Citizens Bank & Other no-fee chequing accounts

[srg83]

So I was browsing that high-interest savings account thread and saw mention of citizen's bank; I'm looking for a no-fee account at the moment and online seems to be the way to go (I have a PC account, but it is a joint account...I would rather have my own account).

Anyway I noticed at Citizens Bank they have an offer on until December 22 where they will give you $50 for opening a new account. I read the terms, and it says the $50 is on condition of an initial deposit of $100. They deposit the $50 to you after 30 days as long as everything is in order, but you have to make sure to keep a minimum balance of at least $100 (or $200 if your initial deposit is $200) for 3 (or 4?) months or else they take back the $50.

That doesn't seem hard to do (maintain a minimum balance of $100 for four months) but I was just wondering if any of the other free banks had an offer like that? I honestly don't know all of the no-fee banks out there other than PC and (now) Citizens Bank.

[srg83]

Oh and I forgot to ask - what debit machines would you use with citizens bank? I know that PC you can use PC / CIBC machines...but what would you use for Citizens?

[angel_wing0]

u can use the "EXCHANGE" atms = credit union atms.

[CorSter]

Citizens Bank can use any ATM on the Exchange Network... some of the largest banks/credit unions on the network include:

HSBC
National Bank/Banque National
Citibank Canada
Alterna Savings/Bank
Meridian Credit Union
VanCity Credit Union

otherwise, pretty much any credit union is on the network.
you can find the closest ATMs to you at http://www.the-exchange.ca/default.aspx?pageID=1006

I've been with Citizens bank for 2 months now and couldn't be happier... I was paying too many ATM fees with TD, but there's an Alterna Savings and National Bank atm on campus here in Ottawa.... and in Toronto i do my banking at the HSBC down the street from me or the Citibank downtown by union station (because i pass through Union alot)

[angel_wing0]

u should have joined 2 months later and get the $50...well guess i m saying that to myself as well --*

[srg83]

Since Alterna is a credit union - could you use Citizens' with Alterna ATMs?

[tng11]

Since Alterna is a credit union - could you use Citizens' with Alterna ATMs?

Yes you can. My Citizen's card can deposit/withdraw at Alterna ATMs.

[angel_wing0]

Since Alterna is a credit union - could you use Citizens' with Alterna ATMs?

well u answered your own question, so yeah :D

[lame23]

I was reading on the citizens banks website that the ulitmate savings account have free 4 withdrawals and one can use the interac abm networks to withdraw.... and here is the fine print

1 When you use an ATM to withdraw cash, the network owners (INTERAC Network, Plus, Exchange or Acculink) typically charge a network access fee. So, we won't charge anything for our side of the transaction. And we'll cover the interchange or network access fee charged by INTERAC Network, Plus or the network owner up to four times per month. For ATM network fees for the Ultimate Savings Account, read our Schedule of Service Charges.

I just want to clarify if this means lets say u withdraw money from scotiabnk atm, you will not get charged the 1.50$ that is usually charged and u will absolutely will not get charged any fees?

[2door]

I was reading on the citizens banks website that the ulitmate savings account have free 4 withdrawals and one can use the interac abm networks to withdraw.... and here is the fine print

1 When you use an ATM to withdraw cash, the network owners (INTERAC Network, Plus, Exchange or Acculink) typically charge a network access fee. So, we won't charge anything for our side of the transaction. And we'll cover the interchange or network access fee charged by INTERAC Network, Plus or the network owner up to four times per month. For ATM network fees for the Ultimate Savings Account, read our Schedule of Service Charges.

I just want to clarify if this means lets say u withdraw money from scotiabnk atm, you will not get charged the 1.50$ that is usually charged and u will absolutely will not get charged any fees?

I believe that you will be charged the 1.50 but that Citizens Bank will reimburse you by depositing it back. Maybe someone who has had it for a while and has actually experienced this can reply as well? (I have only just applied myself...)

