Quote:
Originally Posted by Rerun
I'm now seriously thinking of changing everything over from my current bank (BNS) to Tangerine. BNS charges me $12.95 per month ($155.40 per year) for my chequing account. There is no charge with Tangerine plus I get interest on my chequing account.
To me it looks like there is more upside to doing this than downside.... plus if I do this they will give me another $50.
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Just as a follow up to the end of my last post...so my guess was right, there is no monthly fee.
Makes sense, I suppose. Just make sure you read all the fine print. RBC had some promotion going on where you'd get a free iPad Mini for opening a new account. I'm already an RBC client, so couldn't take advantage, but I was skeptical so I looked into it anyway. The account in question had a monthly fee (somewhere between $10 and $15 I think), and from what I read from a Google search, the iPad was the old iPad Mini, not the retina version.
Moral of the story, there's no such thing as a free lunch. I'd be making sure that they weren't making that $50 back somewhere else.