I have used 2 free bank accounts since I was 13 here in Canada. One was with PC Financial and the other was with a local credit union. PC Financial is provided by CIBC and you sign up for it at the Superstore. It way okasy for what it's worth. ATM's only, unlimited free use of CIBC ATMs, can clear cash and came with a savings account. I have to say that I like the credit union account more. You get teller service, free use of any credit union and could do more more than the CIBC account. Since then, I have never used big banks.
Good for you. I think credit unions do give big banks a run for their money. A lot of times I have found better rates for a loan, and higher interest on your money. As long as the amounts you have are within the insured guidelines, your money is safe. After the bank bailout...wonder how many are tired in the US of the big banks. I think if you get what you need from a bank or credit union, stick with it, a "big name" really adds nothing to your pocket without being competitive in rates, loans and customer service.
I've used PCF for over 12 years and they are phenomenal. The only headache is that they're no use, when you travel outside of North America. However, while in Canada, they're great. Its literally free, free, free. People never believe me, when I tell them that I don't pay monthly bank fees or for cheques.
Yeah they were pretty good. The reason I left was because they wanted to charge me money to sign a direct deposit form. They wanted $20 and they would not give me cheques because I was under 19. Coast Capital Savings gave me a equivlelant of a void cheque which satisfied welfare's direct deposit requirements. Overall the service is way better.
Where I'm from almost every bank offers free accounts as long as you deposit a minimum of (~$400) when opening the account, I'm not sure what the international banks' policies are though.