[angel_wing0]

I just want to clarify if this means lets say u withdraw money from scotiabnk atm, you will not get charged the 1.50$ that is usually charged and u will absolutely will not get charged any fees?

scotiabank is not part of the exchange network, so u will get charged $1.50 from scotia, and $1.50 from citizens.

[lame23]

scotiabank is not part of the exchange network, so u will get charged $1.50 from scotia, and $1.50 from citizens.

so what are they talking about on the fine print?

1 .......... And we'll cover the interchange or network access fee charged by INTERAC Network, Plus or the network owner up to four times per month. For ATM network fees for the Ultimate Savings Account, read our Schedule of Service Charges.

[emoci]

This is what their fees breakdown to:

1. When using any of these ATM machines:

HSBC
National Bank/Banque National
Citibank Canada
Alterna Savings/Bank
Meridian Credit Union
VanCity Credit Union
Any other ATM on the Exchange Network (http://www.the-exchange.ca/default.aspx?pageID=1006)

Global Chequing Acct.: No fees from either end.
Ultimate Savings Acct.: No fees for first 4 transactions. Fee of $1.50 applies after that.

2. When using any other ATM not mentioned above

Global Chequing Acct.: No fees charged by Citizens Bank (includes ATMs in Canada and Internationally). The ATM itself may charge a fee which you'll have to pay.
Ultimate Savings Acct.: No fees charged by Citizens Bank for first 4 transactions (includes ATMs in Canada and Internationally). Fees apply beyond that. On top of these the ATM machine itself may charge you fees that you'll have to pay

3. Debit Transactions in Canada

Global Chequing Acct.: Free and Unlimited (so CashBack is a good option when no Exchange ATMs closeby)
Ultimate Savings Acct.: No fees for first 4 transactions, $1.50/transaction after that.

4. Debit Transactions in US

Free and Unlimited for both acct. types


Remember:
-The 4 transactions/month in the Ultimate Savings acct. can be accumulated by ATM withdrawals or debit purchases
-So the Ultimate Savings Account is better used like a savings acct. similar to PCFs Interest Plus Acct.
-The Global Chequing Acct. is best used for day-to-day transactions
-In comparison to PCF when not using a non-included ATM:
PCF: $1.50 from PCF + $1.50 from machine
Citizens: $0 from Citizens + $1.50 from machine

[djino]

I have recently applied for Citizens.

Can someone tell me if its the same as PCF in that if I want to transfer funds from Ultimate to Global I will have to wait 1 Day or is it Instant (like HSBC).

djino
"Its the only thing I dislike PCF for"

[srg83]

3. Debit Transactions in Canada

Global Chequing Acct.: Free and Unlimited (so CashBack is a good option when no Exchange ATMs closeby)

Sometimes I completely forget about cashback. I go to wal-mart a lot and they always ask on the machines if you want cashback. That is a good option for the online banks.

I seriously want to get a Citizens Bank account (and get that nice $50) but from what I understand, they do a hard credit check and that is not good for me right now since I'm trying to rebuild it. Maybe I'll look into it another time (they might even have a better offer later).

[lame23]

This is what their fees breakdown to:

1. When using any of these ATM machines:

HSBC
National Bank/Banque National
Citibank Canada
Alterna Savings/Bank
Meridian Credit Union
VanCity Credit Union
Any other ATM on the Exchange Network (http://www.the-exchange.ca/default.aspx?pageID=1006)

Global Chequing Acct.: No fees from either end.
Ultimate Savings Acct.: No fees for first 4 transactions. Fee of $1.50 applies after that.

