No Min Balance, Unlimited Transactions debit

[sexpuppet6000]

I've been with Td bank my entire life. I have one of the basic chequing accounts. It requires me to keep a min balance of $1500 for me to get x number of free transactions. If I drop uner that balance I have to pay a fee.

RIght now I make a few thousand a month but I always move that money elsewhere almost right away. Keeping my min balance at td. But sometimes I venture too close, and i end up being under $1500. Im sick of it!

Are there any no balance/unlimited transcations debit accounts for students?

[funky_monkey_99]

if unlimited no fee cheque acct is what your looking for then PC Financial is the place you should be at..unlimited debit transactions, free cheques. The only downside to this is there are no tellers you gotta do everything on a machine.

[sexpuppet6000]

online banking?

[HighFlyer]

BMO has a free student account, but the transactions are limited to 30.

[st7860]

online banking?
www.pcfinancial.ca

[pitz]

March into your local TD and apply for a line of credit. Switch all of your banking over to it, and then close your chequing account.

[Bullseye]

March into your local TD and apply for a line of credit. Switch all of your banking over to it, and then close your chequing account.

I do something similar, I run everything through the LOC, but also keep an aaccount open, the most basic one. Costs me $4/month, but it allows me some added flexibility.

[gman]

I do something similar, I run everything through the LOC, but also keep an aaccount open, the most basic one. Costs me $4/month, but it allows me some added flexibility.

I do something similiar to you too. I am with CIBC. Run everything through LOC. Keeping a great-great-great grandfather chequing-saving account which costs me $.95 per month. The good thing in CIBC is there is no transaction charge if the money is moved between CIBC products.

One can open a no monthly fee (but no free transaction except transfer between CIBC product) account and a LOC account in CIBC. In that case, you should be able to do everything without paying any fee. I did not practice this particular way though. I just think that should work. You should verify this yourself.

[ak47num1]

Does having a LOC lower one's credit rating?

[st7860]

Does having a LOC lower one's credit rating?

No, that would only happen if you regularly owe a balance of more than about 60% of the credit limit. so get the biggest LOC you can get.

[Monsoon]

Royal Bank has an unlimited debit account but it'll cost you $12/month.

[john widow]

What is a line of credit?

[st7860]

What is a line of credit?

its like a credit card that you access with your debit card BUT the interest rate will usually be MUCH MUCH lower than a credit card.

some banks such as TD BANK also give you checks with which to use your line of credit, with NO service charges. that means if you prepay the entire amount you wish to spend on 'credit', it costs you nothing. You can use it as an unlimited checking account, along with the usual online banking system with which to pay your bills with no fees(as long as you have deposited enough money first)