PC Financial charges extra fee for ATM withdrawal?

[M.D.]

I took out money at a BMO ATM and it did charge me a $1.50 service fee.
When I got home, I checked my online statement and PC Financial charged me an extra $1.50.
So total charges were $3.00!
Is this right?

[PurpleTiger]

yes

[seshwan]

Welcome to the 21st century my friend. Better late than never I always say.

[ohnabatko]

I took out money at a BMO ATM and it did charge me a $1.50 service fee.
When I got home, I checked my online statement and PC Financial charged me an extra $1.50.
So total charges were $3.00!
Is this right?
:cheesygri :cheesygri :cheesygri Buahahahaha! My friend -- aren't you misplacing BMO for CIBC?! Seriously, welcome to the 21 century again and next time try using the CIBC machines...you know the big red ones with a greenish slot. Makes a difference... ;)

[M.D.]

:cheesygri :cheesygri :cheesygri Buahahahaha! My friend -- aren't you misplacing BMO for CIBC?! Seriously, welcome to the 21 century again and next time try using the CIBC machines...you know the big red ones with a greenish slot. Makes a difference... ;)

YorkU doesn't have any CIBC ATM's, so I was forced to use the BMO ones.
I used to have a BMO account and they never charged that extra $1.50.
Never tried it with PCF until now since I really had to get cash that day.
Thanks for the kind responses :)

[jvangilst]

They charged you for using someone else's bank machine. You should only use the bank machine for your card, so PC or CIBC.

[tkyoshi]

YorkU doesn't have any CIBC ATM's, so I was forced to use the BMO ones.
I used to have a BMO account and they never charged that extra $1.50.
Never tried it with PCF until now since I really had to get cash that day.
Thanks for the kind responses :)

If you had BMO and used a CIBC/PC Financial machine, then you might have been charged the same fee.

The key is to use your OWN BANK's ATM's. But ya if it's an emergency, what can ya do.

[M.D.]

If you had BMO and used a CIBC/PC Financial machine, then you might have been charged the same fee.

The key is to use your OWN BANK's ATM's. But ya if it's an emergency, what can ya do.

Yah..I was just wondering if I got double charged that's all.

[xsighted]

YorkU doesn't have any CIBC ATM's, so I was forced to use the BMO ones.
I used to have a BMO account and they never charged that extra $1.50.
Never tried it with PCF until now since I really had to get cash that day.
Thanks for the kind responses :)

well .. BMO has a free banking plan for students .. if you stay on campus much ... i think u should consider this plan ..

[M.D.]

well .. BMO has a free banking plan for students .. if you stay on campus much ... i think u should consider this plan ..

Do I need to put in a minimum amount in the account to not get charged monthly fees?

[bluedcfive]

I took out money at a BMO ATM and it did charge me a $1.50 service fee.
When I got home, I checked my online statement and PC Financial charged me an extra $1.50.
So total charges were $3.00!
Is this right?

congratulations and welcome to using ATMs in Canada.

[dav1209]

if you don't want to get charge fee and using BMO
try the HSBC direct account...no minimum and unlimited transaction at any HSBC BMO and the exchange ATMs
i was at York as well and it the pain in the ass when u need cash...but i guess HSBC direct will be right for your need
forget to mention 3.5% interest is a plus

[dav1209]

forget to mention a promotion give you $25 if u keep $100 in their account
here is the link
http://www.hsbcdirect.ca/1/2/hsbcdirect?WT.mc=1&WT.mc_id=HBCA_2007_15_03_Cam0_DSA_Wnet_Girl_1

[mrcantrell]

YorkU doesn't have any CIBC ATM's, so I was forced to use the BMO ones.

Granted it's been many years York did have a CIBC when I was there, I think it was in the eating area near York Lanes. Otherwise there might be one outside the bookstore on the Seneca Campus. I really can't remember, but I know there used to be one. Ask around.

And as for your fee, BMO charges you a fee to use their machine and then PCF charges you a fee for not using their machine. Just be glad it was only $3.00.

