I try to keep my banking fees to a minimum - zero if possible. If I want to transfer money from one bank to another, my bank wants to charge $50 for an electronic fund transfer. This is a huge and unreasonable amount to charge for something that no one does any work for. It is the bank the funds are going into that has the issue (CIBC). I am able to work around this by pulling cash out of one bank (it costs me nothing to do so), walking two blocks to my bank, and depositing it. I wouldn't bill $50 for the physical service, why do the banks want so much to do it electronically? As I do some online work and am paid in small amounts, I would be charged more than the deposit in some cases. While I am able to do the workaround and avoid fees altogether, this still angers me. Are all banks really that out of touch?
What I hate is my bank's extended overdraft fee. I can understand the first overdraft fee when you're overdrawn, but I think it's ridiculous to charge a second overdraft fee just for being overdrawn more than 5 days.
