Hubby and I recently switched banks in an effort to save money on bank fees. We didn’t leave our former bank on bad terms, we were just looking to free up a little room in our monthly budget so we switched to a no-fee bank.This change hasn’t been without a few bumps in the road but yesterday was my breaking point.
It’s 2013 and I still get my paycheque in physical cheque form. I’m not kidding. I think I’m the last person in the world who gets paid this way. I went to university for six years to get this education you’d think my employer would offer direct deposit but the fact is that there are less than ten employees and direct deposit is very expensive. Our office manager can take care of it all. Though it can be a bit of a scramble to get paid on time when the boss is on vacation, they’re pretty good at making sure we have it on time, often paying is early if needed.
Needless to say, having holds on deposits for us is not an option. We can’t afford to deposit my income and have it held for five days while the cheque clears. It would totally screw up our budget and bill paying system. When I brought these points up to our current bank they basically said there’s nothing they can do other than offering us an immediate access to funds upwards of $200. Sorry this isn’t going to work. I called to complain yesterday and asked to speak to the supervisor. She basically said her hands were tied, there was nothing they could do to help us.
If I had an actual branch to deal with would be more options for us in terms of immediate access to funds; or with teller services, having certain cheques cleared.
I respect that new customers at banks may have a short initiation period of sorts but c’ommon! I mean charge my $2000 or something if I have an NSF, I don’t care what you feel you may need to do to cover your asses I just want immediate access to my money. If we had a bad history I get that, but we don’t.
I didn’t realize how much I enjoyed the amenities of a traditional banking system until I didn’t have them. Though I rarely use the teller services, I like having the option when issues arise. I like figuring problems out face-to-face and building relationships with the people who hold my money. I miss being able to call the bank to ask Betty/Bob/Ben a question. I miss the people.
And so, next week hubby and I have an appointment with the bank that holds our mortgage and RESP to see what we can work out in terms of opening new accounts with them. Based on the conversation I already had with them it sounds promising.
I’m looking forward to sitting down and getting to know people again. Put faces to names and trust the people who hold our money.
What sort of accounts/banking system do you use?
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