Rain or shine, I paid the fees to the bank to hold my own hard-owned money. I finally decided that it was time to switch and started looking around and found that ING has the best package out there. Some of the feature include:
- Free banking – there are no fees whatsoever
- Free chequebook (first 100 cheques)
- Free ABM access on the Exchange network
- Free e-mail money transfers
- Free overdraft protection upto $250
- Better interest rates than most other banks
- Plus they have an added incentive periodically. For e.g., when you switch your payroll, you get a $100 bonus.
Some may see ING as a hurdle since its mostly a self-serve bank. I do most of my banking online and seldom had to go into a branch and did not see this as a hurdle and perfectly fits my needs.
With the switch to ING, my annual banking costs have gone down from $48 to $0.