[xsighted]

Do I need to put in a minimum amount in the account to not get charged monthly fees?

nope ... check this link ..

http://www4.bmo.com/rpopup/0,4442,35649_13527375,00.html

[ramoose]

YorkU doesn't have any CIBC ATM's, so I was forced to use the BMO ones.
I used to have a BMO account and they never charged that extra $1.50.
Never tried it with PCF until now since I really had to get cash that day.
Thanks for the kind responses :)

there is a CIBC at finch and keele

[M.D.]

there is a CIBC at finch and keele

yes I know, it's a bit of a walk.
I had to withdraw cash because the post office in InkBlots doesn't accept c/c nor debit and the store was closing in 5 min.

[march9]

I took out money at a BMO ATM and it did charge me a $1.50 service fee.
When I got home, I checked my online statement and PC Financial charged me an extra $1.50.
So total charges were $3.00!
Is this right?

no total charge is $1.50, for using PC(CIBC) card on BMO machine.
PC deducts the money from ur account, they will need to give that to BMO though.

[M.D.]

no total charge is $1.50, for using PC(CIBC) card on BMO machine.
PC deducts the money from ur account, they will need to give that to BMO though.

thats what I was thinking. Maybe I did get double charged.

The only way to find out is to give them a call! Will update tomorrow.

[rborek]

no total charge is $1.50, for using PC(CIBC) card on BMO machine.
PC deducts the money from ur account, they will need to give that to BMO though.

Incorrect - the first $1.50 is charged directly by the bank machine for using it (it's added onto the withdrawl amount). The other $1.50 is the Interac usage fee charged by the bank - this appears as a fee charge on the account. Total cost: $3.00.

[M.D.]

Incorrect - the first $1.50 is charged directly by the bank machine for using it (it's added onto the withdrawl amount). The other $1.50 is the Interac usage fee charged by the bank - this appears as a fee charge on the account. Total cost: $3.00.

hawt damn, i had my hopes up for a minute.
i guess i'll have to accept my fate and reopen a BMO account :D

[OptimusPrime]

Know you guys are in Ont but vancity credit union has free youth chequing account for anyone under 25. I'm coming up on 25 and looking for a transaction free account - any ideas? Someone before was saying hsbc had a free online account but I missed the boat on the $25 promo.

[twotterdhc6]

Know you guys are in Ont but vancity credit union has free youth chequing account for anyone under 25. I'm coming up on 25 and looking for a transaction free account - any ideas? Someone before was saying hsbc had a free online account but I missed the boat on the $25 promo.

Since you're already with Vancity, you should take a good look at Citizens Bank. Their Ultimate account is a free unlimited transactions account, plus free ATM at any Exchange location.

[st7860]

instead, get a credit card and use it. for example, you can even use a visa card at 7-11 to buy a $6 bottle of milk. The clerk might not be happy about it, but according to Visa/MC rules, you can use your card for any amount of purchase, no matter how small.

[Darkman]

Consider, for your case scenario, the HSBC Direct account maybe then..

Cuz with them .. - unlimited withdrawals and bill payments, and quite high interest rate - currently 3.5% on the entire balance...

No minimum amount is required to make that interest or NOT to be charged any fees..

And maybe what would be best for your particular case - any HSBC machines are "your" machines and no Interac fees therefore..

BUT.. / .. AND .. and it's a big BUT and AND for your in particular - any BMO bank machine is also "your" bank machine.. and NO Interac changes then therefore also..

And little bonus from them currently - open bank account with them (by certain date) ..and maintain 100 bucks in it by certain date also - and they will give you $25 bucks present / deposted to your bank account .. at a certain date as well :D

Check it out anyhow:
http://www.hsbcdirect.ca/1/2/hsbcdirect

I, by the way, also have PCF account (not a bad product) .. and an Achieva / Outlook accounts (not bad products also) .. - but when i saw this HSBC direct offer - i just signed up for it .. right away.. - cuz i tend to keep say 3 or 4 or 5 thousand always in my PCF account.. and pay bills etc with this money.. - but unless i keep it in PCF savings account - they don't pay much interest at all nowadays (not as used to be before - keep 10,000 bucks in it..and get highest tier.. they changed it long ago)