2. When using any other ATM not mentioned above

Global Chequing Acct.: No fees charged by Citizens Bank (includes ATMs in Canada and Internationally). The ATM itself may charge a fee which you'll have to pay.
Ultimate Savings Acct.: No fees charged by Citizens Bank for first 4 transactions (includes ATMs in Canada and Internationally). Fees apply beyond that. On top of these the ATM machine itself may charge you fees that you'll have to pay

3. Debit Transactions in Canada

Global Chequing Acct.: Free and Unlimited (so CashBack is a good option when no Exchange ATMs closeby)
Ultimate Savings Acct.: No fees for first 4 transactions, $1.50/transaction after that.

4. Debit Transactions in US

Free and Unlimited for both acct. types


Remember:
-The 4 transactions/month in the Ultimate Savings acct. can be accumulated by ATM withdrawals or debit purchases
-So the Ultimate Savings Account is better used like a savings acct. similar to PCFs Interest Plus Acct.
-The Global Chequing Acct. is best used for day-to-day transactions
-In comparison to PCF when not using a non-included ATM:
PCF: $1.50 from PCF + $1.50 from machine
Citizens: $0 from Citizens + $1.50 from machine
Thanks for this info!!

but Im stil confuse with this fine print. (is this a typo then?)

"1 When you use an ATM to withdraw cash, the network owners (INTERAC Network, Plus, Exchange or Acculink) typically charge a network access fee. So, we won't charge anything for our side of the transaction. And we'll cover the interchange or network access fee charged by INTERAC Network, Plus or the network owner up to four times per month. For ATM network fees for the Ultimate Savings Account, read our Schedule of Service Charges"

[srg83]

Here's my interpretation:

You withdraw $20 4 times in a month at, say, a ScotiaBank ABM. You get charged $1.50 each time, but Citizens reimburses you the $6 in charges, while they do not charge you $1.50 from their side.

However, you take out $20 a 5th time. Citizens will not charge you $1.50 for the transaction as above, but they also won't give you back that $1.50 you were charged at the ABM.

So for withdrawing $20 5 times from a ScotiaBank ABM, your total service charges are only $1.50.

I think they're just allowing you some leeway in case you're in a situation where you need cash but there aren't any appropriate ATMs around.

[djino]

Here's my interpretation:

You withdraw $20 4 times in a month at, say, a ScotiaBank ABM. You get charged $1.50 each time, but Citizens reimburses you the $6 in charges, while they do not charge you $1.50 from their side.

However, you take out $20 a 5th time. Citizens will not charge you $1.50 for the transaction as above, but they also won't give you back that $1.50 you were charged at the ABM.

So for withdrawing $20 5 times from a ScotiaBank ABM, your total service charges are only $1.50.

I think they're just allowing you some leeway in case you're in a situation where you need cash but there aren't any appropriate ATMs around.

+1

djino
"Agreed, what he said"

[lame23]

I was reading on the citizens banks website that the ulitmate savings account have free 4 withdrawals and one can use the interac abm networks to withdraw.... and here is the fine print

1 When you use an ATM to withdraw cash, the network owners (INTERAC Network, Plus, Exchange or Acculink) typically charge a network access fee. So, we won't charge anything for our side of the transaction. And we'll cover the interchange or network access fee charged by INTERAC Network, Plus or the network owner up to four times per month. For ATM network fees for the Ultimate Savings Account, read our Schedule of Service Charges.

I just want to clarify if this means lets say u withdraw money from scotiabnk atm, you will not get charged the 1.50$ that is usually charged and u will absolutely will not get charged any fees?
Here's my interpretation:

You withdraw $20 4 times in a month at, say, a ScotiaBank ABM. You get charged $1.50 each time, but Citizens reimburses you the $6 in charges, while they do not charge you $1.50 from their side.

However, you take out $20 a 5th time. Citizens will not charge you $1.50 for the transaction as above, but they also won't give you back that $1.50 you were charged at the ABM.

So for withdrawing $20 5 times from a ScotiaBank ABM, your total service charges are only $1.50.

