It Pays to Save

Thu, 03 Aug 2006 09:08:03 -0700

I never thought I would say this but I became an advocate for PC Financial. After many years with Bank of Montreal, I became frustrated with their transaction fees. I get charged $5 per month for transaction fees like Interac, which is my preferred method of payment. On top of that, I only get pennies worth of interest for putting money into the bank in which BOM is using to make more money for themselves. So with the advice of my sister, I opened up an account in PC Financial. My sister was raving about how she gets more interest from PC than other banks and that she doesn’t have to pay for service charges. Initially I had my doubts because why would a supermarket venture out into finance? It didn’t make sense to me but I tried it anyways because I wasn’t getting any good service from BOM. After I signed up, it was the best thing that happened to me financially. I see the interest rolling in. I didn’t have to pay for any transaction fees at all. It was convenient because I didn't have to go to Superstore for the ATM machine. I could use CIBC's ATM machines as well. I was actually rewarded for putting money into the bank! Because I was so satisfied, I got a MasterCard from PC financial as well. Now I collect points and every $2000 I use on my credit card, I get $20 worth of groceries. Sweet! So, from then on, I’ve been telling my friends to open an account at PC. They were amazed when I tell them how much interest they can make. They couldn’t believe it. I guess WOM marketing does work because I opened it on the advice of my sister and I've been telling my friends about it. So companies, start treating us better!

ING Direct: sticking it to the monster banks

Fri, 11 Aug 2006 15:56:38 -0700

I have a secret. A virtual mattress, under which I stash virtual money. Money that's hidden from the evil financial pricks at the monster banks (Royal Bank, in my particular case).

I've been a Royal customer since I was about 12. Far from a high-roller, I've got at least a respectable number of years of active clienthood under my belt, from basic savings to credit cards and RSPs.

Here's the thing. They don't know me. They don't need me. They simultaneously ignore and harass me. When I went to them for a mortgage, I think I heard one of them snort under his breath.

They send me, my cat, my cat's fleas and my cat's butt-dreadlocks offers for $50,000 gold Mastercards. They call us during suppertime. But can I reach my local branch to talk to someone when I need to? Frig no. "Of course not," they say, incredulous.

I haven't defected yet. I will once the mortgage is required. In the meantime, I've become addicted to ING Direct, the online bank. You can have an account open in a matter of moments, with no fees, decent interest and - the best f*&*&ing part - no junkmail and telemarketing calls. Open as many accounts as you want - personal, business, whatever.

It's easy. It feels good - both to pay oneself (to save) and to take a teensy piece of the pie away from the monster banks.

I really do mean teensy, but it matters to me just the same.

Sutori - Stories Tagged With 'finance'

It Pays to Save

ING Direct: sticking it to the monster banks