So this way i am thinking.. - i will leave less money in PCF .. say 1,000 only..(for this and that.. and for convinience)
BUT .. will transfer about 3,000 or 4,000 to HSBC direct ... and pay all my bills etc from there.. (they are not that large anyhow.. but i like to have few thousand in my account that are just there .. - but this way.. - by just being there .. they will make 3.5%, instead of nothing in PCF ... - and also will give me more flexibility .. - more FREE access to more bank machines (will be not only PCF and CIBC machines from PCF account, but now also HSBC (there is one in Winnipeg, lol) and BMO machines (there are many) .. and even some other machines belonging to some "THE EXCHANGE. User licensed in Canada by FICANEX Services Limited partnership on behalf of Fiserv EFT." ( http://www.hsbcdirect.ca/1/2/hsbc-direct/learn-more ) .. - and i have to research more on this "THE EXchange" thingy .. ( will do soon :) ) .. but as far as i understood (from HSBC CSR) .. any bank machine that has "THE EXCHANGE" simbol on it.. will be a "home" bank machine for this HSBC direct account and will not incur Interac charges.. - and CSR told me .. that National Banks machines in Winnipeg would belong to that "The Exchange" .. - if so .. then they will be "home" bank machines also...

lol, also HSBC CSRs are their by the phone 24/7, 365 days a year (if you really say need them) .. same as PCF CSRs were in the beginning (but now they cut this out at PCF also.. CSRs are not 24/7 there any longer .. - i think from morning to midnight or 11 pm or something like that)

Sorry for messy typing.. i type fast ..and in this style. ;)

I hope this info helps someone...

P.S. - Does anyone know more maybe on this "THE EXCHANGE" / "THE EXCHANGE" Atm machines?
If so - please share that info with us here... (even though i am planning to go google it soon somewhat, on my own, to see what i can find about it) :cheesygri

P.S. #2 .. - oh! .. i forgot to mention .. as far as virtual accounts are concerned .. - i also have an ING Direct account.. - that currently i hardly use or keep any money in ..
AND also .. for few months now.. have that 4.15% account that is located under E-Trade Canada umbrella (as part of their investment options there.. it's quite new ..and not too bad.. - i keep some cash there.. - would be convinient if want to buy some stock ..money is right there and meanwhile earning 4.15% .. and also CAN transfer money in and out from that account to other banks that you can choose to attach to the "accounts you can transfer money to and from" ...
Interest is paid somewhat strange there.. - on 16th of each months.. - but i am giving them a chance .. and will see what happens.. (like flexibility of being able to transfer money easily .. and FREE (and not just once a months for FREE as with Achieva and Outlook accounts) . .and 4.15% helps too..

Achieva and Outlook pay 4.10% currently .. - one free withdrawal / check per month, after that you are charged $1 for each additional (if they occur) .. (for bill payments though Achieva (not sure about Outlook) charges .50 cents a bill regardless of the amount of the bill (used it few times when needed to transfer Money to E-trade (after my Free monthly debit was used) .. so instead of $1 .. this way was only .50 cents, lol (cuz Etrade could be paid / set up as a Bill payment :D

[Darkman]

There... this Google's search - http://www.google.ca/search?hl=en&q=THE+EXCHANGE+FICANEX+&btnG=Search&meta=

..found me some links already on this "thingy" .. for example:
http://www.the-exchange.ca/default.aspx?PageID=1000&LangID=en
or
http://www.ficanex.ca/atmlocator.aspx?pageID=1006&langID=en

I will educate myself somewhat on it now... :razz:

Yup.. there are FREE and many around.. (even though in Winnipeg - it's only HSBC and National Bank that belongs to The Exchange) .. but other provinces / cities - there are bunch!

Check it out here.. for the entire list:
http://www.the-exchange.ca/default.aspx?PageID=1003&LangID=en

From the same page there:

"WELCOME TO THE EXCHANGE® NETWORK

Your ATM Network

BE DING-FREE!

The banks and credit unions on THE EXCHANGE® Network have agreed to never charge each other’s cardholders surcharge fees. You will never pay any additional fees to access your own money even if you use another Financial Institution’s ATM. Yes, you still have to pay your normal account fees but that’s it, nothing extra. This truly means that if you are a bank customer you can use the credit union ATMs and Credit Union members, you can use the bank ATMs on THE EXCHANGE® network without incurring any surcharges. Just look for THE EXCHANGE® logo at or near the ATM to be ding-free.

DEPOSIT INFORMATION

Whether you’re a Newfoundland Credit Union member or a BC bank customer you can use any of the deposit-taking ATMs on THE EXCHANGE® network to make a deposit. Really! If your financial institution is listed below you can deposit in any Province, at any deposit-accepting ATM, regardless of where your account is held.