I think they're just allowing you some leeway in case you're in a situation where you need cash but there aren't any appropriate ATMs around.
So I was right then!:-0 As long as u dont go over 4 withdrawal transactions in a month, u will not get charged any fees even if your withdraw your money from the five 5 big banks atm''s! and this is only for the ultimate savings account and for the global account you will get charged only 1.50$ for every transaction right (withdrawal through other institutions)?

[srg83]

That's what it sounds like, yeah. Pretty sweet deal, given how easy it is to stay within your 4 withdrawls (if you can't find a credit union atm, buy something from walmart and get cash back)

[matradley]

Thanks for posting this information - this is good news. When I can actually activate my Citizen's account, it will be really useful. :)

[squid]

I have recently applied for Citizens.

Can someone tell me if its the same as PCF in that if I want to transfer funds from Ultimate to Global I will have to wait 1 Day or is it Instant (like HSBC).

djino
"Its the only thing I dislike PCF for"

Instant transfer.

For example, yesterday I was at the market and needed cash. I transferred $60 from savings to my chequing which I keep at 0 balance and then withdrew the $60 from the chequing. No fees, no mess.

[djino]

Good stuff. Thanks.

I think thats the very thing that will make this bank better than PCF.

djino

[squid]

Good stuff. Thanks.

I think thats the very thing that will make this bank better than PCF.

djino

My #1 favorite feature :)

[angel_wing0]

Good stuff. Thanks.

I think thats the very thing that will make this bank better than PCF.

djino

indeed, but i like pcf's ui more, and transferring money is a pain on citizens because u have to enter the bank info in EVERYTIME if u dont use the same com or often clear cookies on the same com.

[emoci]

Here's my interpretation:

You withdraw $20 4 times in a month at, say, a ScotiaBank ABM. You get charged $1.50 each time, but Citizens reimburses you the $6 in charges, while they do not charge you $1.50 from their side.

However, you take out $20 a 5th time. Citizens will not charge you $1.50 for the transaction as above, but they also won't give you back that $1.50 you were charged at the ABM.

So for withdrawing $20 5 times from a ScotiaBank ABM, your total service charges are only $1.50.

I think they're just allowing you some leeway in case you're in a situation where you need cash but there aren't any appropriate ATMs around.

Yeah...but that's a bit iffy (unless someone has tried it and can comment)... They do say they'll reimburse "the network fee" but not over $0.75 (see http://mycusthelp.ca/CITIZENSBANK/supportkbitem.asp?sSessionID=&Inc=2482&sFilA=FAQ%20Categories&sFilB=&sFilC=&KEY=withdrawal )

I would assume you'll be dinged $1.50 from the ATM and if you don't that's a plus:D

[angel_wing0]

well the thing is get enough money in your wallet...i believe they are being too nice in giving the leeway :D

[dealtacular]

Yeah...but that's a bit iffy (unless someone has tried it and can comment)... They do say they'll reimburse "the network fee" but not over $0.75 (see http://mycusthelp.ca/CITIZENSBANK/supportkbitem.asp?sSessionID=&Inc=2482&sFilA=FAQ%20Categories&sFilB=&sFilC=&KEY=withdrawal )

I would assume you'll be dinged $1.50 from the ATM and if you don't that's a plus:D

I think what they mean, as stated above, is that they reimburse the interchange or network fee (as stated in that link, up to $0.75), but not the machine fee. In Canada, all machines have a machine fee, so I think you would always have to pay. Internationally, many ATMs do not have a machine fee or network fee, so you could withdraw within your 4 transactions for free. That's my interpretation.

[srg83]

I think we could all agree though that there seem to be plenty of options to withdraw your money for free; and even if you need to go to one of the big 5 machines on occasion, it won't cost as much as other banks.

[angel_wing0]

I think we could all agree though that there seem to be plenty of options to withdraw your money for free; and even if you need to go to one of the big 5 machines on occasion, it won't cost as much as other banks.

well there are lots of credit unions atm around gta...and there's even more hsbc atms, especially in markham/richmond hill.

