Comments on: $100 BANK NSF FEE? http://adawnjournal.com/2009/02/16/100-bank-nsf-fee/ A blog on Personal Finance, Investing, Entrepreneurship, and More Wed, 28 Jul 2010 20:55:59 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Neil http://adawnjournal.com/2009/02/16/100-bank-nsf-fee/comment-page-1/#comment-1019 Neil Mon, 13 Apr 2009 22:59:56 +0000 http://adawnjournal.com/2009/02/16/100-bank-nsf-fee/#comment-1019 It was actually the process of switching banks that led to me experiencing TD's exhorbitant NSF charges. Changing banks is a massive pain in the ass, and at one point, an automatic payment that should have been moved to the new account came out of the old account, after I'd moved all my money. Anyways, the (less than friendly) folks at Enmax eventually acquiesced to covering the fee, since it they'd screwed up on two counts with it - both in taking longer than their stated 10 business days to change the account, and also not taking the money on time (they do this a lot). Glad to be done with TD. 2 more years until I can move my mortgage, too. It was actually the process of switching banks that led to me experiencing TD’s exhorbitant NSF charges. Changing banks is a massive pain in the ass, and at one point, an automatic payment that should have been moved to the new account came out of the old account, after I’d moved all my money.

Anyways, the (less than friendly) folks at Enmax eventually acquiesced to covering the fee, since it they’d screwed up on two counts with it – both in taking longer than their stated 10 business days to change the account, and also not taking the money on time (they do this a lot).

Glad to be done with TD. 2 more years until I can move my mortgage, too.

]]> By: A.D. http://adawnjournal.com/2009/02/16/100-bank-nsf-fee/comment-page-1/#comment-966 A.D. Mon, 16 Mar 2009 23:36:34 +0000 http://adawnjournal.com/2009/02/16/100-bank-nsf-fee/#comment-966 I do not know/have no knowledge of an amendment to the Bank Act due to the scenario you mentioned above. However, it is unlikely that financial institutions will broadcast anything to reduce their fees-unless you speak out. Take me, for an example. I carry an annual fee credit card and still pay no annual fee. Do you think they will ever want consumers to know that it is possible? I don't think so. How I do it? Read it here - http://adawnjournal.com/2007/08/23/updated-is-it-possible-to-hold-an-annual-fee-credit-card-and-still-pay-no-annual-fee/ I do not know/have no knowledge of an amendment to the Bank Act due to the scenario you mentioned above. However, it is unlikely that financial institutions will broadcast anything to reduce their fees-unless you speak out. Take me, for an example. I carry an annual fee credit card and still pay no annual fee. Do you think they will ever want consumers to know that it is possible? I don’t think so. How I do it? Read it here – http://adawnjournal.com/2007/08/23/updated-is-it-possible-to-hold-an-annual-fee-credit-card-and-still-pay-no-annual-fee/

]]> By: Carl Burns http://adawnjournal.com/2009/02/16/100-bank-nsf-fee/comment-page-1/#comment-965 Carl Burns Mon, 16 Mar 2009 18:37:50 +0000 http://adawnjournal.com/2009/02/16/100-bank-nsf-fee/#comment-965 I have a question that I cannot seem to find an answer for. Let me preface the question with this short story. Several years ago CBC radio program As It Happens interviewed an elderly gentleman from Toronto who had a beef with his bank (RBC) over bank fees being charged after age 65. The gist of the story was that the man won his fight against the Royal Bank over the charging of bank fees for everyday services. Has the bank act been changed to eliminate this rule or is it something that the banks certainly won't go out of their way to broadcast (advertise)but if you provide proof of age, the bank has to comply and not make a charge for checking accounts, etc. Everyday banking stuff. I appreciate that loans to the elderly carry interest rates but this is regarding the everyday bank fees. The man not only got a refund from the Royal but also got back bank fees charged to his wife's accounts as well. So that's my question. I have a question that I cannot seem to find an answer for. Let me preface the question with this short story. Several years ago CBC radio program As It Happens interviewed an elderly gentleman from Toronto who had a beef with his bank (RBC) over bank fees being charged after age 65. The gist of the story was that the man won his fight against the Royal Bank over the charging of bank fees for everyday services.
Has the bank act been changed to eliminate this rule or is it something that the banks certainly won’t go out of their way to broadcast (advertise)but if you provide proof of age, the bank has to comply and not make a charge for checking accounts, etc. Everyday banking stuff. I appreciate that loans to the elderly carry interest rates but this is regarding the everyday bank fees.
The man not only got a refund from the Royal but also got back bank fees charged to his wife’s accounts as well. So that’s my question.

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