US ACCESS

When you’re traveling within the USA, THE EXCHANGE® is still available to you. Just look for THE EXCHANGE® logo. The majority of Exchange ATMs in the USA are also surcharge free but you may find that some states will have a nominal charge.

If your Financial Institution has signed up for ACCEL® Point of Sale (POS) in the United States, just like at home, purchases in the United States may be paid for using your debit card. Just swipe and verify the transaction with your confidential PIN. For more information on the US Point of Sale network ACCEL®, please click here.

You can access thousands of ATMs across Canada and the USA. Check out THE EXCHANGE® ATM Locator...."

actually Here is the end of this copy/paste .. with all the locations in Canada:

"Participating Financial Institutions By Province

Alberta

Canadian Western Bank
Citizens Bank of Canada
HSBC Bank Canada
National Bank of Canada

BC

Aldergrove Credit Union
Bulkley Valley Credit Union
C.C.E.C. Credit Union
Citizens Bank of Canada
Coast Capital Savings Credit Union
Coastal Community Credit Union
Columbia Valley Credit Union
Community Savings Credit Union
Compensation Employees Credit Union
Creston & District Credit Union
Cumberland & District Credit Union
East Kootenay Community Credit Union
Enderby & District Credit Union
Envision Financial
G&F Financial Group
Grand Forks District Savings Credit Union
Greater Vancouver Community Credit Union
Greater Victoria Savings Credit Union
Heritage Credit Union (BC)
HSBC Bank Canada
Integris Credit Union
Interior Savings Credit Union
Island Savings Credit Union
Khalsa Credit Union
Kootenay Savings Credit Union
Ladysmith & District Credit Union
Lake View Credit Union
Mount Lehman Credit Union
National Bank of Canada
Nelson & District Credit Union
North Peace Savings & Credit Union
North Shore Credit Union
Northern Savings Credit Union
Operating Engineers Credit Union
Osoyoos Credit Union
Powell River Credit Union
Prospera Credit Union
Quadra Credit Union
Revelstoke Credit Union
Salmon Arm Savings & Credit Union
Sharons Credit Union
Spruce Credit Union
Squamish Savings, A Division of Vancity
Summerland & District Credit Union
Sunshine Coast Credit Union
Ubiquity Bank of Canada
Union Bay Credit Union
Valley First Credit Union
Van Tel/Safeway Credit Union
Vancity Savings Credit Union
VantageOne Financial Services
VP Credit Union
Westminster Savings Credit Union
Williams Lake & District Credit Union

Manitoba

HSBC Bank Canada
National Bank of Canada

New Brunswick

Advance Savings Credit Union
Beaubear Credit Union
Blackville Credit Union
Capital Credit Union
Carleton Pioneer Credit Union
Dalhousie Industrial Credit Union
Deer Island Credit Union
HSBC Bank Canada
McAdam Credit Union
National Bank of Canada
New Brunswick Teachers Assoc. CU
OMISTA Credit Union
Prosper Credit Union
Public Service Employees Credit Union
Rexton Credit Union
York Credit Union

Newfoundland

Brook Street Credit Union
CBC Credit Union
Codroy Valley Credit Union
Community Credit Union
Eagle River Credit Union
EasternEdge Credit Union
First Coastal Credit Union
Hamilton Sound Credit Union
HSBC Bank Canada
Humber Valley Credit Union
Newfoundland & Labrador Credit Union
Public Service Credit Union (NFLD)
Reddy Kilowatt Credit Union
Tri-Island Credit Union

Nova Scotia

Acadian Credit Union
Bay St. Lawrence Credit Union
Bergengren Credit Union
Caisse populaire de Clare
Coady Credit Union
Coastal Financial Credit Union
Community Credit Union Of Cumberland Colch
Credit Union Atlantic
Dominion Credit Union
East Coast Credit Union
Glace Bay Central Credit Union
Halifax Civic Credit Union
Heritage Credit Union
HSBC Bank Canada
iNova Credit Union
LaHave River Credit Union
Main-A-Dieu Credit Union
Manulife Bank of Canada
New Glasgow Credit Union
New Ross Credit Union
New Waterford Credit Union
North Sydney Credit Union
Princess Credit Union
Province House Credit Union
St. Joseph's Credit Union
Steel Centre Credit Union
Sydney Credit Union
Teachers Plus Credit Union
Valley Credit Union
Victory Credit Union
Whitney Credit Union