[lilclie]

does anybody have a screen shot of their UI for online banking. ease of use and a clean interface has always been important for me.

[brunes]

If you already have an account at PC and just want your "own account" then why not just open another account there? It's not like there is a limit.

I currently have 4 chequing accounts and a line of credit linked to my PCF card.

[angel_wing0]

"your own account"? :confused:

[djino]

If you already have an account at PC and just want your "own account" then why not just open another account there? It's not like there is a limit.

I currently have 4 chequing accounts and a line of credit linked to my PCF card.

Yeah, who are you replying too?

djino
"Quotes are your friend"

[srg83]

Yeah, who are you replying too?

djino
"Quotes are your friend"

I think he was referring to my initial post.

Honestly don't see how you can do two chequing accounts on one PCF card, you can only choose chequing vs savings when doing a debit purchase.

[tng11]

I think he was referring to my initial post.

Honestly don't see how you can do two chequing accounts on one PCF card, you can only choose chequing vs savings when doing a debit purchase.

You can place the extra accounts under "Additional Accounts", but it will only be accessible by bank machine and not debit.

[srg83]

Yeah I don't see the point in that. I wouldn't want to have to transfer money over to the joint account every time I make a debit purchase. It would have to be a cash-only account, pretty much.

[AllWheelDrift]

Yeah I don't see the point in that. I wouldn't want to have to transfer money over to the joint account every time I make a debit purchase. It would have to be a cash-only account, pretty much.
Maybe you could assign the 2nd chequing account to the savings button and use the "additional accounts" to access your savings account? There's not much point in using the savings button for the savings account since you can't pay/withdraw from savings.

[Jacklad]

You can place the extra accounts under "Additional Accounts", but it will only be accessible by bank machine and not debit.

You can have a second chequing account assigned to the "Savings" feature on your debit card.

I have a joint PCF account that is accessible with both cards and a personal chequing account that is only accessible with mine.

[srg83]

I didn't know that was possible. Is that programmed at the ATM level?

[tng11]

I didn't know that was possible. Is that programmed at the ATM level?

Yep. When you go to the ATM, and select your withdrawal account, there's a button on the left pointing to Additional Accounts and it gives you a whole list of the accounts. My Savings account is programmed on that button for some strange reason while my "Savings" slot is empty. You need to know your account number by heart to make sure it's the right account though. I have no reason to have another account at PCF beyond my only Chequing and Savings.

[dealtacular]

Yep. When you go to the ATM, and select your withdrawal account, there's a button on the left pointing to Additional Accounts and it gives you a whole list of the accounts. My Savings account is programmed on that button for some strange reason while my "Savings" slot is empty. You need to know your account number by heart to make sure it's the right account though. I have no reason to have another account at PCF beyond my only Chequing and Savings.

PCF used to do this for most accounts (no idea why, maybe so you don't think you can use it for debit), but you can always ask them to change it to the Savings slot.

[Jacklad]

I didn't know that was possible. Is that programmed at the ATM level?

You can get them to link a second chequing account to the "savings" option on the card by calling them. They will also link a LOC there, if you wish, but that makes it much more scary if your card is compromised. :(

What they won't do is put a savings account on the "savings" slot of the debit card, because their policy of holding funds for a day doesn't allow you to do instant transactions (either debit or atm).

[halflife150]

Here's my interpretation:

You withdraw $20 4 times in a month at, say, a ScotiaBank ABM. You get charged $1.50 each time, but Citizens reimburses you the $6 in charges, while they do not charge you $1.50 from their side.

However, you take out $20 a 5th time. Citizens will not charge you $1.50 for the transaction as above, but they also won't give you back that $1.50 you were charged at the ABM.

So for withdrawing $20 5 times from a ScotiaBank ABM, your total service charges are only $1.50.

I think they're just allowing you some leeway in case you're in a situation where you need cash but there aren't any appropriate ATMs around.

