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Originally Posted by tkflames
Not related to this specific case..but banks that change the rules really piss me off. Yes I know my account agreement states that rates are subject to change at the banks discretion. This includes reducing the number of free transactions or increasing their fees at their leisure with arbitrary warning. RBC lost $50k worth of assets last week because of $4 in bank fees. I know the other banks are the same garbage but it's the principal that counts.
Coles notes: A person in the banking industry lecturing others on contracts and morals...that's rich my friend...
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Just so I am clear.... You have an account with a bank. They made it clear the fees are subject to change. Some fees changed, and that somehow makes a bank immoral?
I'm not saying banks are perfect, but I work tirelessly to find solutions for my clients that best suit them. Fees are the cost of doing business, and you are going to see "Free (or no fee) Accounts" eliminated. This is due to to the fact that small accounts with small balances actually end up costing the bank money.
Coles notes: Bank provide a service. If you don't like the service, you have numerous options.