Ontario

All Trans Financial Services Credit Union
Alterna Bank
Alterna Savings
Anishinabek Nation Credit Union
Apple Community Credit Union
Atlas & Civic Employees' CU
Auto Workers Community Credit Union
Bay Credit Union
Bayshore Credit Union
Campbell's Employees' (Toronto) Credit Union
Canal City Savings & Credit Union
Cataract Savings & Credit Union
Citibank Canada
City Savings & Credit Union
CN (London) Credit Union
Community First Credit Union
Community Savings & Credit Union
Croatian (Toronto) Credit Union
Dana Canada Employees' Credit Union
Dunnville & District Credit Union
Education Credit Union
Equity Credit Union
Espanola & District Credit Union
Estonian (Toronto) Credit Union
ETCU Financial Credit Union
Federal Employees Credit Union
Finnish Credit Union
Food Family Credit Union
Fort Erie Community Credit Union
Fort York Community Credit Union
Frontline Financial Credit Union
Ganaraska Credit Union
Grand River Credit Union
Health Care Credit Union Ltd.
Heritage Savings & Credit Union
HSBC Bank Canada
IC Savings & Credit Union
Kakabeka Falls Community Credit Union
Kellogg Employees Credit Union
Kenora District Credit Union
Kingston Community Credit Union
L.I.U.N.A. Local 183 Credit Union
Lakewood Credit Union
Libro Financial Group
London Civic Employees' Credit Union
Manulife Bank of Canada
Media Group Financial Credit Union
Member Savings Credit Union
MemberOne Credit Union
Mennonite Savings and Credit Union
Meridian Credit Union
Mitchell & District Credit Union
Motor City Community Credit Union
National Bank of Canada
Northern Credit Union
Northern CU Ltd (formerly West Fort William CU)
Northern Lights Credit Union
Northland Savings and Credit Union
Northridge Savings Credit Union
Ontario Civil Service Credit Union
Ontario Educational Credit Union
Ontario Provincial Police Credit Union
Oshawa Community Credit Union
Ottawa Police Credit Union
Ottawa Women's Credit Union
Parama Lithuanian Credit Union
PenFinancial Credit Union Ltd.
Peoples Credit Union
Peterborough Community Credit
Polish Alliance (Brant) Credit Union
Prime Financial Savings & Credit Union
Provincial Alliance Credit Union
QuintEssential Credit Union
Railway Employees' Credit Union (Ont.)
Rochdale Credit Union Ltd. (Ont.)
Saugeen Community Credit Union
Southwest Regional Credit Union
Standard Tube Employees Credit Union
Starnews Credit Union
Sudbury Credit Union
Sunnybrook Credit Union
Superior Credit Union (Ont.)
Sydenham Credit Union
Taiwanese-Canadian Credit Union
Talka Lithuanian Credit Union
Teachers Credit Union
Thamesville Community Credit Union
The Fire Department Employees Credit Union
The Police Credit Union
The Toronto Municipal Employees' CU
Thorold Community Credit Union
Toronto Catholic School Board Employees CU
Toronto Electrical Utilities Credit Union
Unigasco Community Credit Union
United Communities Credit Union
Unity Savings & Credit Union
Victory Community Credit Union
Virtual One Credit Union Limited
Windsor Family Credit Union
Your Credit Union
Your Neighbourhood Credit Union

Prince Edward Island

Central O'Leary Credit Union
Consolidated Credit Union
Evangeline Credit Union
Malpeque Bay Credit Union
Metro Credit Union
Montague Credit Union
Morell Credit Union
National Bank of Canada
Souris Credit Union
Stella Maris Credit Union
Tignish Credit Union

Quebec

Alterna Bank
Alterna Savings
HSBC Bank Canada
National Bank of Canada

Saskatchewan

Affinity Credit Union
HSBC Bank Canada
National Bank of Canada
Nokomis Savings Credit Union
North Valley Credit Union
Prairie Pride Credit Union
TCU Financial Group

.. Not too bad! :D

[st7860]

Consider, for your case scenario, the HSBC Direct account maybe then..

interest rate - currently 3.5% on the entire balance...


http://www.hsbcdirect.ca
"Interest paid on balances up to $1 million."