I think you're wrong, but I do agree the wording is confusing, plus the confusion over how ATM fees work.

So here is how it works:

1. They won't charge you an account fee, which is "we won't charge anything for our side", most banks will give you a certain amount of free debits per account and then charge for any debits exceeding that amount.

2. They will cover up to 4x the network access fee, which all banks charge for accessing there system for a withdrawal, however, most banks waive this fee on all transactions for using ATM's owned by your bank. This account will only cover the first 4 transactions.

3. What it won't cover is any surcharge/convenience fee that a lot of banks now charge for using their ATMs if the account you're accessing is not with the bank that owns the ATM you're using.

So if the Scotiabank ATM is charging a surcharge/convenience fee, then you won't be covered for that fee, even if that was within your first 4 transactions. I believe surcharge/convenience fees have to be disclosed and accepted before the transaction can go through, so you'll know beforehand if there is one for that ATM.

[dealtacular]

What they won't do is put a savings account on the "savings" slot of the debit card, because their policy of holding funds for a day doesn't allow you to do instant transactions (either debit or atm).

If you ask, they will do this too.

[matradley]

does anybody have a screen shot of their UI for online banking. ease of use and a clean interface has always been important for me.

Citizen's Bank UI:
http://img399.imageshack.us/img399/1938/citizensbankuijz8.th.jpg (http://img399.imageshack.us/my.php?image=citizensbankuijz8.jpg)

[angel_wing0]

i see a window with a red X :D

the only thing good about the UI is u can rename the accounts for me :P Well not that great as well since they have to be in all caps...

[ukgirl]

I applied for the citizens bank thing last week. I got an email saying I need to either go to a boutique and show my drivers license or get a copy of it notarized???

Are there any boutiques in Toronto or GTA?

Did you all get asked the same?
thanks!

[matradley]

i see a window with a red X :D

the only thing good about the UI is u can rename the accounts for me :P Well not that great as well since they have to be in all caps...
Yeah, name one the "ULTIMATE HARUHI" and the "GLOBAL MIKURU". XD

I applied for the citizens bank thing last week. I got an email saying I need to either go to a boutique and show my drivers license or get a copy of it notarized???

Are there any boutiques in Toronto or GTA?

Did you all get asked the same?
thanks!
I never was asked to show anything in particular. I just had to mail my cheque.

[angel_wing0]

I applied for the citizens bank thing last week. I got an email saying I need to either go to a boutique and show my drivers license or get a copy of it notarized???

Are there any boutiques in Toronto or GTA?

Did you all get asked the same?
thanks!

yes there is one at 184 front street.

[angel_wing0]

Yeah, name one the "ULTIMATE HARUHI" and the "GLOBAL MIKURU". XD

SO WIN ;)

caps.

[tng11]

Has anyone used the Citizen's chequing account overseas? I'm interested as to what exchange rates you got.

I'm off to Paris in 10 days, so if anything I'll try machines there with my RBC, CIBC and Citizen's cards to compare the rates.

[elisa]

I was in Paris in August for 10 days and i used my Citizens card with no problems and no fees. The exchange rate was pretty good if i remember correctly. I used two banks; BNP and Société Générale. Both are very easy to find in the city.

Enjoy your trip!

[dd55]

Anyway I noticed at Citizens Bank they have an offer on until December 22 where they will give you $50 for opening a new account. I read the terms, and it says the $50 is on condition of an initial deposit of $100. They deposit the $50 to you after 30 days as long as everything is in order, but you have to make sure to keep a minimum balance of at least $100 (or $200 if your initial deposit is $200) for 3 (or 4?) months or else they take back the $50.

That doesn't seem hard to do (maintain a minimum balance of $100 for four months) but I was just wondering if any of the other free banks had an offer like that? I honestly don't know all of the no-fee banks out there other than PC and (now) Citizens Bank.

I was just Googling for that deal and 50GiftPromo https://www.citizensbank.ca/Personal/Products/BankAccounts/50GiftPromo/ now says "$50 bonus offer no longer available"... With today's 0.75% rate cut from Bank of Canada, I cannot trust some of those "until" statements, like this "until December 22", anymore.

[angel_wing0]

I was just Googling for that deal and 50GiftPromo https://www.citizensbank.ca/Personal/Products/BankAccounts/50GiftPromo/ now says "$50 bonus offer no longer available"... With today's 0.75% rate cut from Bank of Canada, I cannot trust some of those "until" statements, like this "until December 22", anymore.

its not until december 22, u just have to deposit $100 before dec 22...but yeah not its gone if u havent applied before yesterday.

[tng11]

This is what I paid for four 100 GBP withdrawals from the same HSBC machine in London:

XE.com says 100 GBP is worth $185.23 CAD today

Citizen's Bank: $189.49 CAD
RBC: $190.78
CIBC: $190.70
HSBC: $187.07

HSBC comes out on top here. For Citizen's there no $5 fee- so they're not a bad deal either. I don't pay for int'l withdrawals from CIBC and RBC but they're the most expensive of them all (what a surprise!).

[TorontoEh]

This is what I paid for four 100 GBP withdrawals from the same HSBC machine in London:

XE.com says 100 GBP is worth $185.23 CAD today

Citizen's Bank: $189.49 CAD
RBC: $190.78
CIBC: $190.70
HSBC: $187.07

HSBC comes out on top here. For Citizen's there no $5 fee- so they're not a bad deal either. I don't pay for int'l withdrawals from CIBC and RBC but they're the most expensive of them all (what a surprise!).

wow..good to know as long as you use HSBC machines , no $5 charge, and not a bad rate. I'm assuming if one uses their HSBC / TD etc card, they'll get dinged from both sides....

[tng11]

wow..good to know as long as you use HSBC machines , no $5 charge, and not a bad rate. I'm assuming if one uses their HSBC / TD etc card, they'll get dinged from both sides....

Good thing is machines in the UK don't charge a convenience fee... it doesn't matter if you're using TD, CIBC, Citizen's, PC etc. you only pay the service charge from the Canadian bank. A lot of banks are charging $5 for this transaction and the Citizen's account waives it. RBC waives it for me as I have the VIP account, CIBC will refund up to 2 a month (specially negotiated), HSBC is waived as I have their Premier service and I also believe the FX fee is cut to 1% for Premier accounts, otherwise I would have paid $5 for each transaction.

Citizen's doesn't charge anything which makes this account really valuable if you travel internationally.

[tng11]

Made 10 withdrawals of 20 Euros through Paris yesterday and each one is showing at about $34 (+/- $0.30) which is pretty damn close to interbank rates. Their exchange rates rock and no fees.

Their interest rate on the Savings account is blah these days, but if anything I think their Chequing account tops PCF. I'm probably saying that as there's an Alterna and HSBC machine close to me all the time. They're quite generous with hold limits too when PCF has been a total ***** to me.

This account gives me every reason to phase PCF out, as they have that stupid 1-day transfer rule and their interest in in line with Citizen's. I'm a CIBC client anyways so I'm really not losing any access.

EDIT: A BIG minus is I can't change the PIN!

[angel_wing0]

yes u can only change your pin in the actual bank for citizens.

The one-day transfer rule is gay, but it allows u to prevent impulse purchases which i like :D

[2door]

I applied for the citizens bank thing last week. I got an email saying I need to either go to a boutique and show my drivers license or get a copy of it notarized???

Are there any boutiques in Toronto or GTA?

Did you all get asked the same?
thanks!
I'm guessing that they could not locate your credit history. A friend who has no credit history whatsoever got the same email as you (...and it's not worth driving/taking public transit to downtown Toronto or locating/paying a notary public only get the 50 $). I only had to mail a personalized cheque for myself to get my account set up.