[Darkman]

Ya.. i saw that...

and even talked to CSR about it :)

Basically - just make sure NOT to keep over 1,000,000 dolars there :D

I am planning to only keep there say 3 or 4 thousand anyhow.. - so i ll be OK! :cheesygri

--
P.S.. but actually, ya.. then i guess i should appologize for not too accurate info.. -----> on the entire balance would be wrong.. on 1st million is more like it..

But that's OK.. there are instruments that pay more then 3.5 % anyhow .. ( so for large sums of money.. - use those ... or use those as well)

So this bank is only for conviniece(s) / flexibility mentioned above and at the bank's site .. and meanwhile to make 3.5% on your money .. while you are at it (experiencing "convinience and flexibility" that is...) ;)

[Darkman]

If you need all the addresses for your geographical location's ATMs .. belonging to THE EXCHANGE program, input, for example, your province / city Here:
http://www.the-exchange.ca/default.aspx?PageID=1006&LangID=en

[OptimusPrime]

I called the hsbc 1-800# about free abms since I was going camping for the long weekend. Appearently, they have an online tool with all free abm listed. It's at: hsbc.ca/abm. Even if there is no abm, interac purchases such as gas & groceries, purchases in the mall, movies, whatever - it's all free so tons of savings for daily use.

I just find it funny that pcf is actually cibc but they charge to withdraw $ from cibc abms.

[matradley]

I just find it funny that pcf is actually cibc but they charge to withdraw $ from cibc abms.

PCF does not charge for using CIBC machines. The OP was referring to using another bank machine.

[Darkman]

correct.. with PCF you can withdraw money NO CHARGE .. at any CIBC atm machine .. as well as.. at any PCF atm machine of course...

[OptimusPrime]

So does pcf charge for:
- withdrawals at "home" (cibc & pcf) machines / is there an account fee to take money out?
- interac purchases / account fee associated with this?

[sPiKyAZN]

So does pcf charge for:
- withdrawals at "home" (cibc & pcf) machines / is there an account fee to take money out?
- interac purchases / account fee associated with this?

Nope no fees there. The only time you'll get charged is when you use a non CIBC/PCF bank machine.

[setell]

So does pcf charge for:
- withdrawals at "home" (cibc & pcf) machines / is there an account fee to take money out?
- interac purchases / account fee associated with this?

Nope. PCF's pretty much based their whole banking structure on their "no fee" banking. You don't pay to withdraw/deposit at any PCF or CIBC atm machines. You also get unlimited interac transactions. Oh you also get free personal cheques with the PCF no fee chequing account.

Oh I noticed something I read with one of Darkman's posts how you don't get any interest with PCF but 3.5% at HSBC. You get 4% with PCF's interest plus savings account. You just have to transfer funds back and forth from the PCF no fee chequing to interest plus savings account vice versa. But I guess you want the flexibility of having access to the HSBC network too.

[brunes]

instead, get a credit card and use it. for example, you can even use a visa card at 7-11 to buy a $6 bottle of milk. The clerk might not be happy about it, but according to Visa/MC rules, you can use your card for any amount of purchase, no matter how small.

Clerk not happy about a $6 dollar of milk? Screw that - I have used my MC to buy a $0.49 ice cream before at McDonalds (5 years ago or something udring that summer they were $0.49).

[brunes]

Consider, for your case scenario, the HSBC Direct account maybe then..

Cuz with them .. - unlimited withdrawals and bill payments, and quite high interest rate - currently 3.5% on the entire balance...


How much do they charge for Interac purchases though?

I use probably 40-50 interac purchases a month with PCF - I only need to take out cash maybe 2-3 times a month.


P.S. - Does anyone know more maybe on this "THE EXCHANGE" / "THE EXCHANGE" Atm machines?
If so - please share that info with us here... (even though i am planning to go google it soon somewhat, on my own, to see what i can find about it) :cheesygri

National bank is the other large bank that is part of THE EXCHANGE. They have a website that lists all member ATMs:

www.the-exchange.ca

[tkyoshi]

How much do they charge for Interac purchases though?

HSBC Direct Savings